Questions regarding setting up and operating Limited Liability Companies
0
votes
2answers
71 views
Operating Agreement for a Single Member LLC?
I will be filing for an LLC very soon (as early as next week) in the state of Tennessee, which does NOT require an operating agreement. I talked with an accountant for a couple hours last week, and ...
3
votes
3answers
935 views
Granting LLC membership units to employees upon sale or acqusition
My company is an LLC incorporated in Massachusetts. We're looking for a way for our employees to participate in any upside if the company is sold or acquired. We don't want to award membership units ...
1
vote
3answers
87 views
How do I pick a bank for my LLC (USA)?
I want to open a business bank account for my LLC to keep my finances separate. How, in general, should I go about shopping for a bank account? Relatedly, are there any particular banks that excel ...
0
votes
1answer
86 views
Can a minor form an LLC in North Carolina?
I am 16, and live in North Carolina. I want to start a software company. I have made some programs that could make some money, and I would like to start an LLC. Is this possible? If not, is there ...
0
votes
1answer
34 views
What entails conducting business in a state?
I am looking to form an Partner LLC in one of the tax haven states. I have been looking up the Pro's and Con's of doing this and it seems the major Con is that you still have to file and pay fee's in ...
1
vote
0answers
97 views
US bank account for LLC [closed]
I am from India and want to setup LLC in USA. I am unable to visit to USA.Is there a way that my friend (who is in USA) open a business account in USA for my LLC. To do so, I can include him in my ...
3
votes
2answers
90 views
Acquiring Tax ID Number
We just got filed as an official LLC in CT and were wondering how we get our Tax ID number(EIN). We would like to open a bank account for the company and assume we need that to open one.
4
votes
5answers
2k views
How do you split a company three ways without repeating decimals?
My co-founders and I have agreed on a completely even split equity of 1/3 each. In our operating agreement,however, we need to put down the percentage ownership stake for each of us, and aren't ...
0
votes
0answers
65 views
Should I form an LLC as I do contract work for registrars as an AS9100 auditor?
I am a certified AS9100 auditor and have been working for myself doing contract audits for registars. Should I form an LLC or continue as I am doing since it's just me?
1
vote
1answer
53 views
What does it mean to be registered as a professional company?
I'm going through the information and application for starting my LLC, and I came across the question:
Will your business be registering as a professional company?
I'm not sure what this means. ...
0
votes
0answers
102 views
What are the benefits for providing free services to a 501 non profit as a LLC?
I have been freelancing as a web designer/developer for about 5 years. Along the way I had a friend who started a 501 non profit and I offered to design and host their website for free. I never got a ...
2
votes
1answer
133 views
Should I be an employee of my wife's single member LLC?
I'm a software developer and for the past 15 years I've been moonlighting in addition to my fulltime job. Back in 2009 my wife formed a single member LLC and we started running our side jobs (she's a ...
1
vote
4answers
148 views
C-Corp vs LLC. How much more complex?
I am starting a technology business with my 50% partner. We are trying to decide between an LLC and a C-Corp. (We are in Michigan) In our case an S-Corp probably won't work too well. I've read a ...
1
vote
2answers
74 views
Tax advantages for LLC in NY or NJ?
My partner lives in NY and I live in NJ. We will be doing business globally. We could have our offices in NJ. We would like to set an LLC in NJ, however, need to understand the tax implications for ...
7
votes
2answers
201 views
Has anyone sold a “fork” version of their software?
I created a SaaS that became quite popular over the weekend. I had a steady stream of users sign up and many are actually still using it (lots of folks who signed up out of curiosity).
Anyway, I ...
2
votes
3answers
142 views
Several different busines pursuits--1 LLC, 1 LLC with DBA, or LLC for each
Just started a seasonal service based company last year. Currently, looking to open up a retail location with residential units above, and manufactoring a product that will be sold in tourist ...
1
vote
1answer
53 views
How does an LLC guarantee a debt?
