First, verify the approved state filing and get an EIN if required. California LLCs and stock corporations file an initial statement within 90 days of registration; most New York LLCs file publication proof within 120 days after formation. Set up owner records, banking, and required tax accounts before taxable sales or wages; calendar elections. Owners report disregarded LLC, partnership, or S corporation income; C corporations generally pay their own income tax.
Self-employed · Partnerships · Corporations
An LLC or corporation formed elsewhere must register where local work meets the state's test; first map activity and file the entity's form. Sole proprietors have no separate entity to qualify; partnership type controls filing. A late-filing entity owes fees and penalties. Its owners generally do not pay solely for missed registration; sole proprietors owe their own obligations, and general partners may owe partnership debts.
Self-employed · Partnerships · Corporations
First, value capital; agree on profit, cash, control, and exits. In a partnership-taxed LLC, a qualifying profits interest avoids grant tax; the worker generally pays tax on a capital interest for services, and both members pay tax on allocated income without cash. S shareholders pay tax without cash; their shares need equal economic rights, and working owners need reasonable wages.
Partnerships · Corporations
Check work permission, tax residency, owners and elections first; visa status does not choose the return. Without a corporate election, a sole owner reports income on Form 1040 or 1040-NR, and foreign ownership may require Form 5472. Multiple owners generally file Form 1065; partners pay tax. A C election makes the LLC pay tax; eligible S shareholders pay it.
Individuals · Self-employed · Partnerships · Corporations
If you live and operate in one state, usually form there. Forming elsewhere adds an agent and annual charges, while your operating state may still require registration and tax. Compare Delaware for complex corporate share rights. The entity pays state charges; owners report income passed through from a disregarded LLC, partnership or S corporation.
Self-employed · Partnerships · Corporations