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- Can a husband and wife operate a business as a sole proprietorship or do they need to be a partnership?
- Are partners considered employees of a partnership or are they considered self-employed?
- I recently formed a limited liability company (LLC). The LLC has no employees, is not subject to relevant excise taxes and has not elected to be taxed as a corporation. Do I need a separate federal tax ID number for the LLC?
- For IRS purposes, how do I classify a domestic limited liability company? Is it a sole proprietorship, partnership or a corporation?
- Must a partnership or corporation file a tax return even though it had no income for the year?
- Can you give me plain English definitions for the following: (1) a closely held corporation, (2) a personal holding corporation, and (3) a personal service corporation?