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Does LLC need to file federal tax return?

If the LLC is a corporation, normal corporate tax rules will apply to the LLC and it should file a Form 1120, U.S. Corporation Income Tax Return. LLC Filing as a Corporation or Partnership - IRS irs.gov small-businesses-self-employed ll irs.gov small-businesses-self-employed ll

Is an LLC taxed as a partnership?

Specifically, a domestic LLC with at least two members is classified as a partnership for federal income tax purposes unless it files Form 8832 and affirmatively elects to be treated as a corporation. Limited Liability Company (LLC) | Internal Revenue Service IRS (.gov) small-businesses-self-employed IRS (.gov) small-businesses-self-employed

Can you do an LLC tax return on TurboTax?

TurboTax has two products to serve business ownersTurboTax Home Business is designed for sole proprietors and 1099 contractors, while TurboTax Business helps you prepare taxes for corporations, partnerships and LLCs. How to File Federal Income Taxes for Small Businesses - TurboTax - Intuit intuit.com tax-tips small-business-taxes intuit.com tax-tips small-business-taxes

What is the best tax classification for an LLC?

Disregarded tax status is a good option for most business owners, especially new owners, as this is a simple taxation option that can automatically be applied to the LLC. In addition, this option does not require any additional paperwork to be taxed as a pass-through entity. LLC Taxation Options: Which is best for your business? - Venn Law Group vennlawgroup.com llc-taxation-options-which-is vennlawgroup.com llc-taxation-options-which-is

Does TurboTax support multiple states?

Although the software only lets you e-file up to three states per federal return, you can prepare and paper-file as many states as you want. How many state returns can I prepare in TurboTax Online? intuit.com en-us help-article state-taxes intuit.com en-us help-article state-taxes

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