tilt Posted March 27, 2009 Report Share Posted March 27, 2009 I know that a SMLLC is disregarded for federal purposes and income and expenses are reported on a Sch. C. What about the state side? Do I have to do double entry? Once on the Sch. C and then delete it from the state? Once on the 1065 and then only file the 568? Never had one of these puppies before. Help is greatly appreciated. Quote Link to comment Share on other sites More sharing options...
joanmcq Posted March 29, 2009 Report Share Posted March 29, 2009 There's a check box on the 568 for a disregarded entity. Something like 'check if you are filing this form for a disregarded entity and it is only used to calculate the gross receipts tax'. No 1065 required; file the 540 like usual, with the C income, and the 568 with the $800 or whatever to where ever the 568 goes. I haven't done but one of these, hence the really vague instructions. Quote Link to comment Share on other sites More sharing options...
tilt Posted March 30, 2009 Author Report Share Posted March 30, 2009 Thank you, I need to look a little further. Quote Link to comment Share on other sites More sharing options...
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