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Form 8832 Online Philadelphia Pennsylvania: What You Should Know
There are several issues that an entity must handle if it wants to elect in Form 8832 to be classified by Pennsylvania as a corporation. You can not be an S corporation nor can you become a partnership. The state of Pennsylvania recognizes only two ways to be a partnership: (1) If both partners have assets of 1,000,000 or more and both partners are “persons.” (2) A partnership which consists of an owner who is either a trust or an executor or administrator. (To read more about how these two provisions work together, click here). Non-Tax Issues Non-tax issues for LCS in Pennsylvania are many and complicated, and the amount of work involved in filing an LLC tax return can be overwhelming for many. You can consult and read the following materials by yourself or your attorney. If you disagree with the opinions of the professionals who have written the materials below, you should discuss the matter with an attorney. For example, the documents below are provided to educate the LLC owner/managing member of the various requirements his or her LLC must follow in order to be exempt from corporate income taxes. These documents are also the most complex and convoluted ones discussed.
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