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A comment on Form a California LLC in 10 minutes for $70. Parent comment

Re:Form a California LLC in 10 minutes for $70 by aphextron on Tuesday April 10, 2018 @05:45PM (#16805786)
>Are you contrasting an LLC versus a C Corp, or a Delaware LLC with a California LLC?

A Delaware C corp vs. a California LLC

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Re:Form a California LLC in 10 minutes for $70 by JumpCrisscross on Tuesday April 10, 2018 @05:47PM (#16805819)
See http://www.calstartuplawfirm.com/business-lawyer-blog/califo....

TL; DR If you’re raising outside financing, Delaware. Otherwise, California is probably fine. (Assuming you have a nexus in California.)

Disclaimer: I am not a lawyer. This is not legal advice. Don’t make these decisions without a lawyer.

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Re:Form a California LLC in 10 minutes for $70 by pandasun on Tuesday April 10, 2018 @05:51PM (#16805868)
What about a California C Corp LLC in Delaware?
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Re:Form a California LLC in 10 minutes for $70 by JumpCrisscross on Tuesday April 10, 2018 @06:01PM (#16805941)
> California C Corp LLC in Delaware

I don’t understand. “C Corp LLC” doesn’t make sense; you can’t be both.

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Re:Form a California LLC in 10 minutes for $70 by zrail on Tuesday April 10, 2018 @06:15PM (#16806042)
Sure can. An LLC can elect to be treated as a C corporation for tax purposes with a very simple IRS form.
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Re:Form a California LLC in 10 minutes for $70 by JumpCrisscross on Tuesday April 10, 2018 @06:18PM (#16806068)
> An LLC can elect to be treated as a C corporation for tax purposes

Still an LLC. We’re talking about entity formation and comparing jurisdictions; being legally precise becomes important in this context.

Disclaimer: I am not a lawyer. This is not legal advice.

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Re:Form a California LLC in 10 minutes for $70 by gamblor956 on Tuesday April 10, 2018 @06:52PM (#16806358)
Still an LLC. We’re talking about entity formation and comparing jurisdictions; being legally precise becomes important in this context.

Right. It's still an LLC, for specific state legal purposes. And it's generally a C-corporation for tax purposes, federal and international law.

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Re:Form a California LLC in 10 minutes for $70 by JumpCrisscross on Tuesday April 10, 2018 @07:04PM (#16806436)
> it's generally a C-corporation for tax purposes, federal and international law

A single-member LLC electing to be taxed as a corporation will still be sued as an LLC (i.e. it can be pierced more like an LLC and less like a corporation), dissolved and maintained as an LLC and enter into contracts, open bank and brokerage accounts as an LLC, and have the same difficulties raising outside capital as an LLC.

Disclaimer: I am not a lawyer. This is not legal advice.

[ Parent | on HN ]