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The United States LLC is not a partnership or a corporation. It is a distinct business entity that offers an alternative to partnerships and corporations by combining the corporate advantages of limited liability with the partnership advantage of pass-through taxation. US LLCs with non-resident members and which conduct no business in the US and which have no US-source income are not subject to US federal income tax and are not required to file a US income tax return. US LLCs are popular vehicles for conducting international business.
Filing of Articles of Organisation or Certificate of Formation with the Secretary of State in the preferred state of formation.
English. If any other language is used it must be accompanied by a translation in English.
Yes. Must be maintained in state of incorporation/formation at the office of
a professional registered agent.
Yes, for recommended states.
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.
The name can be in any language. Some recommended states require an English
Limited Liability Company and Limited Company or their abbreviations LLC or
Generally 2 days, but must allow an additional 5 - 7 business days for
delivery of documentation.
US Limited Liability Companies structured for partnership tax treatment with
non-resident members and which conduct no business in the US and which have no
US-source income are not subject to US federal income tax and are not required
to file a US income tax return.However a FBAR form has to be filed each year where the bank account balance exceeds $10,000 at anytime. More information can be obtained from the IRS.gov website.
US limited liability companies that conduct no business in the recommended
states of formation with non-resident members are generally not subject to state
income tax and are not required to file a state income tax return.
Of the states recommended, there is either a minimum or a 'flat' annual
report or licence fee.
** The report is filed every two years. If an LLC is formed prior to June 16
in any given year, it's first Two-Year Report is due June 16 that same year.
It's next Two-Year Report will not be due for another 2 years. If an LLC is
formed after June 16 in a given year, its first Two-Year Report will be due June
16 the following year. Again, its next Two-Year Report will not be due for
another 2 years.
There is generally no requirement to file financial statements with the state
of formation unless the corporation owns assets within that state or has
conducted business within that state.
US LLC Fact Sheet
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