- It depends on your answers to the following questions:
- Are you the only member (sole owner) of your LLC?
- Have you been filing income taxes of your LLC on Schedule C of your personal 1040 (as a sole proprietorship or disregarded entity for IRS purposes) or on Form 1065 (as a partnership)?
- Do you want only to change the IRS income tax reporting to a C-corp, or do you want to change the structure under state law from an LLC to a C-corp?
- Why have you decided to change the tax structure from an LLC to a C-corp?
- If you just want to change it from an LLC to a C-corp for IRS income tax purposes, then you should file IRS Form 8832. It will be treated as a name change, and you will keep the same EIN.
- If you want to change both the IRS income tax structure and the state law structure, it’s more complicated and not as clear. However, with the right steps, I believe (again, not as clear) that it can be treated as a tax-free reorganization for IRS purposes, and I believe you will be able to keep the same EIN.
- Why is it important to keep the same EIN? This can be more complicated, depending on the accumulated income, assets and liabilities of your LLC (if any). It is best to discuss this by making an appointment.
CALL ME: 305-600-2432
