If elected to be taxed as being a partnership or Company, there'll possible be supplemental taxes to pay attention to. Fifteen states have franchise taxes that impact LLC homeowners. In case you are looking for more liability protection than a sole proprietorship can give but are not prepared

Several states levy a "franchise tax" on LLCs, that's both a flat-amount annual fee, or a share of your LLCs annual earnings. As soon as you Obtain your business license, you will need to open up lender accounts for your personal business. "Possessing a separate account for you

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