Does a Single Member LLC Need an EIN?
In general, every entity in the U.S. should obtain an employer identification number (EIN). A single member LLC is a disregarded entity, so it may not require an EIN. Here are the details.
IRS Form 8858 – Foreign Disregarded Entity Disclosures
The IRS Form 8858 is filed with a U.S. income tax return to disclose operations from a foreign branch or foreign disregarded entity. This article and video tutorial covers a sample Form 8858.
What is a Disregarded Entity?
A disregarded entity is a legal entity with one owner that is treated as a transparent entity for federal tax purposes.
Married Taxpayers With an LLC – Can You File Form 1065 Partnership Tax Return
In general, an LLC with more than one owner is a multi member LLC and a partnership for federal tax purposes. In some cases, an LLC owned by a married couple can choose to treat the LLC as a disregarded entity instead of a partnership.
Foreign Owned Single Member LLC – Do You Use a Form W-9 or Form W-8BEN?
A single member LLC is by default a disregarded entity for federal tax purposes. This article and video covers the basics of disregarded entities and whether a nonresident owner needs the Form W-9 or Form W-8 series.
LLC Partnerships – Do I Need a New EIN if the Partnership Ends?
An LLC can be taxed a variety of ways. When an LLC is taxed as a partnership and the membership is reduced to one member, the partnership ends and the LLC becomes a disregarded entity. Does the LLC need a new EIN?
Automatic Conversion of a Disregarded LLC to a Partnership
A disregarded LLC is an LLC with only one owner and has not elected to be an S corporation or a C corporation. When an LLC adds a second member, the LLC automatically becomes a partnership.
Can I File Form 1065 for a Single Member LLC?
A single member LLC is an LLC that has only one owner. By default, a single member LLC is a disregarded entity for federal tax purposes. Disregarded LLCs have very specific federal tax reporting requirements.
How to Pay Yourself From a Single Member LLC?
If a business owner is the sole owner of a single member LLC, there are several ways the owner can be compensated. This article and video tutorial cover those options.