Question

what is Filed By an entity that is electing to be taxed as a C corporation

Answer 1

Partnerships and Limited Liability Companies can file IRS Form 8832 to be taxed a C corporation. Businesses file this form if they want to be taxed as different kinds of companies, like a corporation.Business entities are given a default tax classification (i.e. a multi-member LLC is taxed as a partnership unless it changes its tax status). Sometimes businesses can pay thousands of dollars less in taxes, just by changing how the business is taxed.The IRS restricts which entities are eligible to file Form 8832. Limited liability companies and partnerships are two of the most common eligible entities. Certain foreign corporations can also file this IRS form, as can foreign corporations owned in the United States in certain jurisdictions.