Questions regarding setting up and operating Limited Liability Companies
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1answer
429 views
How to convert a single member LLC into a LLC with multiple members?
I started as a single member LLC. I found some great partners. How do I add them into the LLC as members?
What needs to be signed between us, is there a specific document we should maintain?
Who ...
1
vote
1answer
81 views
Using DBAs For LLC
I am in the process of forming a LLC so that I may sell a product with the protection that an LLC affords. I am the sole member of said LLC.
I now have two more completely unrelated (to the LLC, but ...
2
votes
2answers
70 views
Are there restrictions on names for an LLC in California?
I'm forming a LLC in California in the coming months and I have come up with a few good names. Can I simply pick the one I like best and run with it (have graphics made, etc) or is there a chance that ...
0
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2answers
151 views
At what point do expenses turn to LLC expense?
I recently formed an LLC for a small idea I have, the LLC go effective in FL, USA on the 20th of this month. I have an EIN. At what point do expenses go on the books for the LLC? Is it when the LLC ...
9
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3answers
5k views
Simple Overview of LLC Pass Through Taxation
I understand that an LLC filed as a Partnership to use Pass Through taxation is not required to pay quarterly taxes. In this scenario, the owners pay taxes on the dividends received.
But how does ...
2
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1answer
137 views
Where are the owners of an LLC recorded?
Most states do not require an LLC to publicly disclose the names of its members. Where are the LLC's members recorded? Is it only in the Operation Agreement? I know ownership is assigned in the ...
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2answers
213 views
What am I legally allowed to call my 'company'?
I'm a student, and I'm interested in making apps/websites. Thus, I registered for a Student account with App Hub {WP7 dev program.} I also made a website where people can play my HTML5/JS based game.
...
1
vote
1answer
73 views
LLC and Making Agreements with Others
About a year ago, I started my own (Michigan) LLC, of which I am the sole member, so that I could release an Android application that I developed as part of my computer science program.
Now, I have ...
2
votes
2answers
117 views
my business is in my legal name i.e. “John Smith” do I still need a DBA to form an LLC?
Being an independent artist, if my business is in my legal name i.e. "John Smith" do I still need a DBA to get an LLC ? The bank was asking for a DBA.
2
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1answer
183 views
Proof of managing director or signing officer for a LLC
I'm a member of a domestic US LLC, formed in the state of Delaware. I'd like to open a foreign exchange account with a vendor for my LLC to pay my suppliers in Europe.
The vendor requires a ...
6
votes
1answer
615 views
How To Open US Business Bank Account For LLC Without Going to US
Recently opened a LLC in USA, I am non-US citizen, do not live in USA, we are running an ecommerce business, now we need to open a business bank account for this LLC without physically walking into ...
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2answers
277 views
LLC no money earned
We registered an LLC company. The company has not made any money, do I still need to pay the California state tax?
PLease let me know.
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1answer
97 views
Affiliate Marketing Income - When Should I LLC or Incorporate?
I am currently making a decent amount of income from affiliate marketing (people go to my site, click my link for product X, and if they buy product X, I make a percentage of the sale). I am ...
1
vote
1answer
263 views
LLC profit/loss distribution in case of mid year ownership change
I understand that profit/loss is distributed among the LLC owners according to their ownership stakes.
What about if profit/loss if the ownership stakes change? Say for example, there are 3 owners, ...
0
votes
1answer
56 views
best way to split/license domain name
i currently own a domain name in the name of an LLC. ideally, we'd like to license subdomains (e.g., productA.example.com, productB.example.com) to developers to develop applications that generally ...
1
vote
2answers
1k views
What date to use as business “start date” when filing for an EIN?
My LLC was formed as of yesterday. I am now in the process of applying for an EIN through the IRS. The application asks for my business start date. I am an online business, and have not technically ...
2
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1answer
584 views
Start and Operate an LLC from India
I am from India and we are planning to set up software company which will have majority of clients from US. We wont be having any company representative over there and we will operate from India. I am ...
