A sole proprietor is someone who owns an unincorporated business by himself or herself. However, if you are the sole member of a domestic limited liability company (LLC), you are not a sole proprietor if you elect to treat the LLC as a corporation.
If you are a sole proprietor use the information in the chart below to help you determine some of the forms that you may be required to file.
|IF you are liable for:||THEN use Form:||Separate Instructions:|
|Income Tax||Instructions for1040, U.S. Individual Income Tax Return (PDF)
Instructions for Schedule C (Form 1040) (PDF)
|Self-employment tax||Schedule SE (Form 1040), Self-Employment Tax (PDF)||Instructions for Schedule SE (Form 1040) (PDF)|
|Estimated tax||1040-ES, Estimated Tax for Individuals (PDF)|
|Social security and Medicare taxes and income tax withholding|
|Providing information on social security and Medicare taxes and income tax withholding||W-2, Wage and Tax Statement (PDF) (to employee)
W-3, Transmittal of Wage and Tax Statements (PDF) (to the Social Security Administration)
|Federal unemployment (FUTA) tax||940, Employer's Annual Federal Unemployment (FUTA) Tax Return (PDF)||Instructions for Form 940 (PDF)|
|Filing information returns for payments to nonemployees and transactions with other persons||See Information Returns|
|Excise Taxes||Refer to the Excise Tax web page|