In regards to LLC protection, if you are the only person in the company and personally guarantee a loan, your assets are not protected if you default. What is the other method of guaranteeing the ...
0
votes
1answer
85 views
Receiving payments for my LLC in my personal bank account
Before I setup my LLC I would receive payments to my personal account. So, going forward is it ok to continue with the way I receive payments, and deposit/transfer manually in the company account? Are ...
1
vote
0answers
95 views
At what income number does S-Corp save you money over a Sole Proprietorship
Situation
Have formed a LLC in New York City. It is single member. Sole purpose is to sell mobile apps. Limited deduction opportunity. Running business part time. From home.
Questions
I'm trying to ...
3
votes
3answers
413 views
How to bring in a partner into an LLC?
The company I am joining is an LLC at the moment. The founder wants me to join as a co-founder of the business and the founder has agreed to give me 15% while he has 85%. We got a partnership ...
1
vote
2answers
58 views
An LLC working in multiple states
I recently filed my company as an LLC expecting to get some small jobs in my local area. Through my professional connections I might land a contract that would span in multiple states across the U.S. ...
0
votes
1answer
79 views
Choose US Bank for international company
I'm opening an Delaware LLC, and now choosing where to open bank account. My company is a very small consulting firm (software development, and we're going to run own product). We're located in ...
1
vote
3answers
827 views
Should one register their LLC/S-Corp, copyright & file their trademark before launching their web app?
I am currently in the process of developing a web application. So I am wondering if I should
register my LLC (or S-Corp)
register the app copyright
file the app trademark (as well as company ...
0
votes
1answer
69 views
Downsides to setting up shell companies for sale?
I see plenty of shell companies for sale through reputable sellers: LLCs that have no tax ID number or bank account and that were established a few months to a few years ago. The market prices of ...
2
votes
2answers
274 views
How to get an LLC license for my Blog business?
I've been blogging for a while now and I would like to establish my blog as a business (LLC). I heard that its the best license that suits a blog business.
Any suggestions as to where I can get the ...
-2
votes
1answer
61 views
Using Paypal for Gifting
I am hoping to generate some revenue by sending out emails to interested people about giving a gift to the company. I am aware in order to say "donation" you must be a 501(c)(3) however if you claim ...
1
vote
1answer
91 views
Transferring inventory into LLC
Formed LLC, but wonder how to account for inventory I've already purchased and will now sell via the company.
I've been re-selling as a hobby, and now converting to a business.
I'm in the US. No ...
0
votes
2answers
82 views
Help me understand a revenue sharing problem
I am part of an LLC with multiple members. We have multiple revenue streams, and expenses that are shared across the revenue streams.
One revenue stream is suppose to be split 50% to the person that ...
1
vote
2answers
488 views
H1B co-founder for company that may not make profit for 3-4 years
Our question is very similar to this one: While H1B can I work on my interested Idea as Startup with no intention of earning?
We have one co-founder on a H1B visa who we want to make a legal ...
6
votes
3answers
4k views
How do you actually setup a vesting agreement for co-founders w/out breaking the budget?
I'm based in Hong Kong. I've read through a lot of information about share vesting for co-founders and realized that is definitely the solution I want. I'm now trying to figure out how to actually go ...
0
votes
1answer
147 views
Actual tax rate for self employment with LLC
There seem to be a ton of LLC related questions and I've been through most of them but I don't see anything that answers my question directly.
Right now I'm on a 1099 and it was suggested that I get ...
0
votes
1answer
56 views
Naming an LLC - conflicting with a service trademark [duplicate]
Possible Duplicate:
Somebody got a trademark for a domain I own. I am planning to launch my service in a week
I'm looking to name a startup (LLC) with what I think is a cool name. Upon ...
1
vote
1answer
78 views
Startup capital and taxes
I'm finishing up a successful KickStarter campaign. The approximately $8000 is going to be used as capital for my software startup. I'm currently structured as a sole proprietorship, so the $8000 is ...
