Elections and Revocation of Entity Classification
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Choosing the right entity classification for your business is crucial, but sometimes adjustments are necessary along the way. At Notices360, we are equipped to prepare and file for Elections and Revocation of Entity Classification.
What are Elections and Revocation of Entity Classification?
Elections and Revocation of Entity Classification involve choosing or changing the legal classification of your business entity for tax purposes. This decision can impact how your business is taxed, its tax liability structure, and more. Elections refer to making deliberate choices for entity classification, while revocation refers to terminating a current classification.