View Full Version : LLC as partnership > LLC as sole proprietor?

09-27-2017, 12:13 PM
This may be better posted elsewhere, but the central question is really tax related so figured would post it here.

So I formed a LLC w/ my wife with the intention of doing business, an intention that was never really fulfilled. We earned a very small amount of revenue which was paid into a business account, but never moved much beyond that.

Fast forward to today, I'm working on other projects and my wife has another job, so I'm now wanting to use the LLC for some of my projects, so the goal here is to file as a sole proprietor and avoid the rigamaroll that comes w/ a partnership filing.

So in my state the Articles of Org is all that's needed, so technically the state doesn't have any idea whether the LLC is multi-member or single member. Also as far as I can tell I can't amend memberships of an LLC, partly b/c that doesn't actually appear to have anything to do w/ how it's registered.

We're filing jointly, and I will have other income outside of this LLC (and she will have income elsewhere as well). So, the question is: do I need to go through the process of dissolving our current LLC and form a new one w/ just me to file my income w/ a simple Schedule C passthrough, or can I just go ahead and use the current LLC to file as such (either b/c we're filing jointly or b/c there is nothing official stating how many members the LLC has)?

Thanks for any assistance or clarifications!

10-10-2017, 09:08 PM
You should be fine with the LLC that is currently in place. From a tax standpoint though the question is have you elected to treat the LLC as a corporation or not?