Forming an entity

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imca

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Nov 29, 2006
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New York
www.pasigwin.com
Has anyone set up an LLC for their online revenue? I want to set one up, but want to do it through someone that knows a lot of the online aspects to accounting etc.

I live in NYC, but heard Delaware is the place to do it. If you have a guy that fits the bill, please PM me. Also though any tips on this subject should be posted for us all as this aspect can make a big difference in your paycheck at the end of the year.
 


A lot of startup companies create Delaware C Corporations, which isn't a LLC. I looked into starting a Delaware C Corp awhile back, and if I remember correctly, the taxes there are fairly low and the company doesn't have to be located in Delaware. I think you will need an agent or something in Delaware, but there are companies there that can act as your agent.

I don't know what the benefits are for setting up Delaware LLCs.
 
It doesn't matter where the F you live in DE taxes are low... you pay taxes for your home state. Also, you don't need a DE C-CORP unless you are going to be huge. Usually an LLC taxed as an S-CORP is the way to go to deduct your pay and not pay the SE tax, a loophole which may be closed soon.

Look through the yellowpages for incorportation attorneys that offer a free 30 min consult, bring some q's then do it via legalzoom.
 
engaged said:
It doesn't matter where the F you live in DE taxes are low... you pay taxes for your home state. Also, you don't need a DE C-CORP unless you are going to be huge. Usually an LLC taxed as an S-CORP is the way to go to deduct your pay and not pay the SE tax, a loophole which may be closed soon.

Look through the yellowpages for incorportation attorneys that offer a free 30 min consult, bring some q's then do it via legalzoom.
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thanks. i called an attorney and legalzoom. legalzoom was actually pretty good. they knew all the answers and didn't hassle me to signup right away. it looks like a delaware llc is the way i'm going.
 
imca said:
thanks. i called an attorney and legalzoom. legalzoom was actually pretty good. they knew all the answers and didn't hassle me to signup right away. it looks like a delaware llc is the way i'm going.
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are you kidding me? there is no point for you to get a DE one... just get it in NY. no matter what you are going to pay NY fees along with pain in the ass of filing for foreign corp and possibly more $.
 
Oregon rocks, no sales tax. They once tried to get us to do a sales tax based upon where the buyer lives but it didn't pass. I don't know about any other perks though.
 
engaged said:
are you kidding me? there is no point for you to get a DE one... just get it in NY. no matter what you are going to pay NY fees along with pain in the ass of filing for foreign corp and possibly more $.
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exactly

getting one in DE just because you heard its "the place to do it" is stupid.

get one in your own state, its less of a hassle.
 
imca said:
thanks. i called an attorney and legalzoom. legalzoom was actually pretty good. they knew all the answers and didn't hassle me to signup right away. it looks like a delaware llc is the way i'm going.
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Haha...

Have any of you actually incorporated via legalzoom?
 
if you have time you can save money and do it all yourself - it gets a little confusing finding the forms and setting things straight, but I didn't have the cash to waste to get someone to do it for me.

I'm registered in NY - as they said no reason to do anything else unless you are huge.
 
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