Is it Too Late To Convert My LLC to an S Corporation for Tax Purposes?

Is it Too Late To Convert My LLC to an S Corporation for Tax Purposes?

Frequently I get asked this question and this answer is both yes and no.

The easy way to convert your LLC to an S Corporation for Tax Purposes is to do so within 75 days of your incorporation date or the beginning of the current tax year. HOWEVER, the IRS has long had on their books/tax law the ability to make the S Election effective an earlier date by carefully following IRS Revenue Procedures regarding the process. We have worked with dozens to hundreds of clients in this process ensuring they convert their LLC to an S Corporation for tax purposes.

For More Information on the Tax Differences on How an LLC vs. an S Corporation are Taxed