Anyone With Experience Opening A Llc Or A Corp In Us?

[Inferno.]

I know this may be a weird request, but anyone here had any sort of experience opening a business in the US? I'm researching about the possibility of receiving payment as a company instead of being directly hired by one as a regular job (like being monotributista here in argentina). I'm trying to see if I can get any sort of real experience from someone here because the steps are not quite clear and everyone says a different thing. I do know that I don't need to be a US Citizen for this, any non resident alien can do it so we are good there.

Is a long shot of a possibility that I may have (if I'm really lucky).. but I'm going to need this up and working if I want to have a real chance. Mostly I want to see if I'm waaaaay over my head on the subject or if I can achieve it if I put a lot of me into this.

Thanks

 

[AmigoArtistico]

I had a Massachusetts corporation. It was easy to set up.

I don't know how you'd do it as a non-US resident, but having already set up a US corporation, I imagine that it is also not very difficult. (There may be some new rules in the past 10 years dealing with the IRS and Homeland Security, but that's probably not a big problem, either.)

There used to be a lot of websites to help people set up US corporations; some for a small fee, and other sites that were just informational. I doubt that that has changed. (I just did a google search with this search string "set up a us corporation from another country" and got 264 million results.)

Anyway, setting it up is easy, but you may want to use a service, because US corporations have to follow a lot of rules, and you may be required to periodically file certain forms, especially since you say want to do this to pay yourself from your company. You may also be subject to certain US taxes. (Once you understand the whole process, you could drop the service, although if you're earning enough, it's probably worth having.)

 

[Jaredberryman]

I know this may be a weird request, but anyone here had any sort of experience opening a business in the US? I'm researching about the possibility of receiving payment as a company instead of being directly hired by one as a regular job (like being monotributista here in argentina). I'm trying to see if I can get any sort of real experience from someone here because the steps are not quite clear and everyone says a different thing. I do know that I don't need to be a US Citizen for this, any non resident alien can do it so we are good there.

Is a long shot of a possibility that I may have (if I'm really lucky).. but I'm going to need this up and working if I want to have a real chance. Mostly I want to see if I'm waaaaay over my head on the subject or if I can achieve it if I put a lot of me into this.

Thanks

If you are not a U.S. Citizen with a social security number (you didn't mention you are), the fist step will be to obtain an ITIN tax number, and then you will have to go personally to open a bank account in the U.S. I would like to know more about this too.

 

[Inferno.]

I had a Massachusetts corporation. It was easy to set up.

I don't know how you'd do it as a non-US resident, but having already set up a US corporation, I imagine that it is also not very difficult. (There may be some new rules in the past 10 years dealing with the IRS and Homeland Security, but that's probably not a big problem, either.)

There used to be a lot of websites to help people set up US corporations; some for a small fee, and other sites that were just informational. I doubt that that has changed. (I just did a google search with this search string "set up a us corporation from another country" and got 264 million results.)

Anyway, setting it up is easy, but you may want to use a service, because US corporations have to follow a lot of rules, and you may be required to periodically file certain forms, especially since you say want to do this to pay yourself from your company. You may also be subject to certain US taxes. (Once you understand the whole process, you could drop the service, although if you're earning enough, it's probably worth having.)

Yes, I found a lot of sites too, but I'm still doing research on this subject (I actually came up with the idea yesterday so everything is really green). I will check this weekend to see if I can trust in them or I find an accounting guy there working freelance. Most of those companies are located in miami and a few ones sound like a scam. I don't care if I have to pay a low monthly fee at the beginning, but I like that you are telling me it's not that hard. Perhaps there is a way for me to do this.

If you are not a U.S. Citizen with a social security number (you didn't mention you are), the fist step will be to obtain an ITIN tax number, and then you will have to go personally to open a bank account in the U.S. I would like to know more about this too.

