Regarding the Federal taxes: if you are US citizen or US resident (US taxpayer) and you file taxes in the US, a LLC is treated as a partnership and is not subject to corporate income tax.
Any profits or losses are passed through to the members of the LLC to report on their personal income tax.
Therefore, The LLC DOES NOT PAY ANY INCOME TAXES!
DELAWARE COMPANY FORMATION
Procedure to form :
Language of legalization and corporate documents
English. If any other language is used it must be accompanied by a translation in English.
Registered office required
Yes. Must be maintained in state of incorporation/formation at the office of a professional registered agent.
Shelf companies available :
Time to incorporate/form
Generally 2 days, but must allow an additional 5 – 7 business days for delivery of documentation.
Anything identical or similar to an existing company within the state of incorporation. Additionally, the use of bank or trust within the name of the corporation is prohibited in all 50 states without first obtaining consent from the banking authorities in the state of incorporation.
Anything identical or similar to an existing company within the state of formation. Additionally, the use of bank, trust, insurance or reinsurance within the name of the LLC is generally prohibited in all 50 states. This is because limited liability companies in most states are simply not allowed to engage in a banking or insurance business.
Language of name
The name can be in any language. Some recommended states require an English translation.
STRUCTURE OF MANAGEMENT
The minimum number of directors is one, who must be a natural person. Directors may be of any nationality and need not be a citizen of the United States.
One manager either a natural person or a body corporate of any nationality.
The minimum number of shareholders is one. A shareholder of a US Corporation may be another corporation (even an international or “offshore” corporation).
The minimum number of members is two. This number (or greater) ensures automatic tax classification as a partnership, the advantages to which are described above under “Taxation”.
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