Entity Conversion Archives

Knott Learning

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.

Jason Knott2024-10-04T11:37:17+00:00Tags: Disregarded Entity, Entity Conversion, LLC, Partnership|

How to Convert an LLC to an S Corporation

The S corporation election is a valuable tool for many small businesses. In order to make an S corporation election, the entity must be a domestic eligible entity, which includes U.S. LLCs. This article and video discuss the process to make an S election for an LLC.

Jason Knott2024-07-15T20:51:44+00:00Tags: Entity Classification Election, Entity Conversion, Form 2553, LLC, S Corporation|

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