What forms do I need to file as an LLC/S Corp/C Corp/Sole Proprietor?

by | May 22, 2025 | Business Taxes, General Business Tax Filing

Here’s what HIVE AI had to say about “What forms do I need to file as an LLC/S Corp/C Corp/Sole Proprietor?”:

Forms Required for Different Business Entities

Based on the provided documents, here are the tax forms you need to file for each type of business entity:

Sole Proprietorship

As a sole proprietor, you will need to file:

If you have employees as a sole proprietor, you must also file:

When completing Form W-9 (Request for Taxpayer Identification Number and Certification), enter your individual name as shown on your Form 1040 on line 1, and your business, trade, or “doing business as” (DBA) name on line 2. IRS – Form W-9: Request for Taxpayer Identification Number and Certification

Limited Liability Company (LLC)

The forms required for an LLC depend on how it’s classified for tax purposes:

Single-Member LLC

If an unincorporated business entity has only one owner, it can either elect to be a corporation or the entity can be disregarded. If an individual owns a disregarded entity, it is treated as a sole proprietorship. IRS – Publication 1635: Understanding Your EIN

When a single member LLC is classified as a disregarded entity, the single member owner (SMO) reports the income and expenses of the LLC on the appropriate schedules of its own income tax return. If the member/owner is an individual, the individual files Form 1040, U.S. Individual Income Tax Return, or Form 1040-NR, U.S. Nonresident Alien Income Tax Return, with the schedules appropriate to the income source. IRS IRM 5.1.21 Collecting from Limited Liability Companies

An eligible entity with a single owner such as Mr. Costello may elect to be classified as an association or disregarded as an entity separate from its owner. An eligible domestic entity with a single owner that does not file an election is disregarded as an entity separate from its owner. An election is necessary only when an eligible entity chooses to be classified initially as something other than its default classification or when an eligible entity chooses to changes its classification. An entity whose classification is determined under the default classification retains that classification until the entity makes an election to change it by filing Form 8832, Entity Classification Election. Dawson U.S. Tax Court Opinions: Heber E. Costello, LLC, Scott D. Costello, Single Member Dawson U.S. Tax Court Opinions: Heber E. Costello, LLC, Scott D. Costello, Single Member Dawson U.S. Tax Court Opinions: Heber E. Costello, LLC, Scott D. Costello, Single Member Dawson U.S. Tax Court Opinions: Heber E. Costello, LLC, Scott D. Costello, Single Member

Multi-Member LLC

An LLC classified as a partnership files Form 1065, U.S. Partnership Tax Return, and provides Schedule K-1, Partner’s Share of Income, Credits, Deductions, etc., to each member/owner. Each member/owner reports its share of the income and deductions from the LLC on its own income tax return and is liable for any tax due on that return. IRS IRM 5.1.21 Collecting from Limited Liability Companies

Generally, if the business is an unincorporated business entity, and there are two or more owners, the entity can choose to be a partnership or a corporation. IRS – Publication 1635: Understanding Your EIN

LLC Electing to be Taxed as a Corporation

Section 301.7701-3(a) provides that a business entity that is not classified as a corporation under § 301.7701-2(b)(1), (3), (4), (5), (6), (7), or (8) (an “eligible entity”) can elect its classification for federal tax purposes. Section 301.7701-3(b)(1) provides that an eligible entity with a single owner will be a disregarded as an entity separate from its owner unless it elects otherwise. PLR-156407-03

To elect corporate taxation, file:

  • Form 8832 (Entity Classification Election)

LLC Electing S Corporation Status

If you intend for your LLC to be an S corporation for federal tax purposes, you need to file both Form 8832 (Entity Classification Election) and Form 2553 (Election by a Small Business Corporation). PLR-156407-03

C Corporation

In forming a corporation, prospective shareholders exchange money, property, or both, for the corporation’s capital stock. A corporation generally takes the same deductions as a sole proprietorship to figure its taxable income. A corporation can also take special deductions. The profit of a C corporation is taxed to the corporation when earned, and then is taxed to the shareholders when distributed as dividends. However, shareholders cannot deduct any loss of the corporation. IRS – Publication 583: Starting a Business and Keeping Records

C Corporations must file:

  • Form 1120 (U.S. Corporation Income Tax Return)

Corporations file Forms 941, Employer’s Quarterly Federal Tax Return, on which they report the taxable compensation of corporate officers and employees. Dawson U.S. Tax Court Opinions: Ward & Ward Company

S Corporation

An eligible domestic corporation (or a domestic entity eligible to elect to be treated as a corporation) can avoid double taxation (once to the corporation and again to the shareholders) as long as it meets certain tests and elects to be treated as an S corporation. Generally, an S corporation is exempt from federal income tax other than tax on certain capital gains and passive income. On their tax returns, the S corporation’s shareholders include their share of the corporation’s separately stated items of income, deduction, loss, and credit, and their share of nonseparately stated income or loss. IRS – Publication 583: Starting a Business and Keeping Records

Every S corporation shall make a return for each taxable year, stating specifically the items of its gross income and the deductions allowable by subtitle A, the names and addresses of all persons owning stock in the corporation at any time during the taxable year, the number of shares of stock owned by each shareholder at all times during the taxable year, the amount of money and other property distributed by the corporation during the taxable year to each shareholder, the date of each such distribution, each shareholder’s pro rata share of each item of the corporation for the taxable year, and such other information, for the purpose of carrying out the provisions of subchapter S of chapter 1, as the Secretary may by forms and regulations prescribe. IRC § 6037(a)

