Anyone know what is the total cost of Striple Atlas? What others cost beside the $500 one time fee? Will really appreciated some breakdown numbers
Stripe Atlas for LLCs
81–90 of 212 posts
Re: Stripe Atlas for LLCs
#82> Is organized in Delaware, the jurisdiction of choice for many new LLCs. Be aware that if you are "doing business" in California which means you live there you also have to file as a California foreign entity and pay the absurd anti-small business flat tax of $800 a year. This also does not include your state income tax liabilities in California. Just because the LLC is formed in Delaware does not mean you don't hav…
This is very important info. I've seen some founders get tripped up over this. Hopefully Stripe Atlas LLC provides support for foreign entity registration and taxes too (I would assume they do).
We don't yet foreign entity registration in the product, but you could imagine us automating this, in addition to the Delaware franchise tax filing and registered agent services which we already handle.
Re: Stripe Atlas for LLCs
#83Earlier quoted context omitted.
Yup, I'm working with an accountant to better understand what's going on. Last year I was in a grace period but this year I'm going to have to file. Luckily it's just me, no employees and no cofounder to worry about. But man tax law is complicated and I don't like not knowing every part of what I'm doing.
Part of the reason I started working at Stripe is that I remember going through exactly this and it freaking sucked. Building a product and finding customers for it is hard enough without also having to cross-class as an expert in international taxes of software sales. (Drop us a line if you need a referral to an accountant; we can introduce you to an accountancy that works with a lot of Internet businesses. We also…
Out of curiosity, are you guys thinking of something like an UpCounsel for startup/technology-focused accountants?
Re: Stripe Atlas for LLCs
#84Anyone know what is the total cost of Striple Atlas? What others cost beside the $500 one time fee? Will really appreciated some breakdown numbers
https://stripe.com/atlas Ctrl-F for "ongoing costs"
It's impossible to give you a fully inclusive quote without knowing more of your situation, and I'm not qualified to comment on e.g. tax consequences for you if you live outside the United States, but broadly speaking the total cost of ownership ranges from about $1k to about $2k depending on circumstances (C corp vs LLC, number of founders, whether founders are US-based or not, etc). This includes annual costs for Delaware taxes but doesn't include e.g. corporate or personal income taxes.
Re: Stripe Atlas for LLCs
#85Earlier quoted context omitted.
>if any member leaves. This brings up a very interesting issue under the Delaware Limited Liability Company Act, that is without an Operating Agreement in place that allows a Member to resign their ownership, the Delaware Law is controlling and does not allow a member of a multi-member LLC to withdraw (resign their interest) prior to dissolution and winding up of the company. One may be able to get the other member(s…
> it doesn’t appear the Stripe Atlas LLC comes with an operating agreement I'm 100% sure it does. The description talks about things like being split into 10,000,000 units, for example, which is definitely not in the Act.
Yes, after Patio11 replied I clicked on the guide and there is reference to a stock operating agreement drafted by Orrick.
Their Operating Agreement is drafted so the resigning member would require unanimous consent of all the other members to resign.
Re: Stripe Atlas for LLCs
#86Earlier quoted context omitted.
Part of the reason I started working at Stripe is that I remember going through exactly this and it freaking sucked. Building a product and finding customers for it is hard enough without also having to cross-class as an expert in international taxes of software sales. (Drop us a line if you need a referral to an accountant; we can introduce you to an accountancy that works with a lot of Internet businesses. We also…
Out of curiosity, are you guys thinking of something like an UpCounsel for startup/technology-focused accountants?
We have a number of accounting firms which we work with that we refer Atlas customers to. This lets us explain the Atlas concept once, prepare the firms for "You're going to have a high volume of companies who will often have the same set of issues so let's research and brief those in advance", build out tools to assist with information gathering, etc.
It also lets us help refer companies to accountancies whose sweet spot most closely corresponds to the facts of the company.
Re: Stripe Atlas for LLCs
#87If you want to run a remotely lean organization, spending $500 to incorporate your LLC is not starting off on the right foot.
Sorry, but lean and cheap aren't synonyms.
As an example, a pal once worked for some medium-sized company where if you wanted a new pencil, you go down to the basement and through a long hallway to a window. At the window you had to confront the Dragon of the Office Supply Horde, and to prove your worthiness, you had to bring a sufficiently used existing pencil. That company was definitely cheap, but was very much not lean.
Toyota, on the other hand, is the classic lean company. When they don't need to build cars, they don't lay people off or send them home, which would be the cheap thing to do. Instead, they have them clean, polish, train, and generally improve the plants and themselves. They spent extraordinary sums building the first Prius prototype, which could barely get around a track. But they kept on improving it, eventually making one of the world's best-selling cars and making them a leader in a new market.
Spending $500 to incorporate a startup may not be cheap, but it certainly can be lean if you determine that the investment in learning how to correctly do the legal and financial dance will not have as much ROI as paying for it to happen and focusing instead on building the actual business.
Re: Stripe Atlas for LLCs
#88Anyone know what is the total cost of Striple Atlas? What others cost beside the $500 one time fee? Will really appreciated some breakdown numbers
https://stripe.com/atlas Ctrl-F for "ongoing costs" It's impossible to give you a fully inclusive quote without knowing more of your situation, and I'm not qualified to comment on e.g. tax consequences for you if you live outside the United States, but broadly speaking the total cost of ownership ranges from about $1k to about $2k depending on circumstances (C corp vs LLC, number of founders, whether founders are US-…
FYI, there seems to be some disparity on two different pages:
On https://stripe.com/atlas: Delaware tax filing: preparation is free, Delaware fee starts at $225
On https://stripe.com/docs/atlas/tax-obligations: All LLCs formed or registered in Delaware must pay an annual LLC tax, currently at a flat rate of $300.00.
Re: Stripe Atlas for LLCs
#89Earlier quoted context omitted.
https://stripe.com/atlas Ctrl-F for "ongoing costs" It's impossible to give you a fully inclusive quote without knowing more of your situation, and I'm not qualified to comment on e.g. tax consequences for you if you live outside the United States, but broadly speaking the total cost of ownership ranges from about $1k to about $2k depending on circumstances (C corp vs LLC, number of founders, whether founders are US-…
FYI, there seems to be some disparity on two different pages: On https://stripe.com/atlas : Delaware tax filing: preparation is free, Delaware fee starts at $225 On https://stripe.com/docs/atlas/tax-obligations : All LLCs formed or registered in Delaware must pay an annual LLC tax, currently at a flat rate of $300.00.
Thanks; will correct.
Re: Stripe Atlas for LLCs
#90Earlier quoted context omitted.
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.
Unlike C-Corps, incorporation for LLCs is trivial. The real value prop for Atlas is everything that comes after!
I just did my own LLC in MI, too—two hours and $50.