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You 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 anythin
by csomar 6y ago
You 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.