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12 mar 2024 · File regular employment tax returns with the IRS and state agencies. This includes filing Form 941 (employer's quarterly federal tax return) or Form 944 (employer's annual federal tax return) and issuing Form W-2 (wage and tax statement) to employees annually.
A Limited Liability Company (LLC) is a business structure allowed by state statute. Each state may use different regulations, you should check with your state if you are interested in starting a Limited Liability Company. Owners of an LLC are called members.
By filing the appropriate tax forms and keeping track of deductions and expenses, LLC owners can ensure they comply with federal, state, and local tax requirements while maximizing potential benefits.
If you choose to have your LLC file taxes as a corporation, you must tell the IRS by filing Form 8832: Entity Classification Election. At tax time you'll use Form 1120: Corporation Income Tax Return, or 1120S if you choose to be taxed as an S-corporation.
A single-member LLC is also required to use its name and EIN to register for excise tax activities on Form 637; pay and report excise taxes reported on Forms 720, 730, 2290, and 11-C; and claim any refunds, credits and payments on Form 8849. See employment and excise tax returns for more information.
New owners might be having questions like “What documents do I need to file my LLC taxes?” and “Which LLC tax filing form should I use?” So, here’s a simple guide on all important tax forms and documents you will need when paying LLC taxes.
9 maj 2024 · Your tax responsibilities include withholding, depositing, reporting and paying employment taxes. You must also give certain forms to your employees, they must give certain forms to you, and you must send certain forms to the IRS and SSA. See the links below for additional information: Hiring Employees; Part Time or Seasonal Help; Employee ...
