US EditionCan a Partnership Elect to Be an S Corporation?
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Can a Partnership Elect to Be an S Corporation?
If you’re operating your business as a Partnership, you may be wondering if it’s possible to change to an S Corporation. While converting directly from a Partnership to an S Corporation for tax purposes isn’t allowed, there is a way to get there—if the owners of a Partnership change their company’s legal structure to a Multi-Member Limited Liability Company. A Multi-Member LLC, which is normally taxed as a Partnership, may elect to be considered…
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