Laura,
You may still be able to use the EIN of the LLC. Check with the IRS. If so, you would file Form 8832 to elect to be taxed as an S Corp. Otherwise you would need to set up a new LLC, get a new EIN, and then File Form 2553. If the latter, you wouldn’t need to file the 8832.
John Stevens, EA
Stevens Tax & Accounting, Inc., dba Equi-Tax
651-773-5000
FAX 651-457-4529
equitax@unique-software.com
www.equitax.net
From:
Sent: 09/26/2008 3:34 PM
To:
Subject: [taxchat] LLC Question...
LLC has two members currently being taxed as a partnership.
One member is leaving the LLC and will not be replaced leaving a sole member.
Default on two is partnership – now that it is loosing the member I assume it will default to sole??? At date of change.
And if it wanted to be taxed as an S Corp - How would you make the election at this point?
Thanks!!
Laura M. Morton, EA
10 Key Solutions
Accounting Solutions for the Small Business
770-985-1621
770-985-6618 fax
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