obrt: ≈ sole proprietorship; several types: slobodni, vezani, and povlašteni obrt (free, tied, and privileged proprietorship registered according to profession; tied and privileged proprietorships are those only master craftsmen can register,) paušalni obrt, obrt-dohodaš, obrt-dobitaš (flat-rate proprietorship, income tax p., profits tax p.; these are registered according to the type of taxation; first two are obligated to pay income tax and the last one is obligated to pay profits tax), sezonski obrt (seasonal proprietorship, that runs for a limited number of months during a year)
Washington "corporation", "incorporated", "company", or "limited", or the abbreviation "corp.", "inc.", "co.", or "ltd."; must not include "Bank", "banking", "banker", "trust", "cooperative", or any combination of the words "industrial" and "loan", or any combination of any two or more of the words "building", "savings", "loan", "home", "association", and "society" § 23B.04.010 Revised Code of Washington
LLC members are taxed on their personal tax returns. The LLC itself is not taxed. S-Corp shareholders are taxed on their personal tax returns. The company itself is not taxed. C-Corps are taxed both at the corporate level and again on shareholders' individual returns. Non-Profits are taxed on a corporate level but may also enjoy a host of tax-exempt benefits. Sole Proprietorships are taxed only on their owner's tax return.
Tennessee "corporation", "incorporated", "company", or the abbreviation "corp.", "inc.", "co.", or words or abbreviations of like import in another language (provided they are written in Roman characters or letters); existing corporations which were formed using only "limited" or "ltd" are not required to change their name § 48-14-101 Tennessee Code
Depending on elections made by the LLC and the number of members, the IRS will treat an LLC as either a corporation, partnership, or as part of the LLC’s owner’s tax return (a “disregarded entity”). Specifically, a domestic LLC with at least two members is classified as a partnership for federal income tax purposes unless it files Form 8832 and affirmatively elects to be treated as a corporation. For income tax purposes, an LLC with only one member is treated as an entity disregarded as separate from its owner, unless it files Form 8832 and elects to be treated as a corporation. However, for purposes of employment tax and certain excise taxes, an LLC with only one member is still considered a separate entity.
Delaware "association", "company", "corporation", "club", "foundation", "fund", "incorporated", "institute", "society", "union", "syndicate", or "limited", (or abbreviations thereof, with or without punctuation), or words (or abbreviations thereof, with or without punctuation) of like import of foreign countries or jurisdictions (provided they are written in Roman characters or letters) Title 8, § 102, Delaware Code
For businesses in industries like construction or real estate, where unforeseen circumstances and hazardous conditions may hold the owner responsible, consider starting an LLC. The protection gained means you will not be held personally liable, protecting you and your family from litigation or the debts of the business. An LLC may not be the best choice for business owners who plan on raising capital through outside investment. LLCs are not public structures and do not have shareholders, so taking a company public is not an option either. However, in the event that you'd like to take your business public you may switch to a public legal structure, like a C corporation, later on.
As a "Third Party Designee, filing agent" pursuant to IRS Form SS-4, paid prepares and submits applications for an Employer Identification Number ("EIN") to the IRS as a representantive of our clients. Free-LLC.com does not verify EIN application submissions and is not responsible for the accuracy of the information provided. Any individual may obtain and submit his or her own EIN application at no cost through the official IRS website at www.irs.gov.
Limited liability companies are easy to maintain while remaining extremely flexible, so it's not surprising that it is a popular choice among businesses of all different shapes and sizes. Often, owners of an LLC are self employed or run smaller businesses, where the simplicity of pass through taxation and a lack of annual requirements makes a lot of sense. Since the profits and losses are reported directly on the owners personal tax returns, filing taxes is much easier.
Nevada No specific requirements stated except that a name appearing to be that of a natural person and containing a given name or initials must not be used as a corporate name except with an additional word or words such as "Incorporated", "Limited", "Inc.", "Ltd.", "Company", "Co.", "Corporation", "Corp.", or other word which identifies it as not being a natural person 78.035 Nevada Revised Statutes
On the other hand, if you are not responsible for its tax, then you should declare the equipment in Part III of the Business Property Statement (Equipment belonging to others). Where equipment is declared in Part III of the Business Property Statement, the Assessor will also send a Notice to File to the person reported as the equipment's actual owner.