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LLC dissolution


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Client had started an Pennsylvania LLC and thought it was a corp.  They had filed corp tax returns for this year and last (they didn't file in 2021 and felt they needed to.)  Anyway - got notices back from IRS that it's not a corp, it's an LLC.  

Ok - There was no activity for the 2 years - do I really need to do anything?

And now they want to dissolve it.  I have found a form with a $70 fee to terminate the LLC in PA.

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11 hours ago, mircpa said:

retro 8832 for it to be treated as corporation or amend tax return to sole proprietor (Sch C) or partnership

The deciding factor might be whether they paid shareholder wages.

The tax consequences of distributing assets upon liquidation will be different for corp. vs partnership.


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