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.

2 Votes
2 Answers
2.78K Views
Ownership without investment. Help

I started work at a company a few months back. I was brought in to head up a new division in the company. That division is separating as it's own LLC. I won't be investing any money into the new...

asked Feb 2 '13 at 02:43
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Jane
11 points

1 Votes
1 Answers
2.73K Views
Single-member LLC and filling out tax forms for advertisers who pay me

I have accounts with various advertisers and affiliate companies - let's just say Amazon Affiliates for the purposes of this discussion - and I've now registered a single-member LLC. During the...

asked Feb 8 '13 at 11:05
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Artem Russakovskii
106 points

1 Votes
3 Answers
9.42K Views
Transferring money out of LLC business account to a personal account to pay a international supplier to avoid wire transfer fee

Our newly formed LLC (2 members) has a business checking account. It has a rather high international wire transfer fee for sending out payments from the US to overseas ($45). My partner suggested...

asked Jan 19 '13 at 17:42
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User23618
6 points

0 Votes
2 Answers
2.36K 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
2.52K 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
2.3K 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
2.49K 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
2.6K 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
2.64K 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
2.69K 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
5.98K 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
1.83K 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
9.88K 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
4.73K 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
2.4K 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
2.62K 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
2.16K 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
2.12K 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
1.7K 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
3.24K 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