0
votes
2answers
39 views
Start-up SMLLC taxes payment timelines
I have a Single Member LLC in California that started at the beginning of this year. I have a few employees whose payroll is done through a well known bank, and the payroll taxes are adequately taken ...
1
vote
0answers
87 views
What are the exact 2012 costs and requirements of registering an LLC in Nevada?
Myself and a friend run a website.
We want to register as a Limited Liability Company in Nevada for the tax benefits. It's just us two that work on the site. This is a unique situation, though. He ...
1
vote
2answers
160 views
When should I move from Sole Proprietorship to LLC?
As of right now, expenses are close to zero, and income is equal to zero. Risk of law suits is also very low.
At what point should I move over to LLC? When the expenses, income or risk of litigation ...
2
votes
2answers
69 views
I established a multi member LLC and want to elect taxation as an S Corp. What are EIN steps
I have established a multi member LLC and plan to elect taxation as an s corp. Do I obtain an EIN for the LLC (as a partnership) first and then file the form to be taxed as an S Corp. The accountant ...
16
votes
6answers
3k views
How to choose between Cash and Accrual Accounting
I just started my first business. I’m debating on whether to go with cash-basis accounting or accrual accounting. From what I’ve read it seems that cash-basis is the easier method, but accrual is more ...
1
vote
1answer
355 views
Choice of LLC Address when applying for EIN online
I was going through the online wizard in the IRS site to create an EIN and I got to a step where it asked me about my LLC Address. I have not filed my articles of organization yet so obviously I ...
1
vote
1answer
236 views
Can a bank account accept checks written to two different business names?
Is it possible for a bank account to accept checks written to two different parts of an LLC?
For example, I have ABC LLC, which operates at ABC.com, and I accept checks using both the ABC and ABC ...
1
vote
2answers
760 views
Can an LLC operate under two separate business names?
I just started an online retail business in Massachusetts with which I formed an LLC - lets call it "Massachusetts Retail LLC" and it's located at massachusettsretail.com. I highly enjoyed designing ...
0
votes
0answers
51 views
Investor sniffing around - time to launch?
I have a prototype product. I have shown it to a few people and have a couple very interested investors (friends) who want to help me launch a viable product to build a pitch deck and business plan ...
0
votes
3answers
50 views
Seeking Information About the Continued Costs of an LLC. Should I Talk to a Lawyer or Accountant?
I'm sure not which type of professional i should reach out to in order to get the proper advice i seek. I want to know specifically how much it would cost to LLC a company and the continued costs on a ...
1
vote
1answer
90 views
Ballpark figure on one-time tax accountant fees
I've registered an LLC in the US as a foreigner. Registration was no problem, but I find the specific tax laws and regulations difficult, especially because it's hard to find clear information on what ...
0
votes
2answers
110 views
I am starting a consulting firm. My client is in canada but will pay me in US currency. Should I create an LLC or S-corp
I live in California USA. I have a client in Toronto Canada. They are paying me in US dollars and require a corp-to-corp realationship. Should I create an LLC or S-corp?
6
votes
6answers
5k views
Delaware LLC, one person, internet-only business; Do I need to register as a foreign corporation?
This seems like a straightforward, common question that would not require a lawyer to answer, but I'm having a lot of trouble finding an answer to the question in the title.
I would like to form an ...
0
votes
2answers
78 views
Which states do not allow personal negligence to be protected by an LLC?
As a follow up on another question about LLCs, and a comment on an answer -- which states do not allow personal negligence to be protected by an LLC?
1
vote
3answers
113 views
Why should I create LLC company?
I confess I don't quite understand the logic behind creating LLC company..
What are the befenits?
Should I do this now that my product(website) is still in development?
0
votes
1answer
112 views
How to sell a shell company
I have a start-up that I established to sell software online. Nothing much came of the business, and so I'd like to sell the software program to a competitor and sell the business as a shell, perhaps ...
0
votes
1answer
107 views
How to get around florida's public record
I want to start a LLC in florida. However, I am worried about my home address being public info. I know that I can utilize a registered agent, however, the form also asks for the member manager's ...
