Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and the Yahoo Answers website is now in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

does LLC's have to file federal taxes?

7 Answers

Relevance
  • NA
    Lv 7
    3 years ago
    Favorite 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.

  • 3 years ago

    I am STEVEN PATTERSON and i live in USA Duck town TN and i am a happy MAN today? I told my self that any Loan lender that could change my Life and that of my family, i will refer any person that is looking for loan to Them. If you are in need of loan and you are 100% sure to pay back the loan please contact them and please tell them that STEVEN PATTERSON referred you to them. ( arvestbankusa11@gmail.com )For more info..... Good Luck!!

  • 3 years ago

    Of course.

  • ?
    Lv 7
    3 years ago

    The LLC does file as do he owners

  • Judy
    Lv 7
    3 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.

  • 3 years ago

    NA has a great answer.

  • 3 years ago

    Yes

Still have questions? Get your answers by asking now.