Wisconsin DOR Publishes LLC Tax Treatment Guide

The Wisconsin Department of Revenue (DOR) published a comprehensive guide on the tax treatment of limited liability companies (LLCs). The publication explains that Wisconsin follows federal classification of LLCs, treating them as partnerships, corporations, or disregarded entities for tax purposes, with specific guidance on how these classifications affect Wisconsin franchise, income, withholding, sales, use, and excise tax requirements. The publication also details the tax reporting responsibilities for LLCs and their members under various scenarios, including resident versus non-resident status. It provides specific instructions for filing requirements and tax credit eligibility depending on whether the LLC is taxed as a partnership, ...