What’s Included with this Option? * Trade Name Registration (Also known as DBA or Fictitious Commercial Name) * Federal Tax ID Number NOTE: Sole-Proprietors are not companies and as such, they are not considered a separate entity from the owner. Therefore, all business activity is reported and taxes on profits are paid on the personal tax return of the owner.
What’s Included with this Option? * Articles of Organization (Legal Document of Formation) * Federal Tax ID Number Note: If an LLC is owned by one person only, it is considered a Sole-Proprietor for tax purposes by the IRS and all business activity should be reported on the personal tax return of the single owner. If the LLC is owned by 2 or more partners, then it will be initially classified as a Partnership by the IRS. If you will be the sole-owner of the LLC and would like to file a separate business return, you should also consider selecting S-Corp Status below.
What’s Included with this Option? * Articles of Incorporation (Legal Document of Formation) * Federal Tax ID Number NOTE: Corporations are initially established as C-Corporation, which usually leads to paying double tax on company profits distributed as dividends to corporate officers. In order to avoid this, you should consider selecting the S-Corp Status below.
*Notes: 1) S-Corp Status: Offers Tax Saving Opportunities (Read More) 2) Payroll Tax Accounts (Recommended if you will hire employees) 3) Corporate Kit: Includes Shares of stock and Corporate Seal (See Sample) 4) Operating Agreement: Internal document for LLC’s Only (What’s this?)