Disregarded entity

Disregarded entity,

Definition of Disregarded entity:

  1. Entity that remains independent from the business owner in terms of tax filing procedures. This classification permits the owner of the business to disclosed income and expenses related to the business on his/her personal income tax return. LLCs that are owned by one individual are classified as a disregarded entity by default.

Meaning of Disregarded entity & Disregarded entity Definition