What is an LLC, and what are the benefits of LLC Registration?
A Limited Liability Company or an LLC is a famous business structure in the USA that protects business owners from personal liability for business debts and claims. LLC is a hybrid structure with a corporation, sole proprietorship, and partnership characteristics.
LLC is not considered separate from its members for tax purposes. It is also a pass-through entity, like a sole proprietorship and partnership. This means that LLC business profits or losses are passed through to its members, who report the profit or loss on their tax returns according to their share.
LLCs are highly advantageous. They provide the same liability protection as corporations without requiring record keeping compliance, board meeting requirements, and other paperwork. LLC seems very popular, especially when a startup chooses a legal business structure.
Are non-US residents allowed to own an LLC?
Yes. Non – US Residents can own an LLC in the US even though they are not citizens and do not even live in the US. However, there are several matters that you need to consider before forming an LLC in the US as a non-resident. But you don’t need to worry now because team Befiler is here to help you.
Being a non-US resident cannot keep you away from your dreams and doing what millions of others have done before by starting a business in the USA. However, some rules need to follow to make your dream come true. To ensure there are no missteps, it is essential to consult with a professional team like Befiler. We will help to navigate you through the whole business formation process.
What are the benefits of an LLC?
Limited Liability – LLC provides its owners with limited liability. This means that LLC owners are not personally liable for any debts incurred by LLC business.
Pass through taxation – The profit or losses incurred by the LLC business pass through its business owner’s tax return.
Flexibility in taxation – LLCs can also choose how they want to be taxed. They are usually taxed like partnerships or sole proprietorships. However, multi-member LLCs have an option to be taxed as corporations.
Flexibility for ownership – There is no maximum or minimum limit for the number of owners of an LLC. It can have only one owner or can also have multiple owners.
To register an LLC on US soil is neither complex nor rocket science at all now. Befiler provides LLC and C-Corp incorporation, EIN registration, US bank account opening, and federal and state tax filing services. Contact us through email at email@example.com or WhatsApp to set up your business abroad while residing in Pakistan or elsewhere.