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Before changing the tax status of your limited liability company (LLC), it’s crucial to understand the potential tax complications and implications for the future. This video tutorial explains the process of changing your LLC's tax status, which can be treated as a C Corp, S Corp, partnership, or disregarded entity for federal tax purposes. Making such a change typically involves filing specific forms. The video emphasizes the importance of evaluating whether the current tax selection still aligns with your business goals before proceeding with any adjustments.