Legal Question in Business Law in Missouri

did i form my llc wrong?

I just formed my llc online with my state office - MO. I entered in as two members (my wife and I) and quickly got my cert. of organization. I listed both of us as members/organizers. After that, I went to the IRS site and started filling out the on-line form for my EIN. It states because I have two members in my LLC, I must file with them as a partnership. Which way is best for me (us) at tax time? Should I delete her name from the LLC so I can file my business income/expenses on my 1040? If so, how do I eliminate her name on my registered LLC? I haven't completed the EIN with the IRS yet until I know what I should do...


Asked on 9/02/08, 12:15 pm

1 Answer from Attorneys
Michael R. Nack Michael R. Nack, Attorney at Law

Re: did i form my llc wrong?

Your situation presents an excellent example why people should get legal advice rather than attempt to save a few dollars by filling in forms online in an effort to organize a business. Most people have no reason to know much about the various forms of business organizations available, or the legal and tax consequences of choosing one form over another. Why did you attempt to organize your business in the first place? Was it to obtain some type of protection from personally liability? Was it to obtain some type of favorable tax treatment? Or, perhaps was there some other reason? How do you know whether you accomplished your goal? What if there are even more serious surprises waitng for you and yoru business somewhere down the road? Hire an attorney and\or a tax advisor and you will have some assurance that everything has been done properly after you have been properly advised.

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Answered on 9/02/08, 12:35 pm


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