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?
Lv 5
? asked in Business & FinanceCorporations · 1 decade ago

Costs associated with LLC taxed as Sub-S in Florida?

What additional fixed state costs, if any, will a business incur if it elects to be taxed as a Sub-S corp instead of a Sole Proprietorship in Florida? I believe you have until Mar 15 to make that election, yes?

2 Answers

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  • Bobbo
    Lv 5
    1 decade ago
    Favorite Answer

    You betcha, old boy!

  • ?
    Lv 4
    4 years ago

    LLC is totally a state designation, IRS in basic terms recognizes a Corp(C or S) a Partnership or a sole proprietor I had a 'shopper' in Fla who began working for a company that insisted he type a Corp, get his EIN and sign up with the state as such by using fact he knew actually not something approximately this methodology of company, 2 years, later and a lot of money piled up that he owes he has been able to looking yet another interest which will pay many times I had to do significant examine by using fact In am not in Fla, he had company papers to record, and to dissolve the corp, he had worker comments to record for 2 years(he grew to become into the worker of the corp), he had state and native comments he had to record and to genuine it off, he did not record his 1040's for those 2 years the two we did get those finished and definitely, he could be due refunds for the two years for earnings tax, which will finally end up paying those different charges he accumulated as a corp.

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