Entity Types and Tax Classifications
Equipath supports a full range of legal entity types and their associated tax classifications.
Supported Entity Types
| Type | Description |
|---|---|
| LLC | Limited Liability Company — flexible pass-through or corporate taxation. |
| Corporation | C-Corp or S-Corp election. |
| Partnership | General or Limited Partnership. |
| Trust | Revocable or Irrevocable Trust. |
| Sole Proprietorship | Individual business entity. |
| Non-Profit | 501(c)(3) or other exempt organization. |
Tax Classifications
For LLCs, you can specify the federal tax classification:
- Disregarded Entity — Single-member LLC taxed as sole proprietor.
- Partnership — Multi-member LLC with pass-through taxation.
- S Corporation — LLC electing S-Corp status.
- C Corporation — LLC electing C-Corp status.
Why This Matters
The entity type and tax classification affect which compliance filings are relevant. Equipath uses this information to suggest appropriate filing rules when you add registrations.
Tip: If you change an entity's tax classification (e.g., S-Corp election), update the entity record promptly so filing suggestions remain accurate.