Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Stripe Atlas for LLCs

stripe.com

Post reply on HN
Print view View original

191–200 of 212 posts

Re: Stripe Atlas for LLCs

#191

Post by SeanLockItUp »

patio11 wrote: post #160
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 r…

Not OP but that's my only use case for the DUNS number.

Are you saying we may not need it? Or that there's an expedited / cheaper way if we're just getting it for that sole purpose?

Re: Stripe Atlas for LLCs

#192

Post by jwr »

dantiberian wrote: post #99
patio11 wrote: post #6

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

I know you’re not a lawyer/accountant, but what kinds of implications does signing up for this have on someone who doesn’t live in the US? I’m concerned about all of the secondary and tertiary effects (like FATCA?) of having a business in the US and living in NZ.

I'd say: a) if you are a US citizen, then FATCA and FBAR already apply to you, and you pay your personal income taxes on your worldwide income anyway, b) if you are not a US citizen, then I'd rather carefully consider the legal implications: your company can now easily be sued in the US, where a single lawsuit can bankrupt you.

I think (b) in particular is not considered by many who look at Stripe Atlas. I consider it a tremendous risk.

Re: Stripe Atlas for LLCs

#193

Post by jwr »

ssijak wrote: post #94

I am not a USA resident, I live in Europe (not EU zone). What would be my tax obligations to the USA if I had LLC formed through Atlas for a purpose of software SAS business (selling software subscriptions worldwide)? I know I would be obliged to pay income taxes in my country, but I don`t know if and what would I need to pay regarding taxes to the USA.

Consider the legal implications, too: if your form an Atlas LLC, you can easily be sued in the US.

Re: Stripe Atlas for LLCs

#194

Post by jknightco »

nodesocket wrote: post #183
nodesocket wrote: post #163

Earlier quoted context omitted.

-- Update: Buried deep in the depths of TN website and using the most confusing and counterintuitive language ever assembled is this article: https://revenue.support.tn.gov/hc/en-us/articles/204647155-W... Essentially it says if I am a disregarded entity for federal tax purposes I am exempt from both franchise and exercise taxes.

Ok, I am even more confused after reading this: https://revenue.support.tn.gov/hc/en-us/article_attachments/... How do you even have a single member LLC that is a disregarded entity where the single entity is a corporation? Huh? That seems to indicate I am responsible for these taxes?

LLC members can be other LLCs or corporations.

Re: Stripe Atlas for LLCs

#195

Post by zawerf »

xapata wrote: post #182
zawerf wrote: post #148

Is the LLC anonymous by default? For privacy reasons, not legal. I know I can still get subpoenaed. I just don't want my name/address associated with the company on anything public. It seems to do this I will need a lawyer to be my registered agent for mail forwarding (a regular mail forwarding service such as https://www.virtualpostmail.com/services/registered-agent/ was apparently not enough since it doesn't have a…

Delaware ain't the Caribbean.

I didn't understand the Caribbean reference which led me down a pretty fun rabbit hole trying to figure out how that world works. Apparently it's fairly common to incorporate in British Virgin Islands (and a few others like Cayman islands, Bahamas, or Panama) for international companies.

I was sincerely asking about it because of privacy and not tax reasons though.

Re: Stripe Atlas for LLCs

#196

Post by sireat »

inertial wrote: post #187

Relevant for non-residents / foreign owned LLC : https://onlinetaxman.com/us-llc-tax-haven-for-foreigners/ If you don’t have a dependent agent that substantially furthers your business in the US and don’t have an office in the US, you are not subject to US tax. Even if the LLC generates income in the US, the income is not taxed in the US. Furthermore, if you reside in a country with an applicable tax treaty with the…

When does it makes sense for a European to start a Delaware LLC?

Let's say you have a lifestyle side-business and many clients in US.

Where is the legal tax avoidance here?

You still have to report the pass-through income to your home country.

You can't just keep the money in the LLC and delay the tax?

Maybe you want to buy 10 servers in US to be used and shipped home to Europe to be used for the same business.

Would you be able to deduct those kind of expenses?

PS I had a vanity Delaware C Corp in in the 90s which I did absolutely nothing with besides getting all the cool corporate knick knacks.

Re: Stripe Atlas for LLCs

#197

Post by inertial »

sireat wrote: post #196
inertial wrote: post #187

Relevant for non-residents / foreign owned LLC : https://onlinetaxman.com/us-llc-tax-haven-for-foreigners/ If you don’t have a dependent agent that substantially furthers your business in the US and don’t have an office in the US, you are not subject to US tax. Even if the LLC generates income in the US, the income is not taxed in the US. Furthermore, if you reside in a country with an applicable tax treaty with the…

When does it makes sense for a European to start a Delaware LLC? Let's say you have a lifestyle side-business and many clients in US. Where is the legal tax avoidance here? You still have to report the pass-through income to your home country. You can't just keep the money in the LLC and delay the tax? Maybe you want to buy 10 servers in US to be used and shipped home to Europe to be used for the same business. Would…

There are many countries where Stripe etc. aren't available. Starting an LLC in USA is an easy route to get that going albeit at additional compliance cost (e.g. filing informational returns). The article above clarifies that a foreign owned LLC with no income connected with US doesn't have to pay taxes in US. They just have to pay tax in their home country. It makes it more appealing & easier to start an LLC.

Re: Stripe Atlas for LLCs

#198

Post by freehunter »

wbmstrmjb wrote: post #166
freehunter wrote: post #100

Earlier quoted context omitted.

This is in no way a criticism of anything and isn't directed at Stripe or any employee, just an honest question to the general HN community: How does Azlo make money? If I'm going to trust my accounts anywhere, I like to know at least something about their business operations. Azlo is completely fee-free according to their FAQ. They also say they require zero minimum balance and have no ATM fees at 55,000 partner ATM…

Hi @freehunter, as a fellow skeptic, I can appreciate your question as to how Azlo makes money if there are no fees. As an executive of Azlo, I can tell you that there are many ways Azlo can and will make money without having to charge fees. Some have been mentioned here (interchange and deposits) and some are coming down the pipe (lending, international payments, etc). Many accounts will be lost leaders in that thei…

Perfect, thanks! I don't mean to criticize, I just want to make sure that my bank will be able to survive and won't unexpectedly shut down. Thanks for the clarification!

Re: Stripe Atlas for LLCs

#199

Post by 4ydx »

patio11 wrote: post #6

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

I am considering starting an LLC but I live and work in Japan. Do you know somebody who might be able to help me understand what my options are in terms of tax implications (the interaction of having income in both places)? This will be a sole proprietorship.

Re: Stripe Atlas for LLCs

#200

Post by patio11 »

4ydx wrote: post #199
patio11 wrote: post #6

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

I am considering starting an LLC but I live and work in Japan. Do you know somebody who might be able to help me understand what my options are in terms of tax implications (the interaction of having income in both places)? This will be a sole proprietorship.

We should chat! My email is my username at stripe.com
Post reply on HN