Tuesday, August 16, 2011
Single owner LLC taxed as S- Corp, am I considered an employee?
I live in Washington state and just finished filling out my certificate of formation to form an LLC which is owned and operated by me, and I don't plan on hiring anyone. I am going to elect to be taxed as an S-corporation because of the tax benefits. Now as I'm filling out the Master Business Application there are quite a few questions that end in "Required if you will have employees" (like about unemployment and industrial insurance). Maybe it's just been a long day and I'm reading too much into it, but now I'm wondering, since I'm the owner and will be writing myself paychecks and withholding tax, etc., am I considered to be a hired employee, or is the owner separate from that?
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