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Thread: LLC and DBA

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    Default LLC and DBA

    I've been searching the archives but I do have a specific question, I am dominatrix and I want to start accepting payment underneath my stage name. Would it be better to set up a LLC and then put a DBA underneath of it ? Also would you call it sales and marketing or entertainment on paper. Are there any rules on DBA like can I literally write Miss XYZ as my DBA or..

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    Default Re: LLC and DBA

    An "Assumed Name Certificate" is the correct term for what people usually call a DBA. In my jurisdiction is filed with the county clerks office usually but not necessarily using a form the clerk provides. No one checks them for accuracy and many of the ones I have seen are wrong.

    The assumed name certificate may be sufficient to allow you to set up a bank account in that name.

    Be aware there are a lot of websites that will sell you a corporation or LLC. Most of what they tell you about the advantages of a corporation/LLC is not exactly true. The forms can usually be obtained free from the state.
    Last edited by slowpoke; 12-30-2017 at 07:46 AM.

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    Default Re: LLC and DBA

    Thanks,

    I have a corporation under my name for a vanilla business but its in a total different industry hence why I was interested in an LLC to kind of separate myself from that line of work etc. I was thinking a parent company with my DBA/assumed name certificate would make me feel I have a stronger level of privacy when taking payments.

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    Default Re: LLC and DBA

    If you have an assumed name certificate, depending on your jurisdiction, someone may be able to look it up online to see who owns it, or may have to go to the courthouse. If the assumed name is owned by your corporation, pretty much every state has corporate information online

    A lot of corporate information is available from Corporation Wiki, and you don't have to search each state.

    https://www.corporationwiki.com/

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    Default Re: LLC and DBA

    ^^this - if anybody really looks it is all there.
    Where am I? Roma


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    Default Re: LLC and DBA

    In Delaware, an LLC can be set up anonymously. Someone also suggested Wyoming as a good state to set it up. For tax purposes, I think you can set up an llc and treat it as an s-corp. I'm seriously of doing it next year at the start of 2018.

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    Default Re: LLC and DBA

    It is an unusually simple form, but you still have to sign it.

    http://corp.delaware.gov/LLCFormation.pdf

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    Default Re: LLC and DBA

    Quote Originally Posted by ZeroSugarMonster View Post
    I think you can set up an llc and treat it as an s-corp. I'm seriously of doing it next year at the start of 2018.
    You might want to think again. If an LLC is a corporation, it will not, by definition, fail the test for being a corporation. Once your LLC does not fail the test, it is a corporation. Since the tax rates for a sub-S corp. and an LLC are the same, there is no reason to have one over the other and certainly no reason to pay for both. Just pick one.

    HTH
    Z

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    Default Re: LLC and DBA

    An LLC is not a corporation. Delaware likes to blather about how corporation friendly it is, but if you ever have to deal with Delaware you will soon come to hate it.

    Here are some forms.
    https://www.sos.state.tx.us/corp/forms_boc.shtml

    And some discussion.

    https://www.sos.state.tx.us/corp/bus...tructure.shtml

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    Default Re: LLC and DBA

    Quote Originally Posted by slowpoke View Post
    An LLC is not a corporation. Delaware likes to blather about how corporation friendly it is, but if you ever have to deal with Delaware you will soon come to hate it.

    Here are some forms.
    https://www.sos.state.tx.us/corp/forms_boc.shtml

    And some discussion.

    https://www.sos.state.tx.us/corp/bus...tructure.shtml

    Thanks! Amazing info.
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    Default Re: LLC and DBA

    Quote Originally Posted by slowpoke View Post
    An LLC is not a corporation. Delaware likes to blather about how corporation friendly it is, but if you ever have to deal with Delaware you will soon come to hate it.