2
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1answer
1k views
If I sell my LLC in an equity deal will I be taxed for long term capital gains?
I founded a startup in late 2008, as a sole proprietorship LLC. I was the only member in the LLC. It stayed that way until August of 2011, less than a year ago, when I added a minority partner to the ...
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vote
3answers
1k views
Didn't file LLC tax return for first calendar year, but no income/outflow
I formed an LLC 18 months ago, in 2010. Nothing happened in 2010- it didn't issue equity; it didn't have any income; and it didn't have any expenses (other than formation expenses, which I paid ...
1
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1answer
119 views
LLC formed in WY, registered as Foreign LLC in CA, where to open business bank account?
Online, home-based company. Should I open a business bank account in WY or CA? Does this even matter? What different things do I need to be considering when making this decision?
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1answer
175 views
File your LLC's tax return before your own?
I am one of 2 members of an LLC that I started. The LLC had no income in its first year-only a small loss. I'm reflecting my share of the loss, as on my K-1, on the my own tax return.
If I file my ...
1
vote
2answers
215 views
Is it possible for a teen to form an LLC or C-Corp?
Is it possible for a teen to form an LLC/C-Corp? If so, what are the costs, the process and the requirements?
I'm a US Citizen but currently live in Bosnia. I'm 17, turning 18 on December 2nd.
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2answers
205 views
Which Delaware LLC package should I purchase?
If I am planning on starting an internet based LLC, which package should I purchase? Economy, Basic, or the Complete Package?
...
2
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1answer
70 views
What if I decide that I want to change the state that I formed my LLC in to a different state?
For example, say I form my LLC in Delaware and then decide several months down the road or maybe even a couple years down the road that I want to change the state to Florida and form my LLC in Florida ...
1
vote
1answer
49 views
Attorney vs. Other Document Filing Company for Registered Agent/Service of Process in CA? Which is better?
I am trying to find a service of process representative (also known as a Registered Service Agent in states like DEL for example) for when I form my LLC in CA. Is it better to go with an attorney's ...
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2answers
161 views
Self employed. Protecting trading names?
I've been researching Limited Company vs Self Employed and I think I prefer being self employed until things get bigger, etc. However I can't seem to find anything saying how to protect a trading name ...
2
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1answer
427 views
How to get hold of extra money if my company is LLC but elected to be taxed as S corp
I live in miami and am about to form an LLC. I have also decided that I would elect to have my LLC to be taxed as S corp. I will be the only employee for next 6 to 9 months.
Since it is a S corp I ...
2
votes
2answers
209 views
I formed an LLC on November last yr and dissolved it on December, should I report this LLC to IRS?
I formed a Delaware LLC on November last year, and soon I found that the c-corp is more suitable for my situation, so I decided to dissolve this LLC, it has been dissolved on December last year ...
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1answer
230 views
How will a registered agent protect my privacy?
If I get a registered agent for my LLC, does that truly protect my privacy? So if an employer, friend, coworker, relative, etc wanted to find out who owns the company, could it be done?
What are the ...
1
vote
1answer
163 views
What is a registered agent?
I'm researching how to start an LLC. I found a site called LegalZoom and when you fill out the forms, one question they ask is:
Who will serve as the Limited Liability Company's registered agent?
...
5
votes
2answers
896 views
Should I form my LLC in NY or NJ for a mobile app company?
Two friends and myself are developing a mobile app that we will sell on the Apple app store and the Android marketplace. We have decided to form an LLC to sell the application. Two of us are located ...
2
votes
1answer
121 views
LLC vs Corp - anonymonity of equity partners?
My startup has one or more equity partners that, at this time, prefers to remain anonymous. Does an LLC have any disadvantages over a Corp in this regard? The anonymous will not be on the board if we ...
