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Yeah, the franchise tax is going to depend on assets and total shares. So varies by company. You can reduce by only issuing something like 100 shares at first i
by jeffmould 10y ago
Yeah, the franchise tax is going to depend on assets and total shares. So varies by company. You can reduce by only issuing something like 100 shares at first if it is only you.
As for C-Corp, again IANAL or accountant, but I would never recommend a single founder go the C-Corp route. You are better off going as an LLC or taking the S-Corp election to take advantage of the tax benefits. Much simpler, and significantly cheaper, to do your annual returns.