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3. File your LLC in other states. When you first get an LLC in your home state, you establish what's known as a "state of formation" or "domestic state," which is essentially your business' home base.
A limited liability company (LLC) is the United States-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation . [ 1 ]
Though California does not have a state statute allowing formation of an LLLP, it does recognize LLLPs formed under the laws of another state. [6] While registering an LLLP formed in another state in California will trigger the same annual franchise tax applicable to entities formed California. [7]
The Uniform Limited Liability Company Act (ULLCA), which includes a 2006 revision called the Revised Uniform Limited Liability Company Act, is a uniform act (similar to a model statute), proposed by the National Conference of Commissioners on Uniform State Laws ("NCCUSL") for the governance of limited liability companies (often called LLCs) by U.S. states.
With one LLC as good as another for this purpose, there’s no reason to pay more than you need to. In any case, the cost of forming the LLC is tax-deductible, so it’s worth noting your expenses. 2.
Those add-on LLC required documents could include: Details on any business collateral : If you’re applying for a secured loan, you’ll need to provide documentation about the collateral you ...
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