About LLC Licence

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KHR

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Hello BHW,

Hope all are well. I want to know about LLC Licence. Please Help me to know about it.

1. How to issue a LLC Licence ?
2. Non US can own it ? If, What is the Process & Cost ?
3. What will be the VAT/Tax if any one earn 10k a month?
4. Major Advantage ?
5. Disadvantage (if any ) ?


Thanks in Advice
 
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Bumping...

Any here to help me ?
 
If you mean registering a LLC in America, the price and sales tax laws will vary by state.

Foreigners can own one but they are going to need to hire a Registered Agent Service. If you use Legal Zoom I believe it will be a total of at least $433 to register and then at least $234 a year after that depending on the state you register it in.
If your averaging $10,000/month in profits, I believe it would be around $25,000 in taxes of it files as a C-corp and is located in a state with no corporate income tax.

I can't post links yet, so I'm not able to post the link to the calculator I used, just Google "corporate tax calculator usa".

You should look into Bulgaria as a place to register, its going to cost more to start up, but the tax rate is a flat 10% and there is no VAT for sales outside of the EU.
 
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I was wrong with the first estimate, I did some more research an average of $10k/month($120k a year) would actually be $30050 in taxes(assuming the amount is the profits after paying yourself) according to the tax bands in Publication 542 by the IRS. When it comes to paying yourself from an American LLC you have to do research on the W-8BEN and U.S. Withholding tax on paying Foreign Persons, to see if you will pay the full rate of 30%(if there is no tax treaty with the country you live in) or if there is a reduced rate or exemption.
 
I respectfully disagree with your assessment.
If you know what you are doing you can create an American LLC that can have members from foreign countries. Including individuals [foreign and domestic], corporations [foreign and domestic], and trusts [foreign and domestic]. You can divide the income distribution up in ways that there would be NO or extremely little tax on the income.
"When it comes to paying yourself from an American LLC you have to do research on the W-8BEN and U.S. Withholding tax on paying Foreign Persons" If you are a member of an LLC only your share of the income earned in the USA is taxable by the US government, which could be little or nothing depending on the members of the LLC [individuals, corporations and trusts] and which country they are domiciled in and subject to tax. So more investigation is required.
 
Can someone tell me what is the Tax per year if you have a LLC registered in Delaware?
 
Hope all are well. I want to know about LLC Licence. Please Help me to know about it.

1. How to issue a LLC Licence ?
You apply for it as a corporation. An LLC stands for Limited Liability Company similar to other entity structures like an S corp or C corp etc. It simply refers to how you file taxes and how you pay taxes and of course how the entity or company is structured.

2. Non US can own it ? If, What is the Process & Cost ?
Yes non-us can own it but you would still need some local address or simply you can have a 3rd party hold the company address ( very legal and many options )
3. What will be the VAT/Tax if any one earn 10k a month?
That depends on more than just earning 10k, with the right paper work in place you could technically not pay any taxes on that, especially if you are operating at a loss or breaking even.
4. Major Advantage ?
tax breaks and it saves you from being personally liable ( as long as its properly structured ). It is called the "corporate veil".
5. Disadvantage (if any ) ?You have a paper trail and if your not worried about that then there is not much of a disadvantage ( again if set up properly )

Feel free to PM or ask any questions about the "properly" parts.

Thanks in Advice[/QUOTE]
 
K.H.R said:
Hello BHW,

Hope all are well. I want to know about LLC Licence. Please Help me to know about it.

1. How to issue a LLC Licence ?
2. Non US can own it ? If, What is the Process & Cost ?
3. What will be the VAT/Tax if any one earn 10k a month?
4. Major Advantage ?
5. Disadvantage (if any ) ?


Thanks in Advice
Click to expand...

1. Pick a state where you want to form your LLC, and find a registered agent to do it for you.

2. Between government fees, registered agent fees and a US mailing addresses, be prepared to spend at least $800-1,000 USD per year. More if you want a US bank account. Foreign nationals and entities can own a US LLC, but typically can't own a S Corporation (popular LLC alternative).

3. Is that $10k in profit or revenue? Moreover, is that $10k earned inside or outside the US, and where do you need to move your earnings to? Also, keep in mind that both the federal government and most state governments tax LLCs, so your effective tax rate will vary depending on which state you form your LLC in.

