Schedule De - Disregarded Entity Schedule - 2015 Page 2
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1
2Instructions for 2015 Schedule DE
Purpose of Schedule DE
The most common disregarded entity is a sin-
gle-member limited liability company (LLC) that
reports its income on its owner's return. An ex-
Schedule DE informs the department of entities
you own that are disregarded as separate enti-
ample is an LLC wholly owned by an individual
ties in the filing of your 2015 tax return.
and the income of the LLC is reported on Sched-
ule C of the individual's Form 1040 federal tax
return.
Who is required to file Schedule DE?
An individual, estate, trust, partnership, tax-
Additional information
option (S) corporation, limited liability company
(LLC), or corporation filing a 2015 Wisconsin
For more information, contact any Department
of Revenue office or:
return must complete and submit Schedule DE
if they are the owner of an entity that is disre-
garded for income tax purposes.
• Call (608) 266-2772
•
Email DORFranchise@revenue.wi.gov
What is a disregarded entity?
Return to Page 1
A disregarded entity is a business entity that:
• has a single owner,
• is not organized as a corporation, and
• has not elected to be taxed as a separate en-
tity for federal tax purposes.
Exception: Some corporations may be dis-
regarded entities. For example, a qualified
subchapter S subsidiary is a disregarded en-
tity under the Internal Revenue Code wholly
owned by another S corporation.
The owner of a disregarded entity reports the
income of the disregarded entity on the owner's
return. If an entity is disregarded as a separate
entity for federal income tax purposes, it is also
disregarded as a separate entity for Wisconsin
income tax purposes.
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