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Old 12-04-2003, 05:10 AM
Paul A Thomas
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Default Re: Best Structure for a LLC?

"tekwoman" <tekwoman[at]yahoo.com> wrote

- quote -

> I need HELP from someone who knows what they are doing!!! My
> husband and I formed an LLC company in Nevada last
> Febuary(2002)and we also were required to file/register with
> the state of Az as a foreign corp since that is where we are
> actually operating from.


You most likely have to file and PAY registration fees in
both states.

- quote -

> Does the registered agent of our company have to be a
> commercial business that specializes in being a resident
> agent or can anyone that resides in Nevada act as our agent?


Probably anyone with a valid street address. To be sure,
you'll need to contact the corporations division of the
Nevada government.

- quote -

> When we initially filed incorporation papers with Nevada
> they were filed as a Single member LLC. The EIN that was
> issued by the IRS says "Single Member" on the coupon
> booklet, however the application for the EIN stated
> Disregard Entity: "Pass-Through LLC". What does this really
> mean?


What that really, really means is, you or your husband are
self-employed and you or your husband files a Federal
Schedule C with your individual Form 1040.

- quote -

> Do we need to file the 941 form(s) that are being sent
> in the mail? We do not have any employees or other members?


You would only do this if the other spouse is an employee of
the business.

- quote -

> Is the Phrase "Single Member" a Structure of the LLC? -
> Should we have not filed for an EIN as a "Single Member" or
> not at all? - Is it better to be structured as a Partnership
> or is there another Entity that we are overlooking? What are
> the procedures to change/Amend our current structure now?
> As you can see, I am really confused on all of this and any
> help offered would really be appreciated, Thanks to All!


Your best bet is to find a local CPA or EA familiar with
entity choices and get all your facts straight (tax, legal,
costs, etc) and then decide what it is you want to do.

--
Paul A. Thomas, CPA
Athens, Georgia
taxman at negia.net

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  #-1  
Old 12-02-2003, 10:27 PM
tekwoman
Guest
 
Posts: n/a
Default Best Structure for a LLC?

I need HELP from someone who knows what they are doing!!! My
husband and I formed an LLC company in Nevada last
Febuary(2002)and we also were required to file/register with
the state of Az as a foreign corp since that is where we are
actually operating from.

Does the registered agent of our company have to be a
commercial business that specializes in being a resident
agent or can anyone that resides in Nevada act as our agent?

When we initially filed incorporation papers with Nevada
they were filed as a Single member LLC. The EIN that was
issued by the IRS says "Single Member" on the coupon
booklet, however the application for the EIN stated
Disregard Entity: "Pass-Through LLC". What does this really
mean? Do we need to file the 941 form(s) that are being sent
in the mail? We do not have any employees or other members?

Is the Phrase "Single Member" a Structure of the LLC? -
Should we have not filed for an EIN as a "Single Member" or
not at all? - Is it better to be structured as a Partnership
or is there another Entity that we are overlooking? What are
the procedures to change/Amend our current structure now?

As you can see, I am really confused on all of this and any
help offered would really be appreciated, Thanks to All!

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
 

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