Single-Member LLC in Georgia


T

Titus Barik

I know that for federal tax reporting purposes a SMLLC is a
disregarded entity and one must simply use the 1040 Schedule
C with their normal personal tax returns.

However, for state taxes in Georgia, what must be done for a
SMLLC? Is it similar? I'm having a hard time finding
anything on gatax.org about taxation for an SMLLC. I assume
that I only have to fill out a Georgia Form 500 and the
"Pass Through Credits from Ownership of LLC" section.

Is this correct?

Thanks,
 
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W

Wayne Brasch

Titus Barik said:
I know that for federal tax reporting purposes a SMLLC is a
disregarded entity and one must simply use the 1040 Schedule
C with their normal personal tax returns.

However, for state taxes in Georgia, what must be done for a
SMLLC? Is it similar? I'm having a hard time finding
anything on gatax.org about taxation for an SMLLC. I assume
that I only have to fill out a Georgia Form 500 and the
"Pass Through Credits from Ownership of LLC" section.

Is this correct?
I believe you are correct.

Wayne Brasch
 
Last edited by a moderator:
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P

Paul A Thomas

Titus Barik said:
I know that for federal tax reporting purposes a SMLLC is a
disregarded entity and one must simply use the 1040 Schedule
C with their normal personal tax returns.

However, for state taxes in Georgia, what must be done for a
SMLLC?
Georgia follows Federal laws, for the most part.
Is it similar?
The AGI of your 1040 (which includes your Schedule C income)
are the basic starting point for the Georgia 500.
I'm having a hard time finding anything on gatax.org
about taxation for an SMLLC. I assume
that I only have to fill out a Georgia Form 500 and the
"Pass Through Credits from Ownership of LLC" section.

Is this correct?
Yup. Be sure to check for any adjustments that need to be
done, Schedule 1 of Form 500.
 
Last edited by a moderator:

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