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What about a California C Corp LLC in Delaware?
by pandasun 9y ago
What about a California C Corp LLC in Delaware?
- JumpCrisscross 9y ago> California C Corp LLC in Delaware I don’t understand. “C Corp LLC” doesn’t make sense; you can’t be both.
- zrail 9y agoSure can. An LLC can elect to be treated as a C corporation for tax purposes with a very simple IRS form.
- JumpCrisscross 9y ago> An LLC can elect to be treated as a C corporation for tax purposes Still an LLC. We’re talking about entity formation and comparing jurisdictions; being legally precise becomes important in this context. Disclaimer: I am not a lawyer. This is not legal advice.
- gamblor956 9y agoStill an LLC. We’re talking about entity formation and comparing jurisdictions; being legally precise becomes important in this context. Right. It's still an LLC, for specific state legal purposes. And it's generally a C-corporation for tax purposes, federal and international law.
- JumpCrisscross 9y ago> it's generally a C-corporation for tax purposes, federal and international law A single-member LLC electing to be taxed as a corporation will still be sued as an LLC (i.e. it can be pierced more like an LLC and less like a corporation), dissolved and maintained as an LLC and enter into contracts, open bank and brokerage accounts as an LLC, and have the same difficulties raising outside capital as an LLC. Disclaimer: I am not a lawyer. This is not legal advice.