Stripe Atlas for LLCs • Hacker News Board

Re: Stripe Atlas for LLCs

#31

Post by patio11 » Mon, Apr 30, 2018, 5:33 PM UTC

sheeshkebab wrote: post #15

patio11 wrote: post #9

Earlier quoted context omitted.

An LLC can elect to be taxed as an S Corp. We're happy to introduce all Atlas companies to accountants; this is something you can ask them to do for you.

I think parent meant a C Corp with automated IRS tax election for S Corp... not llc.

Same story for C Corps, FWIW.

Re: Stripe Atlas for LLCs

#32

Post by no1youknowz » Mon, Apr 30, 2018, 5:35 PM UTC

patio11 wrote: post #6

Hiya folks! I worked with the team on this; happy to answer any questions you have.

Would it be possible to use Stripe Atlas to create the LLC, bank account etc and use Stripe normally for handling the payments side for the subscriptions.

However, if a marketplace came with the application. To use a 3rd party for all that comes with it. IOW, not wanting to use Stripe Connect for various reasons that make sense to the business.

Re: Stripe Atlas for LLCs

#33

Post by patio11 » Mon, Apr 30, 2018, 5:37 PM UTC

no1youknowz wrote: post #32

patio11 wrote: post #6

Hiya folks! I worked with the team on this; happy to answer any questions you have.

Would it be possible to use Stripe Atlas to create the LLC, bank account etc and use Stripe normally for handling the payments side for the subscriptions. However, if a marketplace came with the application. To use a 3rd party for all that comes with it. IOW, not wanting to use Stripe Connect for various reasons that make sense to the business.

You're welcome to have your company do business with anyone you wish it to do business with. We do not obligate you to use any Stripe product; we feel like we should always have to earn your business.

(We in fact go further than that; Atlas actively goes out of our way to help our companies take payments outside of Stripe, for example getting paperwork together to e.g. publish apps on the App Store.)

Re: Stripe Atlas for LLCs

#34

Post by tptacek » Mon, Apr 30, 2018, 5:37 PM UTC

This is all very cool. But: don't operate a multi-partner company in any form, LLC or C-Corp, without formal vesting. Companies without vesting are rigged to explode if any member leaves.

Re: Stripe Atlas for LLCs

#35

Post by patio11 » Mon, Apr 30, 2018, 5:38 PM UTC

freehunter wrote: post #22

patio11 wrote: post #6

Hiya folks! I worked with the team on this; happy to answer any questions you have.

Is there a way for businesses that are already registered corporations not using Atlas to get some of the other benefits like tax help, issuing stock, the expert help, etc?

We do not at present have this available, but we’re quite aware of many people wanting to do that, and we want to support it if we can figure out a way to do it fantastically.

Re: Stripe Atlas for LLCs

#36

Post by patio11 » Mon, Apr 30, 2018, 5:40 PM UTC

Shank wrote: post #28

patio11 wrote: post #6

Hiya folks! I worked with the team on this; happy to answer any questions you have.

What bank does the LLC version use?

https://www.azlo.com/

Re: Stripe Atlas for LLCs

#37

Post by woolvalley » Mon, Apr 30, 2018, 5:41 PM UTC

foobaw wrote: post #12

spamross wrote: post #7

Why Delaware over Wyoming? Wyoming has no corporate income tax and lower fees.

This! Delaware is simply the choice for most because of conventions, marketing, and (legal) history. The ideal choice should be Wyoming in my humble opinion.

Why wyoming vs nevada

Re: Stripe Atlas for LLCs

#38

Post by hamandcheese » Mon, Apr 30, 2018, 5:45 PM UTC

tptacek wrote: post #34

This is all very cool. But: don't operate a multi-partner company in any form, LLC or C-Corp, without formal vesting. Companies without vesting are rigged to explode if any member leaves.

Can you elaborate on what this means? What is formal vesting (and as opposed to what... informal vesting?) and how does not doing it make a company explode?

I’m sure I’m not the only one here who has never started a company and has no idea what this means. :)

Re: Stripe Atlas for LLCs

#39

Post by antaviana » Mon, Apr 30, 2018, 5:45 PM UTC

patio11 wrote: post #30

antaviana wrote: post #29

If the US company is going to be a fully owned child company of another EU company, which is most suitable, a C Corporation or an LLC and why?

We do not support LLCs as subsidiary of other companies, for reasons. We do support that use case for C corporations. There are complicated tax issues involved here; an accountant can talk you through them.

Isn’t Google LLC a subsidiary of Alphabet Inc?

Re: Stripe Atlas for LLCs

#40

Post by danbtl » Mon, Apr 30, 2018, 5:48 PM UTC

What would be the combined fed+state corporate income tax rate for a Delaware LLC?

Quick google says this is 21% (federal) + 8.7% (Delaware). Is my understanding of this correct, that a Delaware LLC pays 29.7% taxes on its profits?