[Hidden-tech] Thanks re: LLC, Sub S.

Jim Ussailis ussailis at equinox.shaysnet.com
Mon Jul 25 11:21:53 EDT 2005

Inc. costs

1. $125 to the Sec of State for a yearly filing. This can be reduced to 
about $110 if it is done on-line before 15 March.

2. $460 excise tax to be filed with corp income taxes, or the extension 
for corp income taxes. 

If you are a Sub S, then the income taxes are a passthru to the stock 
holders personal income taxes. If a "C" corp, then taxes are paid by the 
corp, and the excise tax might be more...I don't know.

Somewhere, I believe with the $125 filing there is an additional ammount 
to be paid if there are a lot of stock shares, above 100,000, I think.

Someone mentioned filing in Deleware. If you do, then you must secure an 
agent there, AND pay an amount to the Commonwelth for being a "Foreign 
Corporation." That amount about equals the amount you would pay as a 
resident corp in the Commonwealth. You don't think the the State House 
would let you get away with something, do you?? We are talking about 
experts in grabbing $$!

Most folks think that the words "foreign corp" means outside the country. 
Incorporation is a state thing. A corp out-of-state is "Foreign."

If you do file in Deleware, I would not suggest, but URGE, you to look 
into the tax structure as a foreign corp. Remember, you can file in 
Deleware anytime in a heartbeat (possibly on-line).

Jim Ussailis

jim at nationalwireless.com

On Sun, 24 Jul 2005, Charlie Heath wrote:

>    ** Be a Good Dobee and help the group
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> A couple more questions.
> It looks to me like the annual state fee for an LLC in MA is $520.  Is that 
> correct, and what other annual costs are there for LLC?  What tax forms have 
> to be filed?
> What about Sub S annual costs?  Have to send out the Schedule K forms to 
> stockholders.  Is there any other form the Sub S has to file?
> Thanks again.
> Charlie Heath
> Blue Herring 
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