The term electing small business corporation return means a Form 1120S, “U.S. Income Tax Return for an S Corporation,” along with all other related forms, schedules, and statements that are required to be attached to the Form 1120S, and all members of the Form 1120S series of returns, including amended and superseding returns. Tresuary Reg. 301.6037-2

S Corporations must file:

  • Form 1120-S (U.S. Income Tax Return for an S Corporation)
  • Schedule K-1 for each shareholder

Like other corporations, S corporations file Forms 941, Employer’s Quarterly Federal Tax Return, on which they report the taxable compensation of corporate officers and employees. S corporations then pass through to their shareholders all items of income, expenses, and deductions. An S corporation’s shareholder often uses the familiar Form 1040, U.S. Individual Income Tax Return, which has a Schedule E, Supplemental Income and Loss, on which to report items such as compensation paid and income earned that flow from the corporation. The usual pattern is for an S corporation’s shareholder to use the corporation’s information return as a source of data for her own. Dawson U.S. Tax Court Opinions: Ward & Ward Company

Partnership

A partnership is the relationship existing between two or more persons who join to carry on a trade or business. Each person contributes money, property, labor, or skill, and expects to share in the profits and losses of the business. IRS – Publication 583: Starting a Business and Keeping Records

Domestic partnerships must file information returns with schedules identifying each partner. REG–127199–15

An LLC that is classified as a partnership is required to file a Form 1065, U.S. Return of Partnership Income. Dawson U.S. Tax Court Opinions: Jerry A. & Marjo E. Nelson

A partnership would report tax credits on its Form IT-204, Partnership Return. It would then report to individual partners (or, in the case of LLCs, members; or, in the case of S corporations, shareholders) their distributive share of the “pass-through credits” on Form IT-204-IP, New York Partner’s Schedule K-1. Dawson U.S. Tax Court Opinions: David J. Maines & Tami L. Maines

Partnerships must file:

  • Form 1065 (U.S. Return of Partnership Income)
  • Schedule K-1 for each partner

Additional Forms for All Business Entities

Employer Identification Number (EIN)

All entities, including disregarded entities, must have an EIN to file a required return. An entity must also have an EIN in order to elect to change its classification. An entity that accepts its default classification and is not required to file a return need not obtain an EIN. Because a domestic single-member LLC is classified as a disregarded entity by default rather than by election and has no separate federal tax return filing requirements, there is typically no federal tax requirement for it to obtain an EIN. Other applicable federal or state laws may require an entity to obtain an EIN. For example, pursuant to federal law, financial institutions in the United States generally require an entity to have an EIN to open an account. An entity obtains an EIN by filing Form SS–4, Application for Employer Identification Number. REG–127199–15

Information Returns

If your business makes payments to others, you may need to file information returns such as:

  • Forms 1099 for independent contractors, rent, etc.
  • Forms W-2 for employees

Forms 1096 and 1099-CAP must be filed on or before February 28 (March 31 if filed electronically) of the year following the calendar year in which the acquisition of control or the substantial change in capital structure occurs. Tresuary Reg. 1.6043-4

Employment Tax Returns

If your business has employees, regardless of entity type, you must file:

  • Form 941 (Employer’s Quarterly Federal Tax Return)
  • Form 940 (Employer’s Annual Federal Unemployment Tax Return)
  • Forms W-2 and W-3 annually

Summary of Required Forms by Entity Type

  • Sole Proprietorship:
    • Form 1040 with Schedule C and Schedule SE
    • Employment tax forms if you have employees
  • Single-Member LLC (Default):
    • Same as Sole Proprietorship (disregarded entity)
    • Form 8832 if electing different tax treatment
  • Multi-Member LLC (Default):
    • Form 1065 (Partnership Return)
    • Schedule K-1 for each member
    • Form 8832 if electing different tax treatment
  • LLC Taxed as S Corporation:
    • Form 8832 (Entity Classification Election)
    • Form 2553 (S Corporation Election)
    • Form 1120-S (S Corporation Return)
    • Schedule K-1 for each member
  • LLC Taxed as C Corporation:
    • Form 8832 (Entity Classification Election)
    • Form 1120 (C Corporation Return)
  • C Corporation:
    • Form 1120 (C Corporation Return)
    • Employment tax forms
  • S Corporation:
    • Form 2553 (S Corporation Election)
    • Form 1120-S (S Corporation Return)
    • Schedule K-1 for each shareholder
    • Employment tax forms
  • Partnership:
    • Form 1065 (Partnership Return)
    • Schedule K-1 for each partner

Remember that your specific situation may require additional forms, and state filing requirements may differ from federal requirements. It’s advisable to consult with a tax professional to ensure you’re meeting all your filing obligations.

Sources:

  • IRS Publication 583: Starting a Business and Keeping Records
  • IRS Publication 1635: Understanding Your EIN
  • IRS Publication 4128: Tax Impact of Job Loss
  • Treasury Regulations sections 301.7701-3, 301.6037-2, and 1.6043-4
  • Internal Revenue Code sections 6037(a), 6091(b)

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