Kiritsis & Associates


3 Tax Benefits of Single Member LLCs. . -- Kiritsis Law Firm Group 212 922 0005

Apr 27, 2021

Single member LLCs are arguably, one (if not the most) favored entity for tax purposes.

1. Flexible tax treatment. A single member LLC is generally treated as disregarded entity for federal income tax purposes, which means it receives pass through tax treatment. But, it can also elect to be taxed as a Corp. In addition, single member LLCs upon meeting certain circumstances, as well as, the jurisdiction of their formation, could transition to choosing S Corp tax election. 

2. Eligible for 20% income deduction. Despite having just 1 owner, single member LLCs are still eligible to receive the new tax law break of the 20% income deduction, if the meet certain criteria. 

3. Members could be non-resident aliens.  This is in sharp contrast to S Corps, where nonresident aliens, are not allowed to own S Corp stock.  Nonresident aliens, at least per federal tax laws, could be partially or fully owners of single member LLCs.


Law Offices of Kiritsis & Associates 

Phone # 212 922 0005

Manhattan Office (Main Office):

633 Third Avenue

New York, NY 10017

Suite 1306

Brooklyn Office (By Appointment Only):

1023 74th Street

Brooklyn, NY 11228

1st Floor

New Jersey Office:

7309 Ventnor Avenue

Ventnor, NJ 08406

2nd Floor



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