61–70 of 115 posts
Has anyone here tried Atlas ( https://stripe.com/atlas )? I'd love to hear your thoughts on it.
I'd love to see a Stripe Atlas directed at US startups. I don't see why incorporating should be so expensive and laborious.
But, based on Patrick's comment, maybe Atlas is now open for everybody.
So if you are planning to incorporate in CA, be sure you are serious and don't mind an automatic $800 on the expense side without anything on the revenue side.
Please correct me if I am wrong on this.
Also, does anyone know why this is the case? I haven't seen this in a few other states where I have resided. What does this buy my company in terms of benefits? Was there some ballot proposition that got passed to levy/enforce this fee?
I would love If anyone extend this information for foreigners (in my case EU) wanting to open a US based company.
All this legal tape and bureaucracy is really an impediment to a young startup, especially if you're trying to bootstrap. I was personally hit with the california LLC fee of $800 a year (was three years behind) and one day I logged into my Silicon Valley bank account and saw $3,300 withdrawn by CA Franchise Tax Board. Not the happiest day of startup life.
If my company won't be making money or revenue for quite some time, what does that mean for me in terms of the IRS? Will we get penalized for NOT having revenue?
It's worth pointing out that California imposes a MINIMUM tax of $800/yr on LLCs (even if you have zero revenue). This disincentives you from going and forming an LLC "just because".
Setting up a corporate entity (any kind) in California gives you a mandatory minimum $800/yr bill from the CA Franchise Tax Board. So if you are planning to incorporate in CA, be sure you are serious and don't mind an automatic $800 on the expense side without anything on the revenue side. Please correct me if I am wrong on this. Also, does anyone know why this is the case? I haven't seen this in a few other states w…
All this legal tape and bureaucracy is really an impediment to a young startup, especially if you're trying to bootstrap. I was personally hit with the california LLC fee of $800 a year (was three years behind) and one day I logged into my Silicon Valley bank account and saw $3,300 withdrawn by CA Franchise Tax Board. Not the happiest day of startup life.
That California business AMT ("franchise tax" of $800 a year, even if your business earns $0, or negative dollars, even if your business is a nonprofit) is a small business assassination program. I moved to California unaware of it, and was unable to migrate my non-profit to help fellow combat veterans with civilian reintegration, because the AMT was around my operating budget for the year. That's not a lot, but I ca…
Thank you. Thats exactly what I would classify it as. Drown the startup in a bathtub (using a bit of Grover Norquist rhetorical flourish there). I am just not bright enough to see what the upside of this fee is, especially in CA which I thought was a business/startup friendly state.
Earlier quoted context omitted.
Yes, agreed. No need to incorporate just to get together and hack on a project. That said, I would certainly consider (at the very least) signing an agreement with your hacking buddy before launching anything that might generate revenue. I've seen and heard multiple co-founder friendships fall apart once things started to get "real". Good luck!
Yes, please take this advice. It's worth noting that California imposes a MINIMUM tax of $800/yr on LLCs (even if you have zero revenue), which, if you're on a true shoestring budget or are only half-serious about the business, is significant. This effectively encourages you to not form a company in CA if it's only expected to produce a tiny amount of income.