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INCORPORATION and TAX ENTITY for online venture ?!?!?!?

by marcocalamassi
4 replies
Hello guys,

Its Marco, I live in the US.
My partner is italian.

We are starting a venture and developing a network of websites.

We are in the process of opening AdSense, Mgid, Taboola etc etc publisher accounts.



We'd like to incorporate a company, open the business bank account and move from there....



I live in Florida so the easiest will be a Florida LLC with EIN and then a business bank account.



Taxes are around 30%.



What about Delaware incorporation ?
Or maybe Malta ?

Any company that can help us in finding the best solution ?


Regards
#entity #incorporation #online #tax #venture
  • Profile picture of the author irawr
    Banned
    LLC -> Elect S, pay yourselves reasonable salary. Salary is cost. The LLC may not make a profit but you get your salary. That's what I did and my company does not look like it will turn a profit this year, the jerk bag CEO was demanding a raise, awful news for the company.

    Edit: Also make sure any money you invest in your company is properly accounted for as a liability, so you can avoid the personal income tax on it when/if the company returns your investment to you (with or without interest.) Ideally you would not invest anything and just get a working capital loan from a bank, good luck with that though. If you have great credit you might be able to get a 25-50k loan.
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  • Profile picture of the author marcocalamassi
    oh thats a great tip, i wasnt aware of it. Thanks !!!!


    Now i just need to decide if Florida LLC (my state) or Delaware LLC (i'll need an attorney or an advisor for address purposes I guess) ??
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    • Profile picture of the author irawr
      Banned
      Originally Posted by marcocalamassi View Post

      oh thats a great tip, i wasnt aware of it. Thanks !!!!


      Now i just need to decide if Florida LLC (my state) or Delaware LLC (i'll need an attorney or an advisor for address purposes I guess) ??
      You can do it through legalzoom.com, then you elect the llc type the first time you file taxes. As soon as you get your tax ID in the mail you can go open a checking account. Pro tip: register the company to a PO Box, in case you want to do email marketing you can use the companies address. But I'm not sure how you do that in a state you're not currently in.

      Edit: also either way, you can just move the company if you want.
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  • Profile picture of the author DIABL0
    You can also check out Wyoming. No state income tax, low fee's, privacy options

    If you do Florida, you can do it online yourself for $125 and EIN is free from irs. I would just do Florida, if you don't care about privacy.

    https://efile.sunbiz.org/llc_file.html
    https://www.irs.gov/Businesses/Small...r-(EIN)-Online
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