I believe what's most important here is the EIN cause the ITIN is for an individual. I already have a bank account at my name, but I believe I also need one for the company (but I need to have it first). I'm going to the US in a few weeks, so I may be using that time to setup everything and meeting with the company that wanted to hire me. But again.. everything is green so I'm mostly doing a broad search at the moment.

Thanks both for your answers!

 

[MikeB12]

Most likely you'll need a registered agent if you don't have residence in the state you open your llc in. I have one in Wyoming, and use these guys - http://wyomingregisteredagent.com . I am a us citizen though.

Why not open up an account in Panama, Belieze, or the US Virgin islands?

 

[Jaredberryman]

Yes, I found a lot of sites too, but I'm still doing research on this subject (I actually came up with the idea yesterday so everything is really green). I will check this weekend to see if I can trust in them or I find an accounting guy there working freelance. Most of those companies are located in miami and a few ones sound like a scam. I don't care if I have to pay a low monthly fee at the beginning, but I like that you are telling me it's not that hard. Perhaps there is a way for me to do this.




I believe what's most important here is the EIN cause the ITIN is for an individual. I already have a bank account at my name, but I believe I also need one for the company (but I need to have it first). I'm going to the US in a few weeks, so I may be using that time to setup everything and meeting with the company that wanted to hire me. But again.. everything is green so I'm mostly doing a broad search at the moment.

Thanks both for your answers!

My guess, and don't quote me on this, is that you will still need the ITIN, because LLCs can be taxed straight through without having to pay yourself out of your corporation (which is why they are so popular right now). LLCs are really for small business owners, . You might also want to consider being a consultant, which will then let you charge without setting up an LLC (although us U.S. Citizens have to pay extra taxes that employees do not when we do that). I imagine that you can find answers to all your questions online, and that paying a professional is probably not necessary. Setting up an LLC is generally not that complex.

 

[Sleuth]

Actually it's pretty easy.

- You decide the corporate structure that you need. For one person, LLC and S Corporation are the most popular.
- You decide the state you want to incorporate in. This varies based on benefits and costs. Many corporations form in Delaware due to very corporate friendly state laws.
- You will need a registered agent in the state - someone who can receive communications for your firm.
- You form the corporation or LLC through an attorney or online service like LegalZoom or BizFilings and pay the fees. Usually this involves also getting a federal tax id number for the business (EIN).
- Once the paperwork comes in, you open a bank account.

That's a basic overview. Note that you will have to pay at least an annual state filing fee as well as a tax return (federal and maybe state). If you have a one-person LLC, you can file on your personal return.

 

[NYKate]

Actually it's pretty easy.

- You decide the corporate structure that you need. For one person, LLC and S Corporation are the most popular.
- You decide the state you want to incorporate in. This varies based on benefits and costs. Many corporations form in Delaware due to very corporate friendly state laws.
- You will need a registered agent in the state - someone who can receive communications for your firm.
- You form the corporation or LLC through an attorney or online service like LegalZoom or BizFilings and pay the fees. Usually this involves also getting a federal tax id number for the business (EIN).
- Once the paperwork comes in, you open a bank account.

That's a basic overview. Note that you will have to pay at least an annual state filing fee as well as a tax return (federal and maybe state). If you have a one-person LLC, you can file on your personal return.

Dave is right as usual!
(I used to do this as Corporate Secretary for a large financial firm in the US for 10 years.) One place to start is to look at the Delaware Secretary of States website. It really is the easiest state to file in and you will only have to file an annual renewal report. You will also be required to have a US address. This can be done by hiring a company, like Corporation Service Company, to be your address and take care of annual renewals if need be.
Here are two sites to check out for more info:

http://corp.delaware.gov/
https://www.cscglobal.com/global/web/csc/home

 

[Inferno.]

Thanks everyone! I love this site. I usually read several forums and this is probably the only place that everyone is truly friendly

I'm glad I found this place.

 

[EricLovesBA]

Would said business be subject to state taxes as well? I.e., would there be any advantage to opening in one of the states with no state income tax such as Texas?