Corporation Income Tax Return, to report its income as a corporation. This means that if the business itself cant pay a creditor. Once the LLC elects to be taxed as a C-corporation, it must file a Form 1120, U.S. Forming an LLC helps protect your personal assets from liability for business debts on obligations. Each customer gets a Corporate Guide assigned to their specific account, so you can speak to the same person if you have any questions or concerns.Īdditionally, Northwest includes a free year of registered agent service in their basic package. An LLC may elect to be treated as a C corporation by filing a Form 8832, Entity Classification Election, with the IRS. These tax rates change annually, but the self-employment income tax rate in 2022 is. LLC Tax Classification C or S If you choose to have a LLC tax classification as a C corporation structure, you should file a Form 8832 to elect your LLC’s tax classification. One of Northwest’s leading strengths is their dedication to high-quality customer service they offer their clients Corporate Guides, who are professionally trained U.S.-based support agents. In an LLC, members must pay self-employment taxes Social Security and Medicare taxes directly to the IRS. Northwest Registered AgentĪs an alternative to LegalZoom, we highly recommend forming an LLC with Northwest Registered Agent. #Legal zoom llc tax classification plus#The Standard LLC Package comes with everything from the Economy Package PLUS a business newsletter a company book with membership certificates and company seal. The Standard LLC Package has a 15 day turnaround time. LegalZoom Alternatives to Save You Money 1. Legalzoom's Standard LLC Package is 329 plus state filing fees.
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