Business tax
LLC Tax Filing Explained: Single-Member, Multi-Member and S Corp
By the Elite B Tax Services team 6 min readUpdated October 7, 2026
The short answer
The IRS has no separate LLC tax return. By default a single-member LLC is disregarded — its income goes on the owner's return (Schedule C for a business run by an individual) — and an LLC with two or more members is taxed as a partnership on Form 1065. An LLC can instead elect to be taxed as a corporation (Form 8832) or an S corporation (Form 2553).
How each type of LLC files
| LLC type | Taxed as | Federal return | Due (calendar year) |
|---|---|---|---|
| One member (individual) | Disregarded entity | Owner's Form 1040 with Schedule C (or E/F) | April 15 |
| Two or more members | Partnership | Form 1065 + K-1 for each member | March 15 |
| Elected S corporation | S corporation | Form 1120-S + K-1s | March 15 |
| Elected C corporation | C corporation | Form 1120 | April 15 |
Even a disregarded LLC is a separate entity for employment taxes: if it has employees, it handles payroll under its own EIN.
When an S corporation election can make sense
With an S election, owners who work in the business are paid a reasonable salary through payroll, and remaining profit passes through without self-employment tax. That can lower total tax once profit is high enough to cover the extra payroll and filing costs — it is not automatically better.
Form 2553 is generally due within 2 months and 15 days after the start of the tax year the election should take effect.
Deadlines and records
- March 15: partnership and S corporation returns, and K-1s to owners.
- April 15: single-member LLC income on the owner's return; C corporation returns.
- Form 7004 gives business returns an automatic 6-month extension to file.
- Keep a separate business bank account and monthly books — the return is only as good as the records.
Sources: IRS — Limited liability company (LLC) · IRS — Instructions for Form 2553 · IRS — Instructions for Form 1065
This guide is general information, not tax or legal advice for your situation. Rules and inflation-adjusted amounts change — contact us before you file. Read our disclaimer and editorial policy.