For example, a member who contributes 50% of startup costs will be 50% ownership interest in the LLC. Some LLCs choose to give equal ownership to all members to keep it simple.

Self-employment tax savings A company that’s taxed as an S Corp pays self-employment taxes on a set salary but doesn’t pay them on any earnings that are above that. For example, if an owner’s salary ...

This means that as an LLC member, you will be subject to self-employment taxes. These taxes cover Social Security and Medicare contributions, and could result in a heavier tax burden compared to ...

You can form a South Dakota LLC online by registering the Articles of Organization with the Secretary of State. The cost of setting up an LLC in South Dakota is $150 online or $165 for paper filing.

Step 1: Create a Name for Your DC LLC Before you register your Washington D.C. LLC, you’ll need to come up with a name. Your business name needs to be catchy for branding purposes and legitimate for ...

If you are a single-member LLC with no employees and do not elect a corporation tax status, then you are not required to obtain an EIN. Your Social Security number is your federal tax identifier.

The state's LLC filing fees are just $35 if you are a single-member LLC and $70 if you are a single-member foreign LLC. Kentucky is the second cheapest state, with filing fees of $40.

The state's LLC filing fees are just $35 if you are a single-member LLC and $70 if you are a single-member foreign LLC. Kentucky is the second cheapest state, with filing fees of $40.

An LLC may be disregarded as an entity for tax purposes, or it may be taxed as a partnership or a corporation. Even if an LLC has no income, it may still be legally required to file taxes.

The first step in filing taxes for an LLC with no income is verifying your LLC's tax classification. By default, a single-member LLC is considered a disregarded entity, and an LLC with two or more ...

The first step in filing taxes for an LLC with no income is verifying your LLC's tax classification. By default, a single-member LLC is considered a disregarded entity, and an LLC with two or more ...