Authority and currency
About this authority
- Publisher
- Internal Revenue Service
- Standing
- Primary authority
- Version
- Web page checked September 6, 2026
- Relevant parts
- Business structures; sole proprietorships, partnerships, corporations, S corporations, and LLCs
- Currency
- current · checked Sep 6, 2026
The Internal Revenue Service (IRS) describes common business structures and their federal tax implications. A limited liability company (LLC) is formed under state law; its federal tax treatment can differ from its legal form.
Use this page for terminology and tax context. It does not decide which activities belong in a company's general-purpose financial statements or provide all state-law formation and liability rules.