Aside from extra paperwork and incorporation costs, what is the difference in filing for a single member LLC, electing to be taxed under Subchapter S, and single member corporation, electing to be taxed under Subchapter S?

Hi

There is no difference as far as taxation is concerned. Just from a business perspective, LLCs these days are very popular due to the simplicity and ease of formation. In addition, the number of compliances and annual state forms/fees are lower as compared to corporation.

Other t...

What's the difference between filing single and filing for head of household on you income taxes?

Hi

Your marital status on last day of the financial year determines the filing status.

Below is some general information.

1. Single vs Head of household.
   1. In order to file status of single, you should be unmarried as of last day of the financial year.
   2. To file...
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How does a startup handle operational tasks such as accounting, payroll, and legal?

It's always best to outsource your accounting, payroll, and taxation needs to a company that specializes in these services.

This will allow you to focus on your core business.

** Based on our response to a  question asked on Quora.

What states besides Montana can I form an LLC and doesn't require you to charge online sales tax?

In every state, as a seller, you are required to collect sales tax from a customer based on the nexus rules by state.

If you are a reseller, then you need to complete a reseller certificate and hand it over to your supplier. This is so he does not charge sales tax on your purchases.

Is Montana a good state to form an LLC for my online business?

Montana has $70 as filing fees and $20 annual fees for LLC. So, costs are lower compared to few of the other states like IL or MA

Is there any reason why you are opening LLC only in Montana?

Delaware and Nevada are more popular for online businesses. However, if you open LLC in thes...