Thread: Create LLC Before Product Launch?

Quote: Originally Posted by robertson240 You can always transfer to an S-Corp down the road, not to difficult at all. There are forms with your Sec. of State and a small fee that varies from state to state. I always suggest to single business owners to start as an LLC because it is very simiilar to a Sole Prop. and easier to maintain by yourself. With the S-Corp there are tax issues that I do not even want to get into right now, but I am sure...

You can always transfer to an S-Corp down the road, not to difficult at all. There are forms with your Sec. of State and a small fee that varies from state to state. I always suggest to single business owners to start as an LLC because it is very simiilar to a Sole Prop. and easier to maintain by yourself. With the S-Corp there are tax issues that I do not even want to get into right now, but I am sure you are aware of.

Quote: Originally Posted by debbystewart I also live in PA and I don't think any problem with it. You can open an LLC anytime. When you file for taxes, you can report earnings of $0 if you haven't made any money. I would try to register the LLC in delaware. You can still do it even if you live in PA. Thanks for sharing your opinion, it will surly help me a lot.

You shouldn't have to go through the expense and hassle of starting an LLC at this point. You can register your business as a DBA with your local county offices (sole proprietor) so that you can open your business checking account. You can use your home address for the business address. You shouldn't need to start filing taxes until you actually start operating as a business. Check with an accountant on that. You can use your bank...

Careful with LLC. Consult with a lawyer first. I did a few years back and basically his concern with LLC is that this is relatively very new and there is not one case built on it yet. Therefore, the benefits of a LLC is not fully realized and uncertain right now.

I don't think the date of registration would "carry over" as you say, because you would be starting a new corporation with the C corp. However, I don't think you would have wasted anything by having the LLC. You will get all of the benefits of the LLC for the time you have it. If you are engaging in business activities, even if not profitable right away, an LLC is valuable in that it gives you liability protection...