4 & 5. Advantages and disadvantages really depends on why you're even setting up a US LLC: what kind of business are you, where do you do business, where are you located, what local laws are you subject to, and what are you looking to accomplish?
 
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1. Find a Delaware Registered Agent, costs $100 to 150 yearly.
2. Delaware LLC Registration package works out to around $300 if you do it paperless. With apostilled certs you can get it done for 450
3. You need an EIN to open a bank account and a merchant account, thats another $100 or so.
4. Shipit.to costs $50 a year for mail forwarding, plus actual postage.

Register your LLC as a disregarded entity so all taxes pass through to you. Pay your taxes for income from within the US with an ITIN or as a Non Resident Alien. No taxes on payments received/income from outside the US.

You have to visit a branch to open a bank account. Paypal will let you open a USA account and let you run it over 20k only if you have an SSN. I got mine fucked in 10 days as my volumes scared them and I don't have an SSN.

Federal taxes work out to about 15% yearly, DE state tax about 5% for all income within the US. You might need an auditor if your volumes are quite high, and those guys are fucking expensive in the US.

My recommendation? Start one only if you are from a fucked up third world country and surrounded by 97.6% retards, and plan to move to the US eventually to escape from them. Otherwise it isn't worth the money spent.
 
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Paranoid Android said:
1. Find a Delaware Registered Agent, costs $100 to 150 yearly.
2. Delaware LLC Registration package works out to around $300 if you do it paperless. With apostilled certs you can get it done for 450
3. You need an EIN to open a bank account and a merchant account, thats another $100 or so.
4. Shipit.to costs $50 a year for mail forwarding, plus actual postage.

Register your LLC as a disregarded entity so all taxes pass through to you. Pay your taxes for income from within the US with an ITIN or as a Non Resident Alien. No taxes on payments received/income from outside the US.

You have to visit a branch to open a bank account. Paypal will let you open a USA account and let you run it over 20k only if you have an SSN. I got mine fucked in 10 days as my volumes scared them and I don't have an SSN.

Federal taxes work out to about 15% yearly, DE state tax about 5% for all income within the US. You might need an auditor if your volumes are quite high, and those guys are fucking expensive in the US.

My recommendation? Start one only if you are from a fucked up third world country and surrounded by 97.6% retards, and plan to move to the US eventually to escape from them. Otherwise it isn't worth the money spent.
Click to expand...

Pretty solid advice. However, I have to say it's generally more cost effective to form a LLC in Wyoming or Nevada. Delaware is a very popular and well known destination for forming for profit entities, but it doesn't offer any significant advantages unless you're looking to setup a corporation that's able to leverage the Delaware Court of Chancery. Also, you don't necessarily have to visit a physical bank branch to setup an account: there are registered agents who can help you avoid this.
 
Someone estimated 30k taxes from 120k revenue in Delaware? That's 25% - is that a correct estimate?
 
bartosimpsonio said:
Someone estimated 30k taxes from 120k revenue in Delaware? That's 25% - is that a correct estimate?
Click to expand...

US LLCs are typically taxed as pass through entities (basically taxed like ordinary income), so at $120k net annually, we're looking at 25-28% for the federal government and another 6.5% for the state government. Though that 6.5% may vary depending on where the income is earned, and whether you're a Delaware resident or not. I don't use Delaware to form LLCs, so I can't really give you a definitive answer. Add 15.3% for self-employment tax if you're a member and manager of the LLC, but this does not apply if you're a member but not manager. If you're a non-resident foreign national or if the LLC is owned by another corporation/trust/etc., then this gets a lot more complicated.
 
K.H.R, you asked...

K.H.R said:
Hello BHW,

Hope all are well. I want to know about LLC Licence. Please Help me to know about it.
Click to expand...

(1). An LLC is not a license; it is a business entity
(2). Each state has different parameters in terms of taxes. Consequently, your question can only be answered by a LAWYER who specializes in LLCs
(3). If you are from a foreign country, forming your LLC in Delaware or Nevada will likely be your best option.

Why? In Delaware, you can easily find an Agent who is located in the state, which you will need. You can find the same in Nevada. What does that mean? It means, you can file your LLC with ease.

Start with LegaZoom to get the info you need. They have phone support.

Code: 
http://www.legalzoom.com/limited-liability-company/limited-liability-company-overview.html

Hope that helps.
 
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