Yes and no. Yes, the subsidiary’s revenue must be reported through filed taxes. No, an LLC subsidiary does not need to file its own taxes—usually. Since an LLC’s default tax status is as a pass-through entity, the subsidiary’s owners (usually the parent LLC in this case) must report all revenue on their own tax return. An exception to this is if the LLC subsidiary elects to be taxed as a C-corp, in which case they would file their own taxes.