Discussion:LLC as partnership changes to C-Corp.
From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.
From TaxAlmanac
Discussion Forum Index --> Tax Questions --> LLC as partnership changes to C-Corp.
NSLindacpa2 (talk|edits) said: | 20 September 2007 |
| I have read several discussions similar to mine, but not quite on point. A 2 member LLC started in 2005, filed 1065 - in 2006 one partner left. The remaining partner is a C-Corp with a 9/30 year-end - versus the 12/31 of the LLC. I used the election to choose a corporate status and prepared a final 1065 and an initial 1120 part-year. One of the discussions I read seemed to indicate a new EIN is needed.
Of course all this happened after the fact - such as year end W-2's and other payroll reports filed. Another complication, the election was not really filed timely because it was past the 75 days allowed. I simply rolled over the ending balance sheet to the beginning balance sheet. How badly have I messed up? | |
| 20 September 2007 | |
| why wouldn't it have reverted to a disregarded SMLLC with a 9/30 y/e? | |
WIBadgerCPA (talk|edits) said: | 20 September 2007 |
| I don't believe you need a new EIN. It's the same entity, you just changed the way it's taxed. | |
| September 20, 2007 | |
| I don't think you messed up at all. I hear your *sigh* of relief. | |
NSLindacpa2 (talk|edits) said: | 28 September 2007 |
| Thanks for the feedback. You did indeed her my sigh!! I'm especially pleased to hear that probably I don't need a new EIN. Thank you all. | |
To join in on this discussion, you must first
log in.
