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I need to form an LLC and register it as an S-Corp before…

I need to form...

I need to form an LLC and register it as an S-Corp before March 15th. I am a 1099 in Medical Device Salesman and will live in 2-states this year (Georgia + AZ) I work remotely and do business nationwide - it does not matter which state I live in. I don't have employees (fiance is a partner). Wonder how I should register 1.) Wyoming as one single LLC 2.)Register in Wyoming and have 2 subsidiary LLC's in GA + AZ or 3.) Register in GA and have foreign qualification in AZ

Accountant's Assistant: Can you tell me what state the LLC is registered in?

It's not yet registered - I need to choose the correct way and state to register in

Accountant's Assistant: Has anything been filed or reported?

Not yet - I need direction on where to file

Accountant's Assistant: Anything else you want the lawyer to know before I connect you?

Not that I can think of

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Answered in 22 minutes by:
3/9/2018
Kelly McGlynn
Kelly McGlynn, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 30
Experience: President at Exceptional Bookkeeping Inc.
Verified

Hello. Thank you for your question. I'm Kelly and am here to help you today. I am reviewing your question and will be with you shortly.

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First of all, if you want to have the business be an S Corporation, you cannot set it up as an LLC. You have to set it up as a Corporation and then file form 2553 with the IRS electing S status.

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Customer reply replied 1 month ago
does an S-Corp need to be registered in different states?

The corporation will be incorporated in one state. I would look into each state and the fees associated with incorporation. There may be a difference there. For federal purposed it should not matter what state you are incorporated in. I would pick the state that is more favorable and less expensive to incorporate in. For instance in Nevada, it's $750.

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Customer reply replied 1 month ago
I read that you can elect to have your LLC's file taxes as an S-Corp? Is that false?

An LLC can elect S Corp status I believe. I have never personally seen that done. The LLC is less expensive to set up than a Corporation. Again, the fees would vary by state so you could choose where you would want to organize the LLC that would be most beneficial to you.

Kelly McGlynn
Kelly McGlynn, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 30
Experience: President at Exceptional Bookkeeping Inc.
Verified
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Kelly McGlynn
Kelly McGlynn
Kelly McGlynn, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 30
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Experience: President at Exceptional Bookkeeping Inc.

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