Beneficial Ownership Information (BOI) LLC Requirements 2024
The Corporate Transparency Act (CTA) of 2024 has introduced new rules that require entities, including LLCs, to report Beneficial Ownership Information (BOI). Effective from January 1, 2024, this legislation represents a significant stride toward promoting transparent and responsible business practices. Key Summary BOI reporting for LLCs emphasizes transparency and accountability in business. It affects both […]
How To Start A Business In USA For Non Citizens? Easy Way
Key Summary As a non-citizen, you are able to start a business or subsidiary arm of an overseas business in the USA without a visa. Consider the state you intend to start your business in, popular choices include Delaware and Nevada. You will need to obtain a TIN to start a business in the US. […]
A-Z Guide For Company Registration In USA For Non-Residents
Congratulations! You’ve begun the process of starting a company in the USA. At this point, it’s likely that you have created a name and business plan. You’ve probably even chosen a business structure. So now, it’s time to register your company. 1. Legal and Tax Considerations Business and tax go hand-in-hand. To ensure a smooth […]
What are the LLC Tax Benefits? Startup Tax Guide (2024)
Key Summary LLCs offer tax flexibility, including pass-through taxation to avoid double taxation and various deductible business expenses. Generally lower startup costs compared to corporations. Typically a nontaxable event with continued pass-through taxation. LLC Tax Benefits The tax benefits of an LLC (Limited Liability Company) include tax flexibility, pass-through taxation, and the ability to choose […]
How much does it cost to start an LLC in 2024?
Key Summary LLC formation costs, including filing and recurring fees, vary by state. Several states impose extra fees such as franchise taxes. States like Alabama, Georgia, and Tennessee impose a business privilege tax on LLCs. This tax is on the privilege of doing business in that state. LLCs are subject to state income tax in […]
How to Start a Business in the USA? (2024) 10 Step Guide
Key Summary It is important that you begin with market research and create a detailed plan. Register your business name and ensure it is not covered by any trademarks. Hire a registered agent to help you with registering your business. Consider the location you want to register your business in to ensure maximum benefit to […]
How to Register a Business in the USA (2024 Guide)
Key Summary To register a business in the USA, you will need to prepare for tax obligations, registering with the relevant state agencies and obtaining an EIN. States that offer the best place to register a new business include Delaware, Indiana, and Wyoming. States that are better avoided for setting up a new business include […]
Why Companies Incorporate in Delaware: The Advantages and Disadvantages
Key Summary Delaware has a vast body of corporate law precedents. This makes its legal outcomes predictable and favored. The state offers privacy protections for business owners. Many other states do not have these protections. There are significant tax advantages and flexible business structures. Delaware offers many tax and legal benefits. However, the state also […]
