Single Member LLC - Tax Classification
I have created an LLC this LLC will only have 1 member which is me, and I have gotten the LLC a EIN number through the IRS main site, now I'm confused on how to update the tax information in Amazon Seller Central. There are two options: "Individual" and "Business." It says for the Individual option, it also includes single member LLCs. Do I choose that option and just add the company name and EIN number I got from the IRS for the LLC? If I were to choose "Business," there is a selection for tax classification that includes options such as S-CORP and C-CORP. I'm not sure which one of these I should choose. What is the correct way to update tax information in Amazon Seller Central for a newly created LLC with only one member, considering the options of "Individual" and "Business," and the tax classification options such as S-CORP and C-CORP?
Single Member LLC - Tax Classification
I have created an LLC this LLC will only have 1 member which is me, and I have gotten the LLC a EIN number through the IRS main site, now I'm confused on how to update the tax information in Amazon Seller Central. There are two options: "Individual" and "Business." It says for the Individual option, it also includes single member LLCs. Do I choose that option and just add the company name and EIN number I got from the IRS for the LLC? If I were to choose "Business," there is a selection for tax classification that includes options such as S-CORP and C-CORP. I'm not sure which one of these I should choose. What is the correct way to update tax information in Amazon Seller Central for a newly created LLC with only one member, considering the options of "Individual" and "Business," and the tax classification options such as S-CORP and C-CORP?
Seller_EkbLZUYSpmJEy
Ok ... we suggest you have a conversation with the person who does your taxes and, if you don't have one, then find an accountant (CPA) so that you understand where you are going with your business and taxes.
The legal entity on Amazon is the owner of the Amazon account and the one who will pay taxes on the sale income.
The business address will be displayed on your public seller profile page and Amazon may verify the address and phone number.
Official Registered Address is the address at which your business is legally registered (where the business licenses for you or the LLC is located).
You will probably do taxes with a schedule c (the IRS form for reporting business activity on individual taxes) as all of the income generally passes through a single member LLC to the owner (you). Thus, you will probably need to verify as an individual on Amazon.
However, as we suggested, talk with your tax accountant (CPA) to verify how you are going to set up your taxes before proceeding.
15 respuestas
Seller_EkbLZUYSpmJEy
Amazon treats single member LLCs as an individual.
Do you file your IRS taxes as an individual with a schedule c?
Or do you file your business income separate from your personal IRS taxes and as a business filing the taxes with the IRS?
Seller_V9DcJUL22kSWo
Hi, I am not sure what is meant by schedule c, I file a W2 form every year for the tax return for my personal income from my full-time job, I created this LLC 2 weeks ago, I have never paid any taxes for the LLC yet, my main goal for the LLC is to change my amazon seller central name to the LLC right now it is showing my personal name, I am also not sure how the ungating process would work if i change my amazon name to my LLCs name that would mean all the invoices I have under my name will not get me ungated if i change it now, is that right?
Seller_EkbLZUYSpmJEy
Ok ... we suggest you have a conversation with the person who does your taxes and, if you don't have one, then find an accountant (CPA) so that you understand where you are going with your business and taxes.
The legal entity on Amazon is the owner of the Amazon account and the one who will pay taxes on the sale income.
The business address will be displayed on your public seller profile page and Amazon may verify the address and phone number.
Official Registered Address is the address at which your business is legally registered (where the business licenses for you or the LLC is located).
You will probably do taxes with a schedule c (the IRS form for reporting business activity on individual taxes) as all of the income generally passes through a single member LLC to the owner (you). Thus, you will probably need to verify as an individual on Amazon.
However, as we suggested, talk with your tax accountant (CPA) to verify how you are going to set up your taxes before proceeding.
Seller_V9DcJUL22kSWo
Thank you for the valuable information, much appreciated.
Seller_LjCzXKXywtnna
I'm having the same problem, is showing my personal name. I need to update it with my LLC name, what did you do to fix it?
did you fill in as an individual and with your LLC EIN #?
much appreciated!
Seller_ykEDmfbTJSz29
I have the same problem. But there is no solution under this title. There is only useless information. Have you found any solution??
Jameson_Amazon
Hi @Seller_V9DcJUL22kSWo,
Thanks so much for the thread here!
I see that you have already received some great information from @Seller_EkbLZUYSpmJEy(thank you for that!)
I also wanted to send over this help page that may provide some additional helpful info for you: https://sellercentral.amazon.com/help/hub/reference/GVYFQEJQAF2TSYEH
I hope this helps! If you have any additional questions, please let me know.
Thanks again,
Jameson
Seller_ykEDmfbTJSz29
I have the same problem. But there is no solution under this title. There is only useless information. Have you found any solution?
