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What is an LLC?
The abbreviation "LLC" stands for "Limited Liability Company". The LLC is thus a limited liability company that combines the advantages of a corporation with those of a partnership.
What are the characteristics of an LLC?
An LLC gives its shareholders a lot of freedom to individually determine important questions about the company, such as the distribution of profits or the management. Specified organs such as the board of directors do not exist at the LLC. At the same time, the LLC is a limited liability company. The individual partner can only be held liable for debts of the company in very few exceptional cases.
Can a company work as an LLC in any industry?
No. A bank or insurance company generally cannot take the legal form of an LLC. Depending on the state, members of other industries are excluded: such as architects, tax consultants and / or lawyers.
What is the minimum capital required to set up an LLC?
You do not have to bring a minimum capital into your newly formed LLC. However, fees may apply during the formation process.
LLC in the US - partnership or corporation?
Founders of an LLC in the USA are generally free to choose whether their LLC is to be classified as a partnership or a corporation there. While with the LLC as a partnership only the profits of the individual partners are taxed, with US corporations tax is levied on the company itself and on the profits of the individual partner. If you do not do business with your LLC in the USA, you only pay a relatively low flat-rate tax in some states.
Is there a uniform corporate law for LLCs in the USA?
No, the exact terms and conditions for an LLC incorporated, as well as the formation requirements, vary from state to state.
How long has the legal form of LLC existed in the USA?
In 1977 the legal form of LLC was first introduced in the US state of Wyoming. Gradually, all other states followed, so that today every state in the USA allows an LLC as a legal form for a company.
Who can even set up an LLC in the USA?
Both legal entities (e.g. companies) and natural persons can become shareholders of an LLC in the USA, regardless of whether they are residents or foreigners.
Can you do business with an LLC in Germany?
With an LLC founded in the USA, you can do business in Germany. To do this, you must generally register your company as an independent branch of your US company with the trade office and have it entered in the commercial register and you must inform the responsible tax office that you have become a partner in a foreign company. You also need an apostille for your certificate of incorporation, which confirms the authenticity of the certificate.
How does the taxation of an LLC work in Germany?
In Germany, it does not matter whether you have registered your LLC in the USA as a partnership or as a corporation. In this country, the classification of your company is carried out by the responsible tax authorities. The basis for this is a so-called two-stage comparison of legal types. Depending on the assessment of the office, you may have tax advantages or disadvantages. The right wording in the partnership agreement will help you achieve the classification you want. LLC.de will be happy to advise you on this question. You can also read our page on the topic "LLC in Germany“.
What documents do you need to set up an LLC?
To set up your LLC, you need to fill out the so-called "Articles of Organization". You will use them to provide the state in which you are setting up the LLC with basic information about the company to be set up. Often not a mandatory requirement for the establishment, but the articles of association are very useful, in which the essential characteristics of the company you founded are recorded.
What can LLC.de do for you when founding an LLC?
Alton LLC takes over the entire formation formalities for its customers. Company founders from Europe do not even have to travel to the USA and are owners of a US LLC in a relatively short time. If required, Alton LLC also offers individual services as well as service packages such as an office service. You can find more information on our page "Prices / services“.
What is a registered agent?
In the case of a US LLC, at least one person must be present in the respective US state in which the company was founded in order to be available as a contact person for government agencies. The Registered Agent assumes this role. Alton LLC provides such an agent for its customers from Europe who do not do business in the USA.
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