W9 Form Llc S Corp

W9 Form Llc S Corp – Name (lines 1 and 2): On line 2, enter the trade or dba name, if any. Entities formed as a limited liability company under state law may elect to be treated for tax purposes as a partnership, c corporation or s corporation. Next to this box, indicate either 'c' or 's' based on the type of corporation you have elected.

First published on bankersonline.com 8/8/11 Enter the tax classification (c = c corporation, s = s corporation, p = partnership) on page 3. An llc that wants to be classed as an s corporation by the irs must fill out form 2553. An s corporation is designed to provide a small business owner with the advantages of incorporation without the negative taxation witnessed in a regular corporation.

If your llc is taxed as a c company, check the box on line 3 of form 941 and write s to the right of the llc box. Your selection determines how your income is reported to the irs. On line 1, enter the corporation's name as it appears on the entity's tax return.

It’s important to understand the tax implications of each classification to complete the form correctly. An s corporation chooses to distribute its corporate income, losses, deductions, and credits to its shareholders for.

How To Guides Correctly completing an IRS Form W9 with examples Eamonn McElroy CPA, LLC