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Do LLC's pay taxes 2024?

Harper Cooper | 2023-05-08 00:38:45 | page views:1169
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Emma Johnson

Studied at Yale University, Lives in New Haven, CT
The IRS treats one-member LLCs as sole proprietorships for tax purposes. This means that the LLC itself does not pay taxes and does not have to file a return with the IRS. As the sole owner of your LLC, you must report all profits (or losses) of the LLC on Schedule C and submit it with your 1040 tax return.
2023-05-11 00:38:45

Julian Lopez

QuesHub.com delivers expert answers and knowledge to you.
The IRS treats one-member LLCs as sole proprietorships for tax purposes. This means that the LLC itself does not pay taxes and does not have to file a return with the IRS. As the sole owner of your LLC, you must report all profits (or losses) of the LLC on Schedule C and submit it with your 1040 tax return.
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