Limited Liability Company may file Schedule C, Form 1065 or Form 1120S

Every LLC must file a return regardless of the amount of income or loss. There are some options of what tax return must be filed.

• A single-member LLC reports income or loss on Schedule C as part of their individual income tax return and must be filed by the 15^th day of the 4^th month following the close of the tax year.
• An LLC that has two or more members will report profit or loss on Form 1065. These profits or losses are then passed through on Form K-1 and taxed on each individual member’s tax return. This return is also due by the 15^th day of the 4^th month.
• An LLC can also make an election to be treated as an S-Corporation for income tax purposes. If this election is made the LLC is required to file Form 1120S and the profit or loss from the LLC is passed through on Form K-1 and taxed on each individual member’s tax return. Form 1120S is due by the 15^th day of the 3^rd month following the close of the tax year.