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2. Entity classification election - Wikipedia

   en.wikipedia.org/wiki/Entity_classification_election

   The election is effective for Federal income tax purposes. If an entity is not classified as a corporation, it is treated as a partnership for U.S. tax purposes if it has more than one owner, or is treated as a "disregarded entity" if it has a single owner (i.e. is treated as part of the single owner).

3. Limited liability company - Wikipedia

   en.wikipedia.org/wiki/Limited_liability_company

   Thus, income from the LLC is taxed at the individual tax rates. The default tax status for LLCs with multiple members is as a partnership, which is required to report income and loss on IRS Form 1065. Under partnership tax treatment, each member of the LLC, as is the case for all partners of a partnership, annually receives a Form K-1 reporting ...

4. Small business owners must report by end of the year to avoid ...

   www.aol.com/small-business-owners-must-report...

   That means even an owner of a single-member LLC is required to file, along with all corporations (including S corporations) and larger LLCs. ... The law was created "to combat illicit activity ...

5. Flow-through entity - Wikipedia

   en.wikipedia.org/wiki/Flow-through_entity

   However, if one is the sole member of a domestic limited liability company (LLC), one is not a sole proprietor if one elects to treat the LLC as a corporation. [5] In the United States, sole proprietors "must report all business income or losses on [their] personal income tax return; the business itself is not taxed separately.

6. How to dissolve an LLC

   www.aol.com/finance/dissolve-llc-153000360.html

   The LLC's books must be settled—meaning all debts and taxes owed must be paid, and all remaining assets must be distributed—before filing the articles of termination.

7. Tax consolidation - Wikipedia

   en.wikipedia.org/wiki/Tax_consolidation

   Tax consolidation, or combined reporting, is a regime adopted in the tax or revenue legislation of a number of countries which treats a group of wholly owned or majority-owned companies and other entities (such as trusts and partnerships) as a single entity for tax purposes. This generally means that the head entity of the group is responsible ...