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In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
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- LLC being treated as an Scorp
LLC being treated as an Scorp
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jjchavez123
Level 2
02-27-2024
08:40 PM
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I have a client that has an LLC in 2022 they reported on a 1065. In 2023 they requested to be taxed as an Scorp. When you do the 1120s on the balance sheet do you use the previous years balance sheet information from the 1065 or do you start fresh as if it is a totally new business?
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jjchavez123
Level 2
02-28-2024
12:44 AM
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Thanks
