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Delaware LLC, S Corporation
If I form a Delaware LLC company , Do I have to file S Corporation forms to avoid the double taxation ?
Coz its says Delaware LLC is free of income tax . What do you think
And the other thing is if I form a Delaware LLC company , with S Corporation status, then I dont have to file the Tax for the Delaware LLC company and I only have to file my personal tax ?
Look at this post for very good information on LLCs and taxes:
Originally Posted by 123x
We are a S Corp. You still have to pay income taxes regardless of your status.
To avoid double taxation you file a form with the IRS declaring the shareholders and each shareholder pays his/her share of the taxes on Form 1040 in April (the S Corp files Form 1120 in March).