Can I change my LLC business description?

Can I change my LLC business description?

How much tax does an LLC pay

After you register a company there may come a time when you wonder if it is possible to change the structure of your business. From Hispanos Emprendedores we want you to know the reasons that would lead you to make this modification.

As the business grows, needs change and, therefore, you will need to adapt to the new conditions with a change of structure. Sometimes you may want to limit your liability, reduce paperwork or change the way you pay taxes.

Deciding on the type of company you are going to register is fundamental to its operation. This will determine aspects such as the paperwork or taxes you will have to pay. As the business moves forward, it becomes necessary to review whether or not the structure you originally chose continues to work.

Before making the change, consider what the alternatives are and what is involved in operating as a different entity. What are the advantages and disadvantages of each one, the procedures to be followed, the permits to be requested and what other changes are involved (the name, for example).

Llc for foreigners

Select the category that best represents your company. All locations of a company must share a “Main Category”. Choose a category that is as specific as possible and, at the same time, representative of your main business activity. If you select multiple categories, the category in the first field will be the main category.

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If your business serves customers in a specific local area, enter the service area. When you indicate your service area, customers know where you can visit them or send them your products.

To set up your service area, you can specify cities, zip codes, or other areas where you offer your services.  Learn how to set up your service area.

Focus primarily on information about your company rather than providing details about promotions, pricing or sales. For a complete list of guidelines, see the business description guidelines.

What can I do with an LLC?

An LLC that does not wish to accept its default classification for federal tax purposes, or that wishes to change its classification, uses Form 8832, Entity Classification Election, to elect how it will be classified for federal tax purposes. Generally, an election specifying the classification of an LLC is not effective more than 75 days before the date the election is filed, nor more than 12 months after the date the election is filed. An LLC may qualify for late election relief in certain circumstances. See the General Instructions for Form 8832 for more information.

It is possible to change the name of an already incorporated company

We have already written several articles on the blog about LLCs, the purpose of today’s article is not to repeat that information, but rather to explain in depth the many possible uses of LLCs.

As you may know, the LLC is currently one of the best and most versatile business structures we can find, especially for perpetual tourists and people willing to emigrate to the right country, this type of company allows you to do almost any type of business and at the same time not pay taxes.

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It is true, our price is higher than most of the agencies you will find out there, but in exchange you have the security that we will know how to answer your questions, that you will be able to open company accounts and use the services you need (like paypal or stripe, for example), that you will not end up penalized for not knowing your obligations before the US Treasury, that we can inform you about your tax obligations regarding the country of personal tax residence and, in short, that everything will work well.

Can I change my LLC business description?
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