US LLC and Bank Account
California package gives the most advantages to the following clients:
- non-US residents, who would like to use a highly prestigious US company for business activities inside and/or outside of US
- US residents, who need a company in California, but do not have an office address in California
The Package includes all documents required for starting your business in California, EIN Registration and bank introduction services for opening a bank account in the US
Information about California LLC
The entity name must contain the term “Limited Liability Company”, “Ltd. Liability Company”, “Limited Liability Co.”, or “Ltd. Liability Co.” or the abbreviation “LLC” or “L.L.C.”
An LLC’s name must be distinguishable and different from the names of already existing businesses registered in California or foreign corporations authorized to transact business in California.
Registered office address must be located in California. Our fee includes a California registered office address and registered agent for the first year.
Principal office address (business address) of the California Corporation may be in any country.
A minimum of one member is required. Residents of any country, individuals and legal entities may become a member.
Management of an LLC can be governed by its member(s) or by elected manager(s). If the Articles of Organization states that management of the LLC is vested in a manager(s), a minimum one manager is required.
Managers do not need to be members of the LLC. Residents of any country individuals and legal entities may become managers of a California LLC. A manager who is an individual must be eighteen years of age or older.
Managers may be designated and removed by the consent of a majority of its members.
Gross incomes between $250,000 and $499,999 pay a tax of $900. Gross incomes between $500,000 and $999,999 pay a tax of $2,500. Gross incomes between $1 million and $4,999,999 million pay a tax of $6,000. Gross incomes of $5 million or greater pay a tax of $11,790. For businesses with less than $250,000 in gross income, the $800 minimum franchise tax applies.
The net income from an LLC passes through to the business owners who must pay personal income with rates based on where they reside.
All foreigners/non-residents who own a US LLC must file a 5472 US tax return with the IRS for disclosure purposes even if you do not owe tax in the US.
When filing the annual income tax return for a LLC, members’ names must be listed.
LLC is required to keep in its principal place of business, which can be any country, the following documents:
- A current list of the name and last known business, residence or mailing address of each member and manager
- A copy of any written LLC agreement and certificate of formation and all amendments thereto
- Copies of LLC’s federal, state and local income tax returns (if any)
- Information regarding members contributions (amount of cash and/or statement of the agreed value)
- Other information regarding the status of the business and financial condition of the LLC
On April 15, your company must file the federal tax return along with the annual franchise tax to the state of California.
Formation and preparation of all internal documents for a California LLC takes 5 to 10 business days.