Single-member LLCs are considered as a disregarded entity by the IRS and they are taxed as a sole proprietorship for federal tax purposes. They can elect to be taxed as either C corporation or S Corporation or continue to remain as a disregarded entity.
Here is how a Single-member LLC files an extension:
- Log in to ExpressExtension.
- Click Create Business Tax Extension (Form 7004) on the dashboard.
- Enter the business details and click Next
- Select the Business Entity Type as Limited Liability Company (LLC)
- If your LLC is elected to be taxed as Corporation, select Multi-Member/Single Member LLC as a Corporation. Otherwise, you need to file Form 4868.
- Select the form to extend (For C Corporation, choose Form 1120 and for S Corporation, choose Form 1120S) and click Next.
- Enter the Tax Year and the Tentative Tax and complete the form.
Once filling all the details, review the form, make a payment, and transmit the extension.