IRS Form 2553

If the Single Member LLC or Multi-Member LLC is taxed as a corporation and wishes to elect Sub - S status (Corporate Tax and Sub-S Election for Single and Mulit-Member LLCs (Filling out Form 2553)), an IRS Form 2553 (“Election by a Small Business Corporation”) is prepared for filing and mailed to the LLC owner/members (See Corporate Tax and S-Corp Tatus Language in the LLC Operating Agreement). The Form 2553 is the IRS filing required to obtain Sub - S status.

The 2553 is prepared for filing as part of the LLC Package.

When I organized “Form” LLCs I did not prepare IRS Forms 2553.

“To tax and please, no more than to love and be wise, is not given to men.” Edmund Burke, quoted in 36 Harvard Business Review (No. 1, Jan.-Feb. 1958), p. 126.