chepest Us LLc formation?
- Thread starter bugmyday
- Start date
jonathan169
Junior Member
- Aug 19, 2020
- 114
- 44
Another deal (amonst all the "noise) I found was $100 state fee + $25 service + $ 25 agent fee + FREE Use of address + 5 mail items scanned (junk sorted) = $150 year 1 / $25 Agent Fee Only year 2. So, you can get Ein yourself max $15-$50 (fiverr). (Ein needed for Business Bank Account - Mercury).
Hope this info helps, I still have no conclusion I'm planning for Q1/22 and still looking for the right "deal", so this is by no means a perfect answer.
Hope this info helps, I still have no conclusion I'm planning for Q1/22 and still looking for the right "deal", so this is by no means a perfect answer.
jonathan169
Junior Member
- Aug 19, 2020
- 114
- 44
STOP
Change all that I have just formed an LLC and finally went with a Lawyer who is offering a secure deal. if you want details message me, I'm not posting will get snitched on for promoting.
Change all that I have just formed an LLC and finally went with a Lawyer who is offering a secure deal. if you want details message me, I'm not posting will get snitched on for promoting.
jonathan169
Junior Member
- Aug 19, 2020
- 114
- 44
Just got my Ein 6 days not bad for start of year (always more registrations) and covid, with a PDF file. So, the guy I used was great. And everything running smooth so far.
stealthlurker
Junior Member
- Jan 10, 2021
- 108
- 44
You can literally file it yourself on Secretary of State website. Just need to pay state filing fee and you're done. I recommend low tax business friendly states such as Wyoming, Texas, Florida, Delaware and New Mexico..etc. Beware every states has different structure for fees. Some states may require you to pay annual fee etc. So make sure to do research.
jonathan169
Junior Member
- Aug 19, 2020
- 114
- 44
Done Buddy.(03/Jan/22)..it's all about the second line of creditors defence=[Charging Order Protection] (and the zero tax), and for me, it's not even about the zero tax as such as all single-member LLCs are 'disregarded" anyway and pass through to YOU.
DuckingOutstanding
Senior Member
- Dec 22, 2015
- 1,108
- 769
It's very easy for you to set one up from no matter where you are for free.. The Nevada Secretary of State AND the Wyoming Secretary of state websites actually each have a "wizard" to help navigate you through the process..
The only thing you would have to pay are the registration fees (which those two are the cheapest) Last I looked Wyoming was the cheapest, and Nevada was the second cheapest... You don't have to have ever set foot in either of those states (or even this country) to register an LLC in either of those states... You will need what's called a "registered agent" - basically an address of someone in that state that can hold a copy of your forms... Most companies that offer business mailing addresses (which will be helpful for your company to have a physical street mailing address in that state) will include that for free - otherwise you can google "wyoming registered agent' or "nevada registered agent" and find provdiders with pretty cheap rates - you can probably find one that will be your registered agent for $40/yr
jonathan169
Junior Member
- Aug 19, 2020
- 114
- 44
There is a problem with: [Charging Order Protection] in Florida,,,it has been "legally" challenged (also: Utah, Nevada, Washington, California, Hawaii, and Illinois) What remains = top 4 are: Wyoming, Texas, New Mexico and Arizona. There is something funny with NM sales tax (gross receipt tax) I forgot it's either the Nexus is diff, or you need an additional form...if trading in NM, and Texas is $300 form/ $0 annual, with no advantage part from Sales tax. BTW...Delaware is $90 Form / $300 renewal fee. Arizona and New Mex are interesting both only $50 form / no renewal fee.
So, in the end, its Wyoming, and SURE you could file yourself, for $102, BUT...create all the documents and mess it up, or I paid someone else to do it for $224 (completed in 8 hours) and used their address, name and even got a letter of good standing issued by SOS-WY. So, I'm happy with my deal. 6 days later I have my EIN (through a diff. source), so the start has begun.
Further the key in all these LLCs is you need a US business address not a PObox, or an Agent (use their details), so you must find that solution when "filing" yourself, which is fine, until you start to compare a "package" price with the individual elements and you come full circle and go for the package that is prepared by a specialist (preferably an attorney/lawyer).
DuckingOutstanding
Senior Member
- Dec 22, 2015
- 1,108
- 769
IOh yeah - and Wyoming there are no business taxes, income taxes, corporate taxes or capital gains taxes - and they are the only state in the US that has it written into their constitution that they do not report earnings to the IRS.... They are also the state that is most difficult to "pierce the corporate veil" - a lot of states (like california which you would NEVER want to register a business in because they are by far the most greedy and expensive and require not only the highest fees in any category, but the largest number of separate fees in in addition to the fact that their filing/registration is 10x that of wyoming - also pretty much any of the others - TX, FL, AZ, NM) if you make ONE mistake - forget to dot an "i" or cross a "t" or do anything that could be construed (even if it's a stretch) as "comingling assets" and you're fucked with no protection - Wyoming makes it VERY difficult to pierce the corporate veil ...
