Register your
company
Selecting a business structure for your company.
Choosing the right business entity is a critical step in setting up your company. As experts in US company formation, one of the most often asked questions we get is, “What structure is the best fit for my business?” The answer is not always straightforward, since it is highly dependent on the nature of your business.
Selecting
a Business Entity
LLC vs C-Corporation
| LLC Sole Proprietor / Partnership | C-Corporation |
|---|---|
| LLCs are not required to pay taxes directly. Rather than that, profits and losses are declared on the owners’ personal tax returns. | Company pays its own taxes. If the owners work for the same company, they are entitled to wages, compensation and dividends. In each of the above cases additional tax may apply. |
| To pay taxes company owner/owners are required to obtain an ITIN / SSN. | Company owners may not obtain SSN/ITIN numbers until they receive their wages or dividends. In the case of compensation of employees, the taxes are paid in their country of residence. |
| The owner of the business is subject to US scrutiny assessments, and his or her data may be shared with foreign regulatory agencies. | It is possible to attract investment, issue and sell company shares, sell the company itself or part of its shares to new partners. |
| It is difficult to raise funds or investment. | Access to public company positions for the company’s executives. Nominations for important roles within the company may become public. |
| Cannot be sold / In the event of dissolution of a partnership, the company gets liquidated. | |
| No reinvestment of profits. | |
| Federal income tax (10%-37%). | Fix rate 21% |
| The company may have a board of directors, each of which has the opportunity to receive a salary or compensation. | |
| It is possible to choose the type of taxation (LLC or Corp). Foreign owners cannot file as an LLC due to the IRS requirement to file Form 5472. |
Do you have any questions? We will advise you on the business models available to your company, so you can choose the right structure for your line of work.
Register your
company
Registration of a US company on a turnkey basis from $500
We guarantee to:
Sign up for your
free session today
Schedule a free 20 minute initial consultation to find out if our services fit your needs.
Owning a business is simple when you have our team by your side.
Set up your
business as easy as
one-two-three
01
Request a free
consultation.
Request a free consultation with one of our specialists. Discuss the primary difficulties affecting your company throughout your consultation. We will answer all of your questions about starting a business in the United States, selecting the ideal business location, opening a bank account remotely, and any other concerns that may arise.
02
Get personal
offer.
Our representative will then develop a personalized offer for the company’s services, taking into account your specific requests and offering you different payment alternatives, including instalment payment.
03
Long-term
partnership.
The foundation of our business is built on long-term partnership with top-notch professionals within US. We always strive for new ways to add value to our collaborations and continue working together to maintain mutually sustainable value. If you would like to talk with one of our partners, whether a certified public accountant, a business lawyer, or an immigration attorney, we will gladly arrange you a private session with their representatives to discuss your particular case in depth.
Registration
Take the first step to starting your own business in the U.S., register for your free consultation now.
Why
choose us?
All packages include registration
Recommend the best course of action
We handle all of the paperwork required for conducting business successfully in the United States. We are well-versed in all aspects of the industry and are constantly upgrading our knowledge and skills.
The most widely used payment solutions
Help get all the extra certificates
Helped hundreds of business owners
We work with E-2, L-1, EB-5, H1B and others
Manage your
business
At Edeal Inc. we are passionate about what we do and with our extensive experience in accounting and tax assistance we design, transform and manage processes that generate substantial returns for E-commerce businesses. We have a wide range of professional services and resources to offer you, and will ensure quality as well as value for money.
What can we do for you?
Prepare and file your annual LLC or corporate report
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What is an annual report?
The annual report summarizes a company’s activities for the previous fiscal year. Annual reports are used to inform state government agencies about the directors or managing members of a corporation or limited liability company, as well as about the company’s address and registered agent.
If you are a manager, director, or owner of a company, you are required to follow certain rules and regulations. One of them is to make an annual report for your business. We’ll discuss what an annual report is, how to file one, what information it should contain, and other pertinent details. It is very important to write a report and send it to your secretary of state in a correct way. Additionally, you might prepare annual reports for investors, shareholders, and other stakeholders, as discussed later in this article.
If your business is registered as an LLC, LLP, S-Corp, or C-Corp, you are generally required to file an annual report with your secretary of state. This is true regardless of the size or profit margin of your business. Individual entrepreneurs and partnerships are often exempt from filing an annual report.
What information is included in an LLC or corporate annual report?
The complexity of annual reports varies, but they typically include the following:
- The principal office address
- The names and business addresses of directors and officers (for a corporation), managers and members (for an LLC).
- Important identification numbers for your business.
- Company’s mission.
- Licensed signers and registered agents.
- The number of shares issued by the company.
The annual report’s purpose is to inform your state of any changes to the details or ownership of your business, such as a change in location or the addition of new directors or managers.
How to submit an annual report?
If your LLC or corporation is required to file an annual report, you can do so online through your state’s website. Along with filing the annual report, you will be asked to pay a fee, which varies by state and can range from $50 to $400.
Submission deadlines for your annual report
Some states require annual reports to be filed before a fixed calendar date. Others- to have a due date based on the anniversary of formation. The time period for filing (or e-filing) the annual report varies widely from state to state so please refer to your state website for official filing dates and mark it in your calendar.
When is an annual report not annual?
Depending on the state, you may only have to submit a biennial report once every two years.
In some states, LLC annual reports are referred to as information statements as well.
Certain states may also require additional paperwork when important details about your business change.
