Stripe Atlas for LLCs • Hacker News Board

Re: Stripe Atlas for LLCs

#151

Post by zawerf » Mon, Apr 30, 2018, 11:18 PM UTC

sheeshkebab wrote: post #13

It sounded right until $500 part... llc setup cost is $50, bank accounts, stripe accounts are all free, same goes for any “credits” from aws and elsewhere. I understand the desire to turn a profit on this, but that’s kind of overboard, IMO.

I don't know why you put "credits" in quotes so I went to look it up. They give you $5000! Unless there's some catch this actually makes atlas free and maybe even profitable to do since I am already paying AWS for running servers already.

(Unless you're saying there are easier ways to get those free credits? Where else would you find them? Startup accelerators?)

Re: Stripe Atlas for LLCs

#152

Post by gamblor956 » Mon, Apr 30, 2018, 11:29 PM UTC

sachitgupta wrote: post #145

gamblor956 wrote: post #110

Earlier quoted context omitted.

If you don't plan on trying to raise VC money, then a local LLC is preferable to a Delaware LLC in 99.999999% of business cases. Or another way to put it: if don't plan to do business outside of Florida, why would you subject yourself to the laws and jurisdiction of another state just to save a few bucks?

> If you don't plan on trying to raise VC money, then a local LLC is preferable to a Delaware LLC in 99.999999% of business cases. Well, I do have clients and customers outside FL - lots of them. Does that make a difference?

It depends on where you plan on doing work for those clients.

Re: Stripe Atlas for LLCs

#153

Post by wilg » Mon, Apr 30, 2018, 11:35 PM UTC

nodesocket wrote: post #61

> 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…

Given this, is there any advantage (as a Californian) to having a Delaware LLC?

Re: Stripe Atlas for LLCs

#154

Post by patio11 » Mon, Apr 30, 2018, 11:37 PM UTC

fiatjaf wrote: post #147

Apparently Stripe Atlas is being used by and tailored for US residents only, which is odd.

We have thousands of users in over 125 countries, and do substantial amounts of work to ensure that we're making our services available as widely as possible.

If there is a particular thing you'd want to improve the service for folks outside the US, I'd love to hear about it -- feel free to email me at my HN name at stripe.com

Re: Stripe Atlas for LLCs

#155

Post by pbnjay » Mon, Apr 30, 2018, 11:51 PM UTC

nodesocket wrote: post #61

> 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…

Watch out - Tennessee has an 6.5% excise tax on LLCs which is essentially an income tax if you're self employed.

https://www.tn.gov/revenue/taxes/franchise---excise-tax.html

Re: Stripe Atlas for LLCs

#156

Post by mikeryan » Mon, Apr 30, 2018, 11:53 PM UTC

wilg wrote: post #153

nodesocket wrote: post #61

> 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…

Given this, is there any advantage (as a Californian) to having a Delaware LLC?

I just went through this with my attorney and lawyer and the answer was pretty much “no”

Re: Stripe Atlas for LLCs

#157

Post by throw9991999 » Mon, Apr 30, 2018, 11:57 PM UTC

patio11 wrote: post #73

philip1209 wrote: post #65

> Is designed to make conversion to a C Corporation as simple as possible. (We can connect Stripe Atlas users to a lawyer to manage the conversion process with discounted, flat-rate packages). This is the most important part. LLCs tend to be cheaper and more flexible before you raise money, but a C-Corp is basically necessary to raise money. Converting an LLC to C-Corp conversion is often quoted at about $10K from a…

$10k isn't the high end, either.

Any ballpark figure on how much it costs with Atlas?

Re: Stripe Atlas for LLCs

#158

Post by burntwater » Tue, May 01, 2018, 12:00 AM UTC

shubidubi wrote: post #116

I recently opened an LLC in NYC for $200 and took me less than an hour. All I did is to follow the (free) instructions here ( https://www.llcuniversity.com/new-york-llc/ ), was super simple and worth it. Opening a business account took me less than an hour and nowadays you can do it online.

The New York State fee by itself is $200. Unless I'm missing something, you paid significantly more than that for the publication requirement (it was around $1,000, give or take a couple hundred, last I checked).

Re: Stripe Atlas for LLCs

#159

Post by mikeryan » Tue, May 01, 2018, 12:01 AM UTC

patmorgan23 wrote: post #143

koops wrote: post #134

Earlier quoted context omitted.

Is "doing business" in California really defined as living in California? What's your source for that?

If you have a physical presence in a state you are considered doing business in that state.

Normally I’m pro simple answers but I think this answer over simplifies a bit too far. When it comes to allocating state revenue just having a presence in a state doesn’t mean as much as “where services are performed” or products sold. It’s a heck of a dance dealing with these issues some tax time.

Re: Stripe Atlas for LLCs

#160

Post by patio11 » Tue, May 01, 2018, 12:02 AM UTC

blahman2000 wrote: post #142

@patio11 does the LLC package come with a DUNS number?

It doesn't, but we help people get them on an ad hoc basis.

Mind if I make a guess? You're probably wondering "Can I get a DUNS number so that I can list something on the App Store?" if you're like 90% of people who ask us this. If so, let me just tell you now what we'd tell you in the future:

> My most recent understanding is that if they’re using the DUNS number as a part of the Apple Developer program, we should recommend that they email appdeveloper@dnb.com and they will advise you how to apply for your situation. Just let them know that you’re representing a US company trying to get a DUNS number but that you’re headquartered in [country outside of the US if that’s an additional consideration].