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    3 Replies Latest reply on Aug 8, 2008 11:24 PM by Bridge

    Single Member LLC

    kaliamama Wayfarer
      I want to from a Stafing LLc in dallas, texas i have some questions ,Hope this is the right place to post

      Assumtion :
      1.Home base Stafiing company
      2.Location , dallas ,texas
      3. Only memer /owner
      4.LLC address and owner address same as single member LLC (Appartment address)
      5. I am the only owner and i have one full time job as well



      1.What is registered agent ? do i need one .
      2.Can i put my name as agent , i live at same place what LLC address is.
      3.what different kind of taxes i neeed to pay as i have full time job as well
      4.waht is Veil percing ? is it true for LLC as well ?
      5. Miminum fund need to start a staffing LLC .
      6. minimun fund need to bring people on H1 from other country.
      7.any suggestionrelated to LLC


        • Re: Single Member LLC
          LUCKIEST Guide
          Single Member LLC, Welcome

          Tell us more. Go to Members page and share more info so we do not need to make Assumptions.

          Questions: How soon do you plan on starting this business?? Do you have a Business Name??

          Anybody in business should have both a Lawyer and an Accountant.

          Do you know about SCORE?? SCORE is FREE and can help you.

          Good luck, LUCKIEST
          • Re: Single Member LLC
            kaliamama Wayfarer
            One more question

            what is operating agreement ? do i need one as i m only owner of LLC, ? is so what should be in it and where to file it and when.
            • Re: Single Member LLC
              Bridge Navigator
              I hope this information helps.

              1) You can have a single member LLC
              2) addresses can be the same
              3) Registered Agent is the person authorized to accept legal notice for your company. Yes you need to designate one. It can be you. It can be the same address.
              4) You will need to pay taxes on teh income you generate. The amount/type will vary based on circumstances. In general, payoll taxes (FICA, etc.) and unemployment. I do not know about TX specific. The IRS site is very helpful. Part depends on how you elect to be taxed - as a sole proprietorship or as a corporation. You will need to determine this. If you elect to be taxed as a copr. I would suggest also making a "S: corp. election (see many post on the subject of LLC tax elections).
              5) Veil piercing or "Piercing teh Corporate Veil" refers to potential liability. People set up corps. and LLCs to protect their personal assets in case the company is involved in a lawsuit or has some type of liability. The corporation is its "own" legal person. The "veil" can be peirced if it can be shown that the person and the business was one in the same; i.e. comingling bank accounts, no proper operating agreements in place, etc.

              So, yes, you do need an operating agreement and get a seperate bank account and credit card for your new business. Pay all business expenses from this account.

              You will need to determine your own funding requirements.

              Hope this helps.