Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, Insurance Licensing Services of America (ILSA)’s Supervisor for Annual Returns & Corporate Tax Filings, Tameika Johnson shares her dos and don’ts for disregarded entities. Her secret for success: Do your research before you register your business entity with a Secretary of State’s Office. Your filings status will impact whether, when, and how much your business needs to pay in corporate taxes.
This episode is brought to you by:
Insurance Licensing Services of America (ILSA), America’s premier regulatory compliance experts. To learn more visit ILSAinc.com.
And if you only learn one thing from this podcast, let it be this: Don’t assume that because you are a disregarded entity that you don’t need to file a state tax return!
Remember, also, there are many factors that go into determining an entity’s taxable status. In today’s podcast, we’re discussing ONLY single-member limited liability companies (SMLLCs) that are not owned by a C corporation.