LLC Questions

A corporate structure whose members cannot be held personally liable for the company's debts or liabilities. Combines characteristics of corporations and partnerships or sole proprietorship.

0 Votes
2 Answers
679 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...

LLC
asked Jan 20 '13 at 03:09
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David W
128 points

0 Votes
1 Answers
644 Views
LLC with 2 members vs Corp to Corp

I am considering forming an LLC, developing a B2B service platform. I am an independent consultant/developer, and have been working with another individual for several years. Over this time, we...

asked Jan 24 '13 at 03:18
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Conrad
108 points

1 Votes
1 Answers
631 Views
Most Appropriate Business Type for Selling a Virtual Product?

I run a business where sells certain ebooks and pdfs online. I want to form an official business entity just to be able to operate under that name, protect myself from liability as well as get any...

asked Dec 30 '12 at 14:47
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Clifgray
200 points

3 Votes
2 Answers
630 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.

asked Jan 2 '13 at 06:40
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Matt Clark
135 points

0 Votes
1 Answers
629 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...

asked Jan 11 '13 at 11:48
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User22258
31 points

1 Votes
3 Answers
802 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...

asked Jan 12 '13 at 14:04
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Max
108 points

1 Votes
4 Answers
849 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...

asked Dec 5 '12 at 10:00
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Thread7
11 points

2 Votes
1 Answers
3.7K 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...

asked Dec 8 '12 at 03:50
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Dar Lom
113 points

1 Votes
1 Answers
494 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....

LLC
asked Dec 11 '12 at 05:39
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Doctor Oreo
106 points

0 Votes
2 Answers
7.29K Views
Tax haven in Delaware with a single-member LLC formed by a non-resident alien?

While I'm researching what I need to pay in taxes for my LLC formed in Delaware (I'm a non-resident alien from China), I found this page which is very interesting:...

asked Nov 22 '12 at 20:02
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Kavoir.Com
129 points

2 Votes
1 Answers
2.53K 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...

asked Nov 24 '12 at 08:28
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Drc
118 points

1 Votes
1 Answers
699 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...

asked Nov 28 '12 at 02:58
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4th Space
125 points

0 Votes
1 Answers
784 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...

asked Nov 7 '12 at 01:41
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Igor Artamonov
113 points

1 Votes
2 Answers
635 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...

asked Nov 17 '12 at 00:48
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User21643
6 points

0 Votes
2 Answers
664 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...

asked Nov 3 '12 at 23:30
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User6492
1,747 points

1 Votes
2 Answers
506 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...

LLC
asked Oct 5 '12 at 02:41
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J O
6 points

1 Votes
2 Answers
1.34K 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...

asked Oct 7 '12 at 03:08
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Sam
20 points

1 Votes
1 Answers
1.64K 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...

asked Oct 12 '12 at 09:16
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Rob
6 points

-2 Votes
1 Answers
522 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...

asked Oct 13 '12 at 18:10
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Grant Wilkinson
105 points

1 Votes
1 Answers
645 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...

asked Sep 21 '12 at 02:28
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Joe
6 points