Q: We are currently a Limited Liability Company organized in the State of Michigan. As such we file taxes by attaching to a 1040 schedule C. As recommended by our tax professional, we should submit a request to the IRS to be recognized as a “S” Corp. This would be merely a tax designation with the IRS from our understanding and does not change our corp structure as filed in Michigan. Our question is: By attaining “S” corp status with the IRS, does it require us to re-apply for a new FFL or notify the ATF in any way about the proposed designation with the IRS?
View the answer to this and thousands of other questions in our client-only Support Center.View Answer