New Mexico is the only state that doesn't require the names of the Owners/Operators to be public, but the benefits end there
If you are getting a vehicle and there's a chance you might miss payments down the road, have it transferred to a Montana LLC - in Montana, a vehicle registered to a business cannot be repossessed under any circumstances (this includes any sort of vehicle including boats, cars, trucks yachts, airplanes lol) but the benefits end there...
jonathan169
Junior Member
- Aug 19, 2020
- 114
- 44
Exactly, and that's before we look at a LLC holding or a Series LLC. And end of the Day I actually like Wyoming...gives me a good vibe. :.). NM was 2nd option BUT "add ons expensive", and the lack of "protection" just sent me right back to WY.
code API
BANNED - Failed to resolve a dispute
- Oct 20, 2018
- 6,377
- 3,517
This is by far the best advice OP.
In this new year January, I took the plunge to really separate myself/personal bank account from my business bank account and googled the hell out for solutions on the internet until I stumbled on Mercury.
I love Mercury, those guys really care about opening a Corporate bank account for your business as a US non-resident LLC. It's a web development and marketing agency. No SSN is required. Just use your EIN. Within 3 days, I got my LLC approved for a real brick-and-mortar bank account that also comes with VCC. Mercury provided me with both Checking and Savings account.
I already formed an LLC in Missouri for our web development agency way back in Oct 2020 during my MSc (2019-2021) when I was in Gujarat India on a scholarship. I used the service of Incfile to do the filing as I didn't wanna screw it all up. So I took their biggest package which also got me an EIN.
Missouri requires no states fee and annual bs. Comes what may, my registered agent handles the paperwork and all the hassles. I pay $40 per year to the registered agent, also I'm allowed to use their address as my official business address in the US.
PS: I'm from Africa.
Last edited:
jonathan169
Junior Member
- Aug 19, 2020
- 114
- 44
I found a dude (separately) who got my EIN for $30 in 5 days, the corporate services just for the EIN kinda start at $75-$150, when all you need is a phone call to Philadelphia. I did look at Incifile, but found them too expensive on the whole, and in the end I went with a Wyoming Legal Practice NOT the $150 deal, but a $199 ($224 with letter of good standing), after reviewing some "Trust" reviews on the $150 dudes. I ordered at 20:00 and had my LLC at 04:00, and they are really responsive on questions. So far so great. Sure you can pay $150-$1,000. Depends on Budget, but service-responsiveness is important to me. And yes I am going with Mercury too. Big PS. Missouri sounds like a great low-cost-efficient-option, but their is a small corp tax rate of 6%...is that ONLY for sales in Missouri, or all global sales.? Thanks Where are you from in the Mother Continent??
code API
BANNED - Failed to resolve a dispute
- Oct 20, 2018
- 6,377
- 3,517
I would, that's only for sales. Been 2 years since I filed the LLC now and I never had any problem with fee, sort of negligible as a Single-member LLC non-resident. Such fees are very infinitesimal. You won't go wrong.
And yes it's a tax haven for non-resident.
I like your setup too, by the way. You found a great deal for that package. Yes, you're right Incfile is a bit expensive but you won't go wrong either.
Proudly Nigerian. I would love to visit some other places in Africa like Seychelles and Mauritius.
DylanDog666
Junior Member
- Dec 18, 2021
- 123
- 54
OK LLP and LLC are the same thing aka Limited Liability Company Setup.
One Q: What are Pros of UK vs US?
Expecially New Mexico where you can hide owner names.
Interested in those.
KHer0
Elite Member
- Mar 22, 2011
- 2,465
- 2,981
Not the same, LLP passes the taxes to the partners, so, no taxes on it if you are non-uk resident.
As for new mexico, its basically useless, as if you create an anonymity company that doesn't show even your names in the records, how are you going to provd to any one later its your company.
Basically, you won't be able to open bank account nor deal with any respectable business.
As for new mexico, its basically useless, as if you create an anonymity company that doesn't show even your names in the records, how are you going to provd to any one later its your company.
Basically, you won't be able to open bank account nor deal with any respectable business.
DylanDog666
Junior Member
- Dec 18, 2021
- 123
- 54
Ok both are non taxable if you are non-resident. (Under some terms aka if you don't sell more than $$$ etc...)
You have papers aka proof of ownerships? No issue there as well. Only it's not public so no spam calls emails etc,
your company is for sure not anonymus under any terms.
KHer0
Elite Member
- Mar 22, 2011
- 2,465
- 2,981
I am not sure how this turned into you informing me.. I am not the one who asked a question here!
UK LLC : Taxable as company
UK LLP : Not Taxable as company but as owners, so not taxable for non-uk residents
New Mexico LLC : You can open it with any name, non of your info is registered in the records and there is no identity verification, so good luck getting any bank account, or business done with that.
Any other USA company : you have to file full finance records whether its taxable or not. So, good luck dealing with the IRS
UK LLC : Taxable as company
UK LLP : Not Taxable as company but as owners, so not taxable for non-uk residents
New Mexico LLC : You can open it with any name, non of your info is registered in the records and there is no identity verification, so good luck getting any bank account, or business done with that.
Any other USA company : you have to file full finance records whether its taxable or not. So, good luck dealing with the IRS