Estimate taxes for your LLC based on how it is taxed: single-member, partnership, or S-Corporation election.
Single-member LLCs are typically taxed as sole proprietorships, meaning profits are subject to income tax and self-employment tax.
An LLC can elect S-Corporation status to potentially reduce self-employment taxes by paying owners a salary and distributing remaining profits.
By default, LLCs are pass-through entities and do not pay corporate income tax unless taxed as a C-Corp.
Yes. Most states tax LLC income at individual income tax rates.
