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Current Year Tax Map
Publication 3402
taxmap/pubs/p3402-001.htm#en_us_publink1000205890

Classification of an LLC(p2)

rule
taxmap/pubs/p3402-001.htm#en_us_publink1000244330

Default classification rules.(p2)

rule
An LLC with at least two members is classified as a partnership for federal income tax purposes. An LLC with only one member is treated as an entity disregarded as separate from its owner for income tax purposes (but as a separate entity for purposes of employment tax and certain excise taxes). Also, an LLC's federal tax classification can subsequently change under certain default rules discussed later.
taxmap/pubs/p3402-001.htm#en_us_publink1000244331

Elected classification.(p2)

rule
If an LLC does not choose to be classified under the above default classifications, it can elect to be classified as an association taxable as a corporation or as an S corporation. After an LLC has determined its federal tax classification, it can later elect to change that classification. For details, see Subsequent Elections, later.