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does LLC's have to file federal taxes?
7 Answers
- NALv 73 years agoFavorite Answer
They do.
Single member LLC is treated as a sole proprietorship (1040 schedule C).
Multi member LLC is treated as a partnership (1065, schedule k-1).
If an election is made to be taxed as a corporation, then forms 1120 or 1120s are used.
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- JudyLv 73 years ago
Not unless you elected to be taxed as an ss-corp, or are a partnership. Most LLCs' income and expenses are filed on the owner's return, on schedule C.