When Are LLC Federal Taxes Due?

If you operate a limited liability company (LLC), the due date for your federal business income tax return varies depending on how the IRS recognizes your LLC. If you do not make an election with the IRS to have your LLC treated in a special way, the IRS treats your company as a disregarded entity. The due date for disregarded entities is different than the due date for LLCs that elect to be treated as corporations.

Single Member LLC

If you are the only member of your LLC and you have not made an election to be treated as a corporation, by default, your business is a sole proprietorship. You must report your business income and expenses on Schedule C, Profit or Loss from Business, and attach the schedule to your 1040 individual income tax return. Your return is due on April 15.

Two or More Members

If your LLC has two or more members and you have not made an election to be treated as an entity other than the default classification, you are considered a partnership for federal tax purposes. You must file IRS Form 1065, U.S. Return of Partnership Income. The due date for the return is April 15.

Elected Corporation LLC

If you elect to have your LLC treated as a C or S Corporation for federal purposes, your business income tax return is generally due on March 15 each year. If you made an election to be a C Corporation, you must file IRS Form 1120, U.S. Corporation Income Tax Return; if you made an election to be treated as an S Corporation, you must file IRS Form 1120S, U.S. Income Tax Return for an S Corporation.

Payroll Taxes

In addition to LLC income taxes, if your company hires employees, you have payroll deposit and return filing requirements. The IRS requires most employers to make monthly deposits on the 15th of each month to cover taxes withheld from employees in the previous month. You must also reconcile your deposits by filing Form 941, Employer’s Quarterly Tax Return, at the end of each quarter. Returns are due on the last day of the month following the close of a quarter. For example, the first quarter ends on March 31, so your first quarter Form 941 is due on April 30. If you make all your monthly deposits on time, you should not owe payroll tax when you file your return.