What should I choose as my business type in Form 2290?
1.1k views | Last modified 8/26/2020 3:29:02 AM EST | Added by ExpressEfile Team

Applicable To
Form 941 Form 1099 / W-2 Form 2290

While filing your Form 2290, you have to provide your business details like business type along with your business name, EIN, and DBA name. The business entity type is based on how your business is taxed. Here are the available business types:

  • Sole Proprietor or Single-Member LLC: Choose this type if your business has a single owner.
  • S-Corporation or LLC as S-Corp: Choose this type if your business is a standard corporation or you’ve elected your LLC business to be taxed as an S-Corporation.
  • C-Corporation or LLC as a C-Corp: Choose this type if your business is a corporation having some tax advantages with the IRS. It is basically an S-Corporation with special tax status.
  • Partnerships or LLC as a partnership: Choose this type if your LLC business has two or more owners. Partnerships are different from the LLCs because the partners are liable to any debts in the business, unlike the usual LLCs.
  • Estates: Estates are considered as properties of people. Small scale businesses that consider themselves as Estates can choose this as their business type.
  • Trusts and Fiduciaries: Trusts that are required to file Form 2290 can choose this as their business type.
  • Exempt Organizations: Organizations exempted from paying federal taxes by the IRS are considered exempt organizations.
  • Others or Not Sure: If your business doesn't come under any of the types mentioned above, you can choose this as your business type.

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