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Ohio LLC’s are a powerful vehicle. Pay $99 once and never pay again. Plus Ohio is super business friendly (red state). I use a registered agent that files on
by godzillabrennus 6y ago
Ohio LLC’s are a powerful vehicle. Pay $99 once and never pay again.
Plus Ohio is super business friendly (red state).
I use a registered agent that files on my behalf so it’s $250 all in to get it done.
If you know your idea will take a few years to manifest into revenue and you want to shelter the IP somewhere an Ohio LLC is the place to do it IMHO (not legal advice).
- exclusiv 6y agoThat's way better than most states. New Mexico is probably the best though - anonymous LLCs. $50
- csomar 6y agoYou don't need to file yearly taxes? I thought this is linked to the IRS rather than Ohio. Also, apart from the franchise fee, there doesn't seem to be anything else for the Delaware C-Corp.
- stateofnounion 6y agoAn LLC is a pass-through tax entity. All the gains and losses are reported by the owners in their personal returns. https://www.nolo.com/legal-encyclopedia/how-llcs-are-taxed-29675.html https://www.nolo.com/legal-encyclopedia/how-llcs-are-taxed-2...
- quercusa 6y agoYour state may still require you to file a 'corporate' return for your LLC. In my state you wouldn't pay anything if your receipts were under some level, maybe $100K. But if you didn't know you were supposed to file, they'll come looking for you after a few years.
- d0gbread 6y agoHow your membership is organized in an LLC matters too. I assumed pass through, no revenue no taxes no filing, but apparently in my state a two member LLC is a partnership for tax purposes and requires filing.
- csomar 6y agoOkay, I think I have been understanding LLC wrong this whole time. I thought they are the equivalent of SARL in France.