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My new business is formed as an LLC and I can't find the right tax form to fill out for the IRS count that Caroline thanks sorry about that a very good question and this is kind of one of those unique things and I'm not sure exactly why the IRS hasn't resolved this yet limited liability companies or LLC's have been around for a long time but the IRS doesn't recognize them as a new entity form they still haven't gotten around to doing specific forms just for an LLC so if your LLC operates as such you have to choose how to be taxed for federal income tax purposes and here are your choices first thing to ask yourself are you a single member LLC so you're the only owner or do you have a partner an another person that owns part of the LLC if you're the only owner you can choose to be taxed as a sole proprietorship or to be taxed as a partnership if there's more than one of you you can choose to be taxed as a partnership or a corporation so those are your choices now most of the time most of us small business owners choose the first set either as a sole proprietorship or a partnership and the reason we choose that is because that still gives us the pass through taxation that we really wanted to have as a small business and as a LLC or a partnership that means that entity is not going to pay any federal tax separate from you if you choose a corporation whether it's just you or have a partner now you have to worry about that double tax issue so most likely you will have chosen the pass through taxation if you choose to be taxed as a sole proprietorship the forms that you're going to use for your LLC business is exactly the same as if you were sole proprietorship that means you use the Schedule C now we've looked at that a couple of times today if you go to the Schedule C no different than if you just had your own little sole proprietorship now with the LLC again here at the top you're not going to be using your social security number you're going to be using the employer ID of your LLC but other than that the income at the top part of the form the expenses they're included in a part of the forum works exactly the same as if you were a sole proprietorship if you choose to be taxed as a corporation and there may be benefits for that but if you've chosen that now you're actually going to file a form 1120 which is exactly the same form General Motors files those are for big corporations using that form 1120 not any more complicated than the Schedule C necessarily but still you got the downloading this real quick you still got income