Get a unique business name and address in your state. Get the formation document. Get a registered agent. Fill out and file the document.
Benefits of Forming an LLC
A limited liability company (LLC) protects your personal assets and maintains limited liability. Forming an LLC gives you flexibility to choose taxation and allows easy transfer of ownership. Use an online service and pay only mandatory state fees to form an LLC for free.
Costs and Misconceptions
The main LLC cost is the filing fee from forty to five hundred dollars depending on the state.
Tax and Ownership Considerations
LLC termination gain or loss is determined per member. Track your investment basis, adjusted annually per your K-1. Compare final distribution to basis to determine capital gain or loss.
Non U.S. individuals provide LLC information to get an EIN. Craft an operating agreement.
Questions about LLC
Can an LLC member be a w2 employee?