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2answers
174 views
LLC Tax Laws ::: Groupon Vouchers
TheCompany, LLC is a Groupon type service that offers local business discounts in the form of a redeemable voucher.
I, TheCompany.com will offer a platform that businesses can make "Daily Deal" type ...
2
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4answers
690 views
Nevada LLC, Living in Washington, business income from United Kingdom
I am new to US Tax law and have a unique situation.
I want to establish a USA LLC, perhaps Nevada or Delaware with a UK bank account
I will be emigrating from the UK to live in Washington State(no ...
1
vote
2answers
632 views
Equity split and keeping control of an early startup LLC in the long term
The CEO of an early stage LLC plans to keep control of the company in the long term. To achieve this, he plans on keeping at least 51% of the equity. The company has 6 founders in total.
While it is ...
3
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1answer
163 views
Undisclosed equity: advantages and disadvantages
The CEO of a LLC early startup plans to distribute equity among the founders. Each founder will not know how much equity the other founder has.
What are the advantages and the disadvantages of doing ...
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3answers
229 views
Are you taxed on revenue or income?
As a single owner of an LLC, are you required to pay taxes on the LLC's profit or revenue?
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1answer
225 views
Does opening a bank account for an llc make a person personally responsible for the account?
I've asked a bank what they require in order to open a bank account for an llc, and the main thing was a "certificate of good standing".
Since the "certificate of good standing" or even the "article ...
6
votes
3answers
5k views
As a member of an LLC, how do I pay myself a salary? 1099 or W-2?
If I am a member of my LLC can I be paid as an employee and be on a payroll? Is this different in each state or is it federally regulated? If our LLC is to have employees do we need a different number ...
1
vote
3answers
559 views
What is the definition of capital account?
It seems that it's a virtual term. It is not a bank account. It is the net result of gains-losses. And it seems that there are two types of such accounts – the llc's, and members'. The account should ...
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1answer
55 views
1
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2answers
70 views
I can't seem to find this answer anywhere regarding LLC
I live in CT but I have office space in NH, where would I register for an LLC? I don't plan on moving there and have employees in NH, so what should I do?
4
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4answers
147 views
Need to form company now, but want to make ownership / equity distribution decisions later
(background - few startups, business side)
This is a situation that I've encountered a few times before. Seems not uncommon among startups.
You're kicking around an idea - let's say there are 2-3 ...
4
votes
1answer
5k views
How To Transfer Money Between Personal & LLC Bank Accounts
I'm starting a very small business out of my home in Texas. I've formed the LLC and opened a bank account for it.
How should I handle putting my own money into the business account so I can avoid ...
0
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2answers
228 views
A start up with 10k award, formed LLC, now how to pay my tax
I have a start up that received 10k award from a business competition. I formed LLC to start my business, now my question is how can I minimize my tax reliability.
1) Should I state in my return ...
0
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1answer
175 views
Where should I register my LLC? (US national living abroad)
I have an Internet-based business that I will launch hopefully in the first half of this year. I am the only employee and I don't anticipate growing for the foreseeable future. However, to protect ...
0
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1answer
260 views
How to tax deduct Home Office in an LLC with multiple members?
I have an LLC with multiple partners (members) that work from home. We're a tech startup company. We each work from home, and want to take advantage of the home office tax deduction. Is this possible? ...
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0answers
103 views
Compensation for Board of Advisors of an LLC [duplicate]
What is the best way to compensate a Board of Advisor of an LLC? We have just started a company and would like to have about 3 advisors. A couple of the managers know some influential people who ...
1
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1answer
496 views
Taxes on non US-resident LLC owner?
I am working on launching an online product site and registering it as an LLC in Delaware. I am a non-US resident and will get the company registered through LegalZoom.com or Incorporate.com. It would ...
1
vote
1answer
102 views
Partners in an LLC
I'm about to bring on two partners in my LLC. However both have indicated that the "partnership" would be between my company and each of their incorporated entities.
Is that normal?
What is the ...
