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I am replying to this because it is a question I have as well. Stripe employees - I know the Atlas page discusses the reasoning behind a C corp a bit, but I thi
by sjroot 9y ago
I am replying to this because it is a question I have as well. Stripe employees - I know the Atlas page discusses the reasoning behind a C corp a bit, but I think it would be beneficial to elaborate on why it is preferable over an LLC. It’s also worth noting that the Atlas website mentions support for LLCs and other business types later down the line. Any timeline on this?
As I imagine the OP of this comment is, I am a US citizen who was primarily interested in Atlas because it seems like the most painless solution.
- jonstewart 9y agoI highly recommend a pass-through LLC. I went C-corp with my company and I just ended up getting double-taxed over its lifetime. If you need to convert, it's easy: 1) start a C-corp; 2) acquire LLC with C-corp; 3) there is no step 3. Moreoever, if you need to convert, it's probably because you have a good reason and it's essentially a fixed-price amount (should be < $10K, probably < $5K).
- patio11 9y agoI work on Stripe Atlas. Prior to that, I ran a few software businesses, all as LLCs. A rule I had in my business was “Don’t talk about timelines until you’re ready to ship, because they only slip, and then people are sad.” I broke the rule several times, and regretted it every time. Stripe has the same rule, but is disciplined about keeping it. I have a lot of thoughts on the C corporation vs LLC tradeoffs and while I’d love to put them in an HN comment my top task this week is putting them in a more permanent location.