Legal Question in Business Law in Illinois

I registered a company in Delaware as my other partner is not a resident of the USA. I reside in Illinois. I used an agent to form an LLC and am now applying for my EIN. We intend to export refurbished laptops. I intend to work from home.What address should I put in for physical location and when I put in more than one member for the LLC, it asks me to change the structure to a partnership. I'm confused since I registered as an LLC.

Asked on 10/24/17, 2:50 pm

1 Answer from Attorneys

David K. Staub Staub Anderson LLC

Since you are the only member in the United States, you will need to use your address as you will be the responsible party for the LLC. As for the classification as an LLC, there is no such thing for federal tax purposes. The LLC is a state-created entity. An LLC must fit into one of two "boxes" for the IRS if it has more than one member - it is either treated as a corporation (including an S corporation, if it qualifies and so elects) or a partnership. A single member LLC will be treated as a "disregarded entity" (that is, ignored as a separate taxable entity) but since your LLC has 2 members, that is not an option for you.

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Answered on 10/24/17, 4:01 pm

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