LLC Information
» Procedure to form
Filing of Articles of Organisation or Certificate of Formation with the Secretary of State in the preferred state of formation.
» Language of Legalisation 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
Yes, for recommended states.
» Name Restrictions
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.
» Suffixes to Denote Corporation
Limited Liability Company and Limited Company or their abbreviations LLC or LC
» Time to Incorporate/Form
Generally 2 days, but must allow an additional 5 - 7 business days for delivery of documentation.
Compliance
» US Federal Taxation
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.
» State Taxation
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.
» Annual Report/Licence Fees
Of the states recommended, there is either a minimum or a 'flat' annual report or licence fee.
 |
|
|
|
| Delaware |
US$220 |
June 1 |
|
| Wyoming |
US$65 |
Anniversary |
|
| Oregon |
US$65 |
Anniversary |
|
| New Jersey |
US$65 |
Anniversary |
|
| New York |
No fee |
N/A |
|
| Florida |
US$65 |
May 1 |
|
| Washington DC |
US$180 |
** |
|
| Arkansas |
US$175 |
May 1 |
** 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.
» Financial Statements
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.
» Directors/Managers
Normally one.
» Shareholders/Members
Normally one.
Disclaimer
Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal or other professional advice. OCRA Worldwide does not accept any responsibility, legal or otherwise, for any errors or omission.
