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LLC Tax Status Election (Form 8832)

Get the best tax status for your Limited Liability Company.

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When you form a limited liability company (LLC), it is automatically assigned a "default" tax status unless you choose otherwise. One-member LLCs are generally taxed as sole proprietorships, and those with multiple members are taxed as partnerships.

It's important, though, to have the best-available tax classification for your limited liability company (LLC) in order to maximize your tax savings. So after weighing the options, you may decide that it's advantageous for your LLC to change its tax status. You can accomplish this by filing Internal Revenue Service Form 8832.

By filing Form 8832 with the IRS, you can choose a tax status for your entity besides the default status. According to your objectives, you can elect to have your LLC taxed as a sole proprietorship, partnership, c corporation or s corporation. In some cases, by changing its tax status, a company can save thousands of dollars in taxes each year.

The Company Corporation can help.

The Company Corporation can assist you in filing IRS Form 8832. Enroll in our Form 8832 Package, and our Business Filing specialists will:

  • Help you complete Form 8832 ("Election by a Small Business Corporation")
  • Provide you with detailed instructions for faxing or mailing the form to the IRS

By signing up for this program, you'll also get the benefit of a 30-minute tax consultation with a certified public accountant, who will review your tax situation and offer insight into your best tax options.

Learn more

Find out more about business tax classifications by visiting our Frequently Asked Questions section.

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