What is an LLC ? - Limited Liability Company

[@HowtostartanllcOfficial]

We Recommend using Northwest to form your LLC which includes 1 year Free Registered Agent Service. 💼 Northwest 75% 𝗗𝗶𝘀𝗰𝗼𝘂𝗻𝘁 link - go.truic.com/45wKVe7 (paid) ($29 + state fee) 📙 Read our free "What is an LLC?" guide : howtostartanllc.com/what-is-an-llc 🚀 Learn How to Form an LLC here: howtostartanllc.com/form-an-llc 🏷️ Check out our Business Name Generator to make a great name for your LLC go.truic.com/3JJMdY6 (paid)

[@romanshubin4]

You just earned a new subscriber

[@jewelrobinson4524]

I cried when I watched this because I was so confused and now it looks so clear. Thank you. I will share this because more people need to see this.

[@hczylos2432]

You’re not getting anywhere, if your response to the unknown is an act of cowardice… who the fuck cries cause they don’t understand something. 😂

[@andrewparks751]

You cried?

[@remainOne2C]

👍👍👍👍👍

[@Fjdhskskjd]

@@andrewparks751 me too 😅

[@GIacius]

🤔🤨

[@ELISHACAEZ]

It's sad to see that there are so little views and so little comments on this video, Just goes to show that people don't want to achieve more and/or don't know how to do it Guess that's why we will be so successful :/

[@animetrash9110]

people have different careers my guy

[@estherchapoval2730]

@@animetrash9110 .

[@noahschroder9756]

Lol that's such a stupid take wtf

[@vababy45]

Covid 19 is an LLC

[@celestecarrazco4357]

How’s your business going Elisha 😁

[@ijeomaemenanjo1758]

Staring my journey today on my entrepreneurial dreams. Thanks for the details

[@KingFish24747]

How’s that going

[@KhalidAli-rm4ez]

How’s it goinf

[@marvarlenesshop7672]

Good luck !!!!!

[@rickmccoy60]

I wish you all the best. And stay strong 💪 and remember not to give up because of one failure try and try until you succeed 💯

[@amyfarrel4374]

Hows it going?!

[@SpunkyJT-tn4wc]

took me longer than 7 minutes to get all that into my head lmao.

[@hamradiocq]

It's not you, there is slurring of words going on.

[@MXCHINO18]

The more you look over the more sense. Take your time

[@travisray5487]

This is great information. I filed on my own, have an operating agreement, EIN, separate business account, and have worked out my state taxes. This is a very helpful video. I’ll be sharing it with my friend who is interested in starting her LLC.

[@HowtostartanllcOfficial]

Thanks Travis! Glad to see you starting your entrepreneurial journey, we are so excited for you! Glad you enjoyed the video and thank you for sharing with your friend.

[@kailynisblessed9563]

Can you give me some advice and/or tips about filing taxes? I’m about to start and I’m really nervous about the taxing part.

[@HowtostartanllcOfficial]

Hello, sorry we missed this message. Were you able to file taxes confidently?

[@PlagueKing_LordFalix]

Very clear video. Now I just have to watch it 50 more times for it all to stick.

[@hilariogomez8049]

😂🤣🤣

[@Cindyluo100]

Same same 😅😂🥲

[@levrai944]

Same 😂

[@aspire081989]

Thank u so much..for a 7 minutes..this is more than enough

[@HealthyBodyForLife]

Just filed my first LLC. Thank you! Wish me luck! :D

[@HowtostartanllcOfficial]

Best of luck!

[@mdelatorre1177]

Barbz, I think Im streaming the wrong LLC song

[@queenc2209]

Ayooo 🦄🦄🦄🦄🦄🦄

[@mdelatorre1177]

@@queenc2209 im outside US so my streams won’t count😭

[@queenc2209]

@@mdelatorre1177 me too girl

[@NinaDidnothingwrong]

AHHAHA

[@youlovemelix33]

This video is perfect I started a partnership recently so I’m trying to see if an LLC or an LLP is a better option. Wish I found this video when I took business law 😭🤦🏽‍♀️

[@shammaalali352]

what is llc "?

[@waddaeck2129]

@@shammaalali352 watch the video

[@crecenciolozano9099]

I was reading my classroom text, and was having trouble- I guess I'm more of a visual learner. Your video helped a lot, thank you.

[@simonbell8957]

Wow. I never heard anybody explain it so well. Thank you

[@com_shawyan]

The straight-forward resource I found on LLC. Deserves many likes!

[@blakelydonut8960]

my dad gave me this as an assignment and this video helped so much thank you

[@mrmusic1961]

Glad I looked at this. Made up my mind to start my own business.

[@Aj-rh8et]

LLC is a song by Nicki Minaj on her album “queen”

[@investbig3760]

Thank you very much for the treasure that you are sharing public much appreciated ☺️🙏🙏✌️

[@ExploreImagineDefineCreate]

3:31 (This is a timestamp for me, ignore it)

[@avigeeky]

I think this video was truly informational and helped me understand greatly compared to when I started the video. Thank for this and I pray my brand will only go up from here. I will still do more research to gain more knowledge on what i need but thank you for bringing clarity to what an LLC essentially means.

[@HowtostartanllcOfficial]

You're so welcome!

[@antwionwatson6440]

We love you guys to send more KZbin videos the information is very helpful

[@HowtostartanllcOfficial]

Glad you guys are enjoying the content! We are very busy pumping out new videos, stay tuned! :)

[@LIfeisAdorbz]

A TRUE BLESSING !!! THANK YOU FOR ALL YOU DO, ALL YOU HAVE DONE, AND ALL YOU WILL DO. We greatly appreciate you. God bless (;

[@HowtostartanllcOfficial]

Thank you so much! Nothing makes us happier than to hear something like this from a viewer. Please let us know how else we can help!

[@DarkModeoficial]

Man I always had trouble understanding this but it took me 5 videos like this to actually know how business structures work . And which one is the best

[@egyolks2653]

Thank you fro the information! It's time to rise!

[@BrandonAhmaud]

This series is very helpful and easy to understand. I'm going to form an LLC this week. Thanks!

[@hpj2146]

How did it go?

[@BrandonAhmaud]

@@hpj2146 it went great.

[@ricksonpimentel6880]

What a great content. You have just saved me so much time and answered so many questions. Appreciate it TRUiC!!!!!

[@HowtostartanllcOfficial]

Glad to help! Thanks for watching!

[@IsaiahGrassMusic]

Great video. Thank you for taking the time to prepare such easy-to-understand guidelines for people like me. Great job guys!

[@junaid8136]

Thank you sir, from India 🇮🇳

[@HowtostartanllcOfficial]

You're welcome! 😊

[@RRPartnersBucharest]

Great to hear about systems around the world, in Europe it is quite similar 👍👍

[@mohammadqutob9549]

what's the difference in Europe

[@CrystieBabez06]

THIS WAS SO WELL DONE! THANK YOU!

[@giovannifigueroa6307]

This has helped with my small business management course. Thank you.

[@rebeleazy9221]

Great video! Very well narrated.

[@HowtostartanllcOfficial]

Thank you!

[@Surferjo]

great video ty I subscribed this makes it easier then it was long ago when I had my own buss......

[@doublexpgaming4193]

Thank you for this!!!

[