Question
What is the default federal tax classification of a multi-member LLC with no election?
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Answer
Partnership.
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Question
Why does a default disregarded SMLLC still matter for tax even though it is ignored for income tax?
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Answer
The owner reports the activity directly, and SE tax may apply.
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Question
How far before or after filing can a Form 8832 election be effective?
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Answer
Up to 75 days before or 12 months after filing.
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