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    5 Replies Latest reply on Jan 24, 2009 9:45 AM by Davecore

    Single Member LLC in Florida Question

    Davecore Wayfarer
      I am in the process of building a few sites that will use a affiliate revenue model (aka I only make commission from linking sales) So I will not be actually selling anything to anyone from me personally, just price comparsion items. I will be the only member in the business. The other site is just a niche social network that will be built in about a year. These two sites will both be under me. Later on I might offer a place for people to sell/buy items, but not right now (too much legal issues).

      I have a degree in international business and management so I have a little basic business background, but no tax or legal knowledge; expect from what I read. Basically what will be the easiest entity to file and maintain? I would rather only have to file taxes once a year instead of quarterly as well.

      Now for the acutal question. Remember this is for a affiliate driven website(so im not selling anything,just linking) and a small niche social network(Later year or so)
      1.SMLLC or S-Corp? Which is the easiest to start and maintain in FL?
      If SMLLC
      a. SMLLC with pass through entitiy or SMLLC with S Corp election? Why?
      b. If any, what special passages should I place in my Articles of Orginzation and Operating Agreement? Please be detailed and tell why?
      2. If just a plain SMLLC, in a simple outline what is the filing for taxes like; e.g. Sch C Profit & Loss? how much work?
      a. Is it worth paying someone or is it simple enough for a normal person to do like me?

      Sorry for asking so many questions just figured I ask a few together so people could see where my mind is right now. I'm also just worried about my personal assets and my Limited liability.