Ben140Wade

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So far Ben140Wade has created 7 blog entries.

Annual Report

What is an Annual Report? An annual report is filed once a year with the secretary of state and has the role of keeping your business up to date in state records and communicate any changes that might arise. Failing to file such a report can result in fines, penalties and, depending on the [...]

By | 2019-02-19T11:14:42+00:00 June 20th, 2016|Limited Liability Comapny|Comments Off on Annual Report

Does an LLC Need an EIN

As individuals use their Social Security numbers for personal tax purposes, business entities must generally use a federal tax ID number, also known as an employee identification number (EIN). There are a few situations in which you need to obtain an EIN for your business, even if you have an LLC. Single Member LLCs This [...]

By | 2019-02-19T11:14:43+00:00 June 20th, 2016|Limited Liability Comapny|Comments Off on Does an LLC Need an EIN

Obtain a Tax ID Number for an LLC

Filing for registration is not enough when making the first steps in business. Even with a simple business entity as LLC. You also need to make sure you understand and you are in compliance with state and federal tax laws. Do I Need a Tax Number for LLC? The EIN is used to identify your [...]

By | 2019-02-19T11:14:43+00:00 June 20th, 2016|Limited Liability Comapny|Comments Off on Obtain a Tax ID Number for an LLC

Foreign Limited Liability Company

When thinking about the notion of foreign limited liability company, many people jump to the obvious conclusion of a company created outside U.S. since this is what usually “foreign” means. But in this case, things are a little bit different. Logically speaking, if a company would be created outside U.S., we would not be calling [...]

By | 2019-02-19T11:14:44+00:00 June 20th, 2016|Limited Liability Comapny|Comments Off on Foreign Limited Liability Company

LLC vs. Corporation – Which One is Right for Me?

One of the very first steps in starting a business is to form a business entity. But with more than one option of business entities to choose from, this is sometimes one of the most difficult steps. Should you choose a LLC or a corporation? Which one is better suited for you and your [...]

By | 2019-02-19T11:14:44+00:00 June 20th, 2016|Limited Liability Comapny|Comments Off on LLC vs. Corporation – Which One is Right for Me?

How Are Profits Split in an LLC?

A LLC (Limited Liability Company) is usually chosen of a form of association for business activities because of three main advantages: it is relatively easy to create a LLC, it involves limited liability protection to the LLC members and it offers a flexible LLC profit distribution. While the last is less known, it is an important advantage for any [...]

By | 2019-02-19T11:14:44+00:00 June 20th, 2016|Limited Liability Comapny|Comments Off on How Are Profits Split in an LLC?

Can I Have More Than One LLC?

More flexible than corporations, with fewer recordkeeping requirements and limited personal liability for their owners, limited liability companies are one of the options you can choose from when creating your business. But can you create more than one LLC and what does that require? Although it is actually quite frequent for a sole owner [...]

By | 2019-02-19T11:14:44+00:00 June 20th, 2016|Limited Liability Comapny|Comments Off on Can I Have More Than One LLC?