Annual financial and business reports
Along with filing an annual report, you may be required to prepare business reports and financial statements for investors, directors, managers, and other interested parties. While there are no legal requirements regarding the content of these reports, there are certain regulations on what should be included.
Financial Statements
Every business exists to make a profit, so finances are most often at the center of the annual report.
Such information can be reported in a variety of ways, including: a balance sheet containing information on the company’s numerous financial assets, liabilities, cash, and other critical financial aspects at any given moment in time.
Profit and loss (P&L) statements include information about the company’s income, expenses, revenues, and profits.
Stocks and shares issued: the volume and value of privately or publicly issued shares.
Financial projections and forecasting: revenue and profit estimates.
Contact Us today to talk over your tax returns. To initiate your free consultation session please fill-out the form below or call
Employer Identification Number (EIN) / Taxpayer Identification Number
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The SS4 is an IRS form that must be completed in order to receive an EIN (Employer Identification Number, often called a Tax ID number). Consider the EIN / Tax ID number as the Social Security number of your business. It is essential for opening a bank account in the company’s name, and to properly manage your company’s payroll. Edeal Inc. will obtain your federal EIN electronically and email it to you in one business day.
Is Your Business Entity Required to Have a Federal EIN?
In general, you must obtain an EIN unless your business is a sole proprietorship with no employees and no separate legal entity for your business. Occasionally, if you own an LLC that is a single-member entity with straightforward accounting, you can get away with using your personal Social Security Number for tax purposes and receiving payments from clients. But even the simplest businesses can generally benefit from using an EIN – the EIN serves as a tax ID for your LLC or other legal entity.
EIN is required for the following types of business:
All general and limited partnerships require a federal tax identification number (EIN).
- Multiple-member LLCs regardless of whether you have employees, require an EIN.
- Single-member LLCs that intend to hire employees within the next year. Even if your single-member LLC has no personnel, it’s still a good idea to get an EIN not only for tax purposes but simply because many banks and creditors will prefer doing business with you if you have an EIN.
You need an EIN if your LLC chooses to be taxed as a corporation (for example, if you choose to be taxed as a S corporation).
Even if you don’t have an LLC or other legal entity for your business, and you operate as a simple sole proprietor, you still need an EIN if you have employees or plan to hire in the year ahead.
Where and when an EIN is used?
In order to run your business, you’ll need your EIN in a number of different scenarios. You’ll need to use it to fill out W9 forms for clients (if you run a service business) and other forms related to managing payroll for your employees when you file your tax returns for your business. To open a business bank account and apply for a business loan, you also require an EIN. Just as you’d need a Social Security number for your personal use, you’ll need an Employer Identification Number (EIN) to run your business.
How do I get an EIN? Apply for an EIN online
Business owners can get an EIN by filling out an IRS form SS-4. If you want to apply for an EIN number online, Edeal Inc. offers a service that will simplify the process for you. Regardless of your location, after submitting your application online, Edeal Inc. will get your federal tax ID number electronically and email it to you within 15 business days. Not sure what you need or want to learn more about our services? Claim your free consultation session
Contact Us today to talk over your tax returns. To initiate your free consultation session please fill-out the form below or call
Accounting and Bookkeeping services.
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Edeal Inc. offers accounting services to businesses of all sizes across the United States of America. For E-commerce enterprises, we provide packages that include chart of accounts and general ledger setup, monthly data input, bill payment, deposit verification, monthly financial statements and reports, analysis and dashboards, bank reconciliations, and tax reporting.
Sign up for your free session today.
Income Tax Audit Support or Preparation/ Filing of Income Tax Returns (All States)
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We will take care of all necessary tax paperwork and assist you through an IRS or state audit. Responsibly and pro-actively managing tax obligations can make a significant impact in terms of minimizing inefficiencies and optimizing possibilities for your company. We provide solutions that may help you in accelerating positive changes of your business tax structure.
Interested in a free initial consultation?
Sales Tax/ Resale/ Exemption Certificate
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If you make sells within the United States, you must get a Sales Tax identification number in each state that requires it by law. Additionally, if your company is engaged in the resale of products within the USA, you may be eligible for a Sales Tax exemption. In this case, you are entitled to get a Certificate of Resale or Exemption.
Schedule a free 20 minute initial consultation to find out if our services fit your needs.
ITIN number
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What is an ITIN number?
An ITIN is an IRS tax identification number. The IRS gives ITINs to persons who are obliged to have a US taxpayer identification number but do not have or are not eligible for a Social Security number (SSA).
What is an ITIN used for?
In order to properly process and account for tax returns and payments for persons who are not eligible for Social Security numbers, the IRS offers ITINs. They are issued regardless of immigration status since the Internal Revenue Code requires both resident and nonresident tax payers to file and report their taxes. ITINs are only used for federal tax reporting.
An ITIN does not:
- Legalize work in the US
- Indicate Social Security eligibility
- Determine if a dependant is eligible for the Earned Income Tax Credit
Do I need an ITIN?
Which of the following statements applies to you best?
- You do not have a Social Security number and are not qualified to get one;
- You are required to provide a federal tax identification number or submit a federal tax return, and
- You fall into one of the following categories:
- Non-US resident tax payer who is required to file a tax return in the United States
- US resident tax payer who is submitting a US tax return (depending on the number of days stayed in the United States).
- Family member of a US citizen/resident
- Family member of a non-US resident visa holder
- Non-resident tax payer claiming a tax treaty benefit
- Non-resident student, professor, or researcher filing a tax return in the United States or claiming an exemption
Schedule a free session with our specialist today and cover the topics you want.