The United States LLC is a distinct business entity that offers an alternative to partnerships and corporations by combining the corporate advantages of limited liability with the partnership advantage of pass-through taxation.
Currency:
US Dollar
Language:
English
Type of law:
Common Law
Type of Company:
Limited Liability Company (LLC)
Uses:
US LLCs are popular vehicles for conducting international business.
Trading Restriction:
Not subject to US Federal Tax if the members are non-resident, no business is conducted in the US and has no US source income
Company name:
Restriction: Cannot be in conflict with pre-existing company within the State. Not allowed to use words such as bank, trust, insurance or reinsurance. Language: Any languages that use Latin Alphabet. The State may request an English translation if a foreign language name is used. Suffixes: Name should terminate in the words Limited Liability Company or LLC
Language of legislation and corporate documents:
English
Taxation:
US LLCs with non-resident members and which conduct no business in the US and which have no US-source income are not subject to US federal income tax and are not required to file a US income tax return
Annual license fee:
No Fee
Registered Agent / Office:
Must maintain a registered office in the state of incorporation at the office of a registered agent
Members:
Minimum number: One Publicly accessible records: No
Disclosure of Beneficial Owner:
Not publicly available
Managers:
Can be corporate or natural person Nationality: No restriction Publicly accessible records: No Location of meetings: No restriction
Secretary:
Local or qualified: Not restriction
Annual Reporting:
Must file annual report along with license fee. No requirement to file accounts.