Which business entity type do I select for my LLC taxed as an S-Corp when filling forms?

The correct answer depends on the specific context of the application, but generally speaking, your business entity type is still an LLC. The S-Corporation designation is just a tax election, not your actual business structure. When you have an LLC taxed as an S-Corp, you have a dual status: your state-registered business entity is an LLC, but you've elected a different tax classification with the IRS. For most applications, especially those dealing with your legal business structure (like loans, contracts, etc.), you should select "LLC" since that's your actual legal business entity type. However, if the form specifically asks about your tax classification or filing status, then you would indicate S-Corporation. Some forms might actually have an option for "LLC taxed as S-Corporation" or allow you to check multiple boxes.

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For what it's worth, I always select "LLC" first, then include a note that says "LLC with S-Corporation tax election" whenever possible. Most forms aren't designed with the nuance of tax elections in mind. On government forms like census surveys or regulatory filings, there's usually an "other" option where you can write in "LLC taxed as S-Corporation" if it seems important for that particular form.

I run into this all the time with clients. The real issue is that forms are designed by people who don't understand the distinction between legal entity type and tax status. Here's what I tell my clients: - Secretary of State filings: Always "LLC" - IRS filings: "S-Corporation" (Form 1120-S) - Loan applications: "LLC" with note about S-Corp election - Insurance applications: "LLC" - Contracts: "LLC" with full legal name including "LLC" What matters is understanding what the form is asking for and why they need to know.

This thread has been incredibly helpful! I'm dealing with a similar situation but with a twist - my LLC elected S-Corp status mid-year (July 2024) after starting as a regular LLC. Now I'm filling out a contractor application for a government project and I'm not sure how to handle the partial year situation. Should I select LLC since that's how I started the year, or S-Corp since that's my current status? The application asks about my "current business entity type" but also wants tax information from the full previous year when I was both. Has anyone dealt with mid-year elections and how they affect applications? I don't want to get rejected for inconsistent information between my current status and last year's tax filings.