LLLC
Can and LLC be taxed as a corpation and if so what is the procedure??

A Limited Liability Company (LLC) is a LEGAL entity, NOT a tax entity. It is basically a poor man's alternative to incorporating in order to shield personal assets from lawsuits.

When you register the LLC, you CHOOSE the tax entity that you wish to use, either sole proprietorship or partnership. You CAN choose subchapter-S corporation as well, but that defeats the point of using the LLC to begin with.

So check your registration paperwork to determine how you registered the LLC, then proceed accordingly.

The fact remain is that an llc nay be able to be treated (taxed) as corporation. I understand there is an irs form granting such election. Appreciate it if you can confirm and advise me of the form number,,

Form 8832, Entity Classification Election