    Here are some forms.
    https://www.sos.state.tx.us/corp/forms_boc.shtml

    And some discussion.

    https://www.sos.state.tx.us/corp/bus...tructure.shtml

    It sounds almost too good to be true. You can be a resident in another state.Yet have an LLc in Texas?
    You can't reason with stupid!
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    Default Re: LLC and DBA

    Quote Originally Posted by Nyla19 View Post
    It sounds almost too good to be true. You can be a resident in another state.Yet have an LLc in Texas?
    I had an LLC in TX. I used a virtual office address and opened the bank accounts online with BOA once I had my EIN (tax ID number for those who do not know). I even had a merchant account with virtual terminal, though this was for a vanilla business and I never had a single charge back.

    There's a lot of very good advice here, and just to piggy back on what has already been said, it depends what state you are in. I would start a new LLC altogether to separate it from the one you already have for anonymity.
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    Default Re: LLC and DBA

    Yes, you can be a resident of one state but have an llc in another.

    Seriously, I have so much to think about on this topic but I think it's about damn time I set one up for myself, so that I can stop telling people I'm self-employed/sole-proprietor and still, get asked for biweekly, pay stubs.

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    Default Re: LLC and DBA

    Quote Originally Posted by Gia2608 View Post
    I had an LLC in TX. I used a virtual office address and opened the bank accounts online with BOA once I had my EIN (tax ID number for those who do not know). I even had a merchant account with virtual terminal, though this was for a vanilla business and I never had a single charge back.

    There's a lot of very good advice here, and just to piggy back on what has already been said, it depends what state you are in. I would start a new LLC altogether to separate it from the one you already have for anonymity.

    Ooh! Thanks Gia2608. Very helpful! Something I will run past my lawyer,
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    Default Re: LLC and DBA

    Quote Originally Posted by Nyla19 View Post
    It sounds almost too good to be true. You can be a resident in another state.Yet have an LLc in Texas?
    Sure, why not? Texas tries to be business friendly.

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    Default Re: LLC and DBA

    They're Snake friendly

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    Default Re: LLC and DBA

    Hmm I might consider opening one in another state as I currently have one in DE, but my senses keep telling me to go ahead and separate to my LLC in general.

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    Default Re: LLC and DBA

    Quote Originally Posted by MissGD View Post
    I've been searching the archives but I do have a specific question, I am dominatrix and I want to start accepting payment underneath my stage name. Would it be better to set up a LLC and then put a DBA underneath of it ? Also would you call it sales and marketing or entertainment on paper. Are there any rules on DBA like can I literally write Miss XYZ as my DBA or..

    I know it gets tricky and many will say that you should definitely get an LLC but honestly it all depend on how you conduct business and how much business to be honest. Take a look at this article advising models and performers on the decision to become an LLC. Cammodel Mythbusters Do I Need An LLC?
    Last edited by PhatGirlDynomite!!!; 12-29-2017 at 11:24 PM.

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    Default Re: LLC and DBA

    Quote Originally Posted by PhatGirlDynomite!!! View Post
    I know it gets tricky and many will say that you should definitely get an LLC but honestly it all depend on how you conduct business and how much business to be honest. Take a look at this article advising models and performers on the decision to become an LLC. Cammodel Mythbusters Do I Need An LLC?
    This helped a lot, I think I will probably need to do it in the future once I get a more concrete handle of how much I pull in it. But my profit was one of the reasons why I also started to consider that for tax purposes. But once again THANKS this really made things more simple

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    Default Re: LLC and DBA

    At the end of the day whatever structure you choose, you need a Federal tax ID number, and that will give you the first layer of separation. All checks written and form 1099's will be to that tax number, not your SSN. Delaware etc will allow you to prevent casual people from figuring out who owns that tax ID.

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    Default Re: LLC and DBA

    This post is so helpful, thank you! I've bookmarked a bunch of the links on here

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    Default Re: LLC and DBA

    Its late posting but you can have your vanilla corp incorporate as a single member LLC and have it manager managed and list you as manager

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