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Form 8832 - Entity Classification

Classify your entity tax status as a corporation, partnership, or disregarded entity.

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About Form 8832

What is Form 8832 Entity Classification Election?

An eligible entity uses Form 8832 to elect how it will be classified for federal tax purposes, as:

  • A corporation.
  • A partnership.
  • An entity disregarded as separate from its owner.

If an entity classification is not filed with the IRS, there are certain default rules under which the business will fall. The key for the default classification is whether a member has limited liability. If the foreign entity has two or more members and at least one member does not have limited liability, the default is to be classified as a partnership. If all of the members of the foreign entity have limited liability, the default is for the entity to be treated as an association and taxable as a corporation. Lastly, if the entity has one single owner, and that owner does not have limited liability with respect to that entity, the entity by default will be a disregarded entity for U.S. taxation purposes.

If you're an LLC or partnership, use Form 8832 if you want to be taxed as a C-corp, partnership, or a sole proprietor. Meanwhile, Form 2553 is for LLCs or corporations that want to be taxed as S-corps. Keep this in mind: If you're filing Form 2553, you don't need to file Form 8832.

Frequently asked questions

Who should file this?

Only eligible businesses, including U.S.-based partnerships, U.S.-based limited liability companies (LLCs), and certain foreign entities can file IRS Form 8832 to elect to be taxed as a C-corporation, a partnership, or a sole proprietorship.

When to file it?

Form 8832 must be filed between one year prior and 75 days after its effective date. Most LLCs want their Form 8832 to be effective for their first tax year, so the form must be filed no sooner than one year and no later than 75 days after beginning business.

Where do I file?

File Form 8832 with the Internal Revenue Service Center for your state listed later. In addition, attach a copy of Form 8832 to the entity's federal tax or information return for the tax year of the election.

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Other companies might offer one time payment today but charge you later for fees to keep your business compliant. If you don't pay the fees, your business may fall out of compliance with the state and you'll be charged hefty penalty fees. We want to help you avoid that. That's why with us, your annual payment goes toward your registered agent service, maintaining your US address, scanning your mail, and filing any required documents for your company to keep it current throughout the year so you don't have to worry about legal paperwork. Our goal here is to help you avoid dealing with any of the paperwork or headaches of maintaining compliance so you can focus on what you do best: your business.
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We work with our partners to help provide you with an easy way to file your taxes. Our partner GBS Tax Services has packages based on revenue. A 100k/yr company will cost around $750 to file. We also help our Pro plan customers with a free CPA assessment and free bookkeeping up to 10k in revenue. We recommend clients who file with us to purchase accounting services elsewhere so that they can obtain the personalized service they need for their business. But if you're looking to just get a high-level overview of the expected costs, our team estimates a standard tax return for a small business generating less than 100k in revenue to be anywhere from $175 to $820.
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