The IRS will automatically tax an LLC as a partnership if it has more than one owner. You can learn more about rules for taxing LLCs from the IRS backgrounder on Form 3402, covering taxation of LLCs.

If you are looking to optimize your business’s tax efficiency, you may also want to adopt the LLC structure. A major reason for many business owners to opt for the LLC structure is its pass ...

What Are the Benefits of Creating a LLC for Taxes & Asset Protection?. Limited liability companies are the median between partnerships and corporations. LLCs bring in the limited liability ...

Simply put, an LLC is a business structure while an S-corp is not. Instead, an S-corp is a tax election. For a thorough analysis, you will need to consult with your business lawyer and/or accountant.