LLC & Corporation Setup
Starting a company goes better when the tax side is planned from day one. We compare the tax side of a sole proprietorship, an LLC and a corporation with your numbers, prepare and submit the California formation filings on your instructions, put the EIN and local registrations in place, and set up the books and tax calendar for your first year. Operating agreements and bylaws are legal documents; for those we work alongside your attorney.
What's included
- Tax comparison of a sole proprietorship, LLC, S corporation and C corporation
- Preparing and submitting California Secretary of State filings on your instructions: Articles of Organization or Incorporation, and the Statement of Information
- EIN from the IRS, and the S corporation election (Form 2553) when it fits
- City of Los Angeles business tax registration, a seller's permit (CDTFA) if you sell taxable goods, and an employer account (EDD) once you pay wages
- Bookkeeping and payroll set up from the first month
- California's $800 minimum annual tax and your first-year tax calendar
This is for you if
- You are opening a restaurant, shop, online store or service business
- You work as a sole proprietor and are weighing an LLC or S corporation
- You need the company in place before signing a lease or opening a business bank account
Questions
Sole proprietorship, LLC or S corporation: which is right for me?
Each is taxed differently, and the answer depends on your expected profit, payroll and how you take money out. We compare them with your own numbers before anything is filed.
Is there a yearly cost to keep a California LLC or corporation?
Yes. Most California LLCs and corporations pay at least $800 a year to the Franchise Tax Board (a new corporation is generally exempt from the minimum in its first year) and must keep their Statement of Information current with the Secretary of State. We put these dates on your calendar.
Have a tax question?
Call the office or send a message, and we will get back to you as soon as we can.