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Richard - Bizlaw
Richard - Bizlaw, Attorney
Category: Business Law
Satisfied Customers: 10648
Experience:  30 years of corporate, litigation and international law
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Hello, First I want to explain my business a little bit.

Customer Question


First I want to explain my business a little bit. I own an affiliate website that has recently taken off earning 4 figures per day. I have zero employees and my only expenses are articles/SEO work. I don't sell any physical products.

About 1 year ago I got an EIN number (MD)and business because I planned on selling physical products. I never did this and have not done anything under this business.

I want to start a LLC in MD for my affiliate website. I want a different name than what I used for my EIN business. If I understand correctly I don't need to keep my EIN if I am not paying anyone.

My question is should I close my EIN business and just start a LLC? My main goal from this is to not get killed on taxes and have some legal coverage in case I get sued.

Thanks in advance and sorry if this doesn't make sense. I have been researching this stuff and I'm running in circles.
Submitted: 7 years ago.
Category: Business Law
Expert:  Richard - Bizlaw replied 7 years ago.
Why don't you take the corporation you have and make it a sub chapter S coproration which will provide the limited liabillity you seek. If you don't like the corporate name, you can just get an assumed name and do business under that and still keep the same corporation. That is much less hassle than closing it down and starting up an LLC.

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