Starting a Company

[Krikit 1,164]

Moving from AOS to the Working & Traveling forum.

[Old Dominion 26]

Forming the LLC can be done immediately, and it can start receiving income. In many cases, for tax reasons, the owner is not paid a salary at all. The owner takes a share of the profits from time to time, and of course keeps careful records for tax purposes.

Once forming the LLC, you or your attorney can get a Federal EIN identification by telephone. That about wraps it up.

[cbridges 0]

I have recently file LLC and here were the first steps that I took... Even before EAD you can begin this process since the LLC will pay taxes independently from the owner...

First I researched with my state to be sure the name I was going to use was not in use

Next, In some states you have to register the name (ficticious name) in others it is done automatically when you file your Articles of Organization

Then I wrote my articles of Organization (there are several samples available) and this contains the addresses, structure and responsible parties etc...

Once they were done, I filed this with the Secretary of State

When the LLC was established, I got my local and county business licences, opened my business bank account, line of credit etc....

Then I did my advertising... If you use LLC in the name, you do not have to normally register a ficticious name, if not, then depending on your state you have to register...

So bottom line, you have a lot of things you can start doing and you do not have to have your EAD... this is from a law site regarding the question....

Yes, it is possible to start an LLC without any American citizens or residents. There is no requirement under the state laws governing the formation of LLCs that would prevent it. In fact, I have set up several LLCs with no US citizens or residents.

You ask are there any complications with running the LLC without a resident? The answer is that there may be. For example, the U.S. tax rules that apply to ownership and dispositions of U.S. real estate by foreign persons are different in some important respects from the rules that apply to U.S. persons. Depending upon how the LLC is structured, the ownership of the LLC may affect the tax treatment of the LLC and its members.

Also, although the citizenship and residency status of the owners doesn't directly affect the LLC formation, the ownership of an interest in the LLC may impact the owners if their activities with respect to the management and operation of the LLC (as opposed to simply the ownership of the LLC) violate their visa status.

Best of luck!!!

Thank you for the info. How much did this all cost to do? I am thinking of using either legalzoom.com or llc.com to do all of the legwork for me and they are quoting $700-$800 for gold/platinum packages. If it is a lot cheaper to do it all myself I will do so!

Thanks

[cbridges 0]

Hi everyone,

I have been ready to start my own LLC company for a few months now but still have not got my EAD. My biometrics is on October 2nd so I should have the EAD a couple of weeks after. My question is can I begin the process of starting my company? I obviously wouldn't start making money until I had the EAD, I would just like to have everything ready to begin straight away.

Anyone had any previous experience or knowledge??

Thanks!

It would prob be fine but the only thing I could think of is this: Lets say they some how they find out your offically started the company before your ead arrived. They could turn around and ask you to prove that you didn't make money prior to receiving your ead card. So whether or not you want to go through that (prob won't ever come to that anyway) will decide what you want to do. But I don't think having a company in your name would violate anything, but I am not 100% sure.

If they do ask for this, show them the company bank statements and no payments going to yourself. Bring the company bank statements to the interview in case you are asked. Many foreign people own and operate businesses in the USA and THAT is what the ITIN is for after all. You have an SSN by now I presume and can use that. at any rate, if you incorpaorate it is a separate legal entity, it is not YOU and you will receive a separate tax number from the IRS. YOU own all, or a portion of, a corporation. And what? It is no different than owning a house or a car. You are perfectly legal and no questions would likely even be asked. It is not an immigration issue. I would gladly use it as evidence of relationship..."LOOK we own this business together" If you feel you need additional "cover" (you don't) you can make your wife additional owner or even 51% owner. Depending on what your business does, our remarkable government gives preference to corporations 51% owned by women. Brilliant idea to promote "women's business" and all the construction companies in the country are now 51% owned by women. Remarkable progress that law made for women.

Wow, completely different advice to the first 2 replies! I'm confused now as what to do!!! How could I possibly find out officially? I probably cannot can I??

Check your states "Secretary of State" office. Busineeses are a state matter, there are no federal laws, immigration or otherwise, regulating the forming of a business or corporation. The Secretary of State of each state does this. They will have the rules for your state. In most it is simple and not expensive to form a corporation. There are federal tax laws which apply and if you form a corporation you will need to get a federal tax ID number. You can get this from the IRS 24/7 online in about 3 minutes. They never delay you in a means to PAY tax.

A DBA ("doing business as") is a sole propriertorship which means something like "Joe Smith DBA Joe the Plumber" Obviously in this case JOE must be able to work legally, This business can be formed as fast as you can say "Joe the Plumber" and open a bank account in that name. Your wife can open the account, put the DBA in her name and you can volunteer. so what we do is MARY Smith becomes "MARY Smith DBA Joe the Plumber" Clienbts make checks to "Joe the Plumber" (NOT to Joe) and Joe deposits them in the "Mary Smith DBA Joe the Plumber" account. Mary Smith who owns this account, writes a CHECK to MARY Smith and deposits this to Mary and Joe Smiths" personal account. Joe is never paid a cent and you have proof.

It is perfectly and completely legal. It is not a dodge, it is correct business accounting and bookkeeping. I did for year sfor my oiwn DBA, now incorporated. Businesses are separate legal entities from a person, if separated by accepted business practices or a corporate charter. (an LLC is a corporation, just a different type of legal liability)

Thank you for your info too Gary/Alla. Can you please list what I should do in chronological order? In England I would have just paid someone to create the business for me but I am trying to save some money here by 'hoping' I can do all of the work myself!!

[cbridges 0]

Hi everyone,

I have been ready to start my own LLC company for a few months now but still have not got my EAD. My biometrics is on October 2nd so I should have the EAD a couple of weeks after. My question is can I begin the process of starting my company? I obviously wouldn't start making money until I had the EAD, I would just like to have everything ready to begin straight away.

Anyone had any previous experience or knowledge??

Thanks!

It would prob be fine but the only thing I could think of is this: Lets say they some how they find out your offically started the company before your ead arrived. They could turn around and ask you to prove that you didn't make money prior to receiving your ead card. So whether or not you want to go through that (prob won't ever come to that anyway) will decide what you want to do. But I don't think having a company in your name would violate anything, but I am not 100% sure.

If they do ask for this, show them the company bank statements and no payments going to yourself. Bring the company bank statements to the interview in case you are asked. Many foreign people own and operate businesses in the USA and THAT is what the ITIN is for after all. You have an SSN by now I presume and can use that. at any rate, if you incorpaorate it is a separate legal entity, it is not YOU and you will receive a separate tax number from the IRS. YOU own all, or a portion of, a corporation. And what? It is no different than owning a house or a car. You are perfectly legal and no questions would likely even be asked. It is not an immigration issue. I would gladly use it as evidence of relationship..."LOOK we own this business together" If you feel you need additional "cover" (you don't) you can make your wife additional owner or even 51% owner. Depending on what your business does, our remarkable government gives preference to corporations 51% owned by women. Brilliant idea to promote "women's business" and all the construction companies in the country are now 51% owned by women. Remarkable progress that law made for women.

Wow, completely different advice to the first 2 replies! I'm confused now as what to do!!! How could I possibly find out officially? I probably cannot can I??

Check your states "Secretary of State" office. Busineeses are a state matter, there are no federal laws, immigration or otherwise, regulating the forming of a business or corporation. The Secretary of State of each state does this. They will have the rules for your state. In most it is simple and not expensive to form a corporation. There are federal tax laws which apply and if you form a corporation you will need to get a federal tax ID number. You can get this from the IRS 24/7 online in about 3 minutes. They never delay you in a means to PAY tax.

A DBA ("doing business as") is a sole propriertorship which means something like "Joe Smith DBA Joe the Plumber" Obviously in this case JOE must be able to work legally, This business can be formed as fast as you can say "Joe the Plumber" and open a bank account in that name. Your wife can open the account, put the DBA in her name and you can volunteer. so what we do is MARY Smith becomes "MARY Smith DBA Joe the Plumber" Clienbts make checks to "Joe the Plumber" (NOT to Joe) and Joe deposits them in the "Mary Smith DBA Joe the Plumber" account. Mary Smith who owns this account, writes a CHECK to MARY Smith and deposits this to Mary and Joe Smiths" personal account. Joe is never paid a cent and you have proof.

It is perfectly and completely legal. It is not a dodge, it is correct business accounting and bookkeeping. I did for year sfor my oiwn DBA, now incorporated. Businesses are separate legal entities from a person, if separated by accepted business practices or a corporate charter. (an LLC is a corporation, just a different type of legal liability)

Thank you for your info too Gary/Alla. Can you please list what I should do in chronological order? In England I would have just paid someone to create the business for me but I am trying to save some money here by 'hoping' I can do all of the work myself!!

I began the process of starting my company today, I used LLC.com to do all of the paperwork and filing etc (A task I've vowed to never do again after this Visa application!). I have my biometrics appointment this Friday so things are finally beginning to look nice and promising!!

A huge thank you to all of your help!

[cbridges 0]

Hi everyone,

I have been ready to start my own LLC company for a few months now but still have not got my EAD. My biometrics is on October 2nd so I should have the EAD a couple of weeks after. My question is can I begin the process of starting my company? I obviously wouldn't start making money until I had the EAD, I would just like to have everything ready to begin straight away.

Anyone had any previous experience or knowledge??

Thanks!

It would prob be fine but the only thing I could think of is this: Lets say they some how they find out your offically started the company before your ead arrived. They could turn around and ask you to prove that you didn't make money prior to receiving your ead card. So whether or not you want to go through that (prob won't ever come to that anyway) will decide what you want to do. But I don't think having a company in your name would violate anything, but I am not 100% sure.

If they do ask for this, show them the company bank statements and no payments going to yourself. Bring the company bank statements to the interview in case you are asked. Many foreign people own and operate businesses in the USA and THAT is what the ITIN is for after all. You have an SSN by now I presume and can use that. at any rate, if you incorpaorate it is a separate legal entity, it is not YOU and you will receive a separate tax number from the IRS. YOU own all, or a portion of, a corporation. And what? It is no different than owning a house or a car. You are perfectly legal and no questions would likely even be asked. It is not an immigration issue. I would gladly use it as evidence of relationship..."LOOK we own this business together" If you feel you need additional "cover" (you don't) you can make your wife additional owner or even 51% owner. Depending on what your business does, our remarkable government gives preference to corporations 51% owned by women. Brilliant idea to promote "women's business" and all the construction companies in the country are now 51% owned by women. Remarkable progress that law made for women.

Wow, completely different advice to the first 2 replies! I'm confused now as what to do!!! How could I possibly find out officially? I probably cannot can I??

Check your states "Secretary of State" office. Busineeses are a state matter, there are no federal laws, immigration or otherwise, regulating the forming of a business or corporation. The Secretary of State of each state does this. They will have the rules for your state. In most it is simple and not expensive to form a corporation. There are federal tax laws which apply and if you form a corporation you will need to get a federal tax ID number. You can get this from the IRS 24/7 online in about 3 minutes. They never delay you in a means to PAY tax.

A DBA ("doing business as") is a sole propriertorship which means something like "Joe Smith DBA Joe the Plumber" Obviously in this case JOE must be able to work legally, This business can be formed as fast as you can say "Joe the Plumber" and open a bank account in that name. Your wife can open the account, put the DBA in her name and you can volunteer. so what we do is MARY Smith becomes "MARY Smith DBA Joe the Plumber" Clienbts make checks to "Joe the Plumber" (NOT to Joe) and Joe deposits them in the "Mary Smith DBA Joe the Plumber" account. Mary Smith who owns this account, writes a CHECK to MARY Smith and deposits this to Mary and Joe Smiths" personal account. Joe is never paid a cent and you have proof.

It is perfectly and completely legal. It is not a dodge, it is correct business accounting and bookkeeping. I did for year sfor my oiwn DBA, now incorporated. Businesses are separate legal entities from a person, if separated by accepted business practices or a corporate charter. (an LLC is a corporation, just a different type of legal liability)

Thank you for your info too Gary/Alla. Can you please list what I should do in chronological order? In England I would have just paid someone to create the business for me but I am trying to save some money here by 'hoping' I can do all of the work myself!!

I began the process of starting my company today, I used LLC.com to do all of the paperwork and filing etc (A task I've vowed to never do again after this Visa application!). I have my biometrics appointment this Friday so things are finally beginning to look nice and promising!!

A huge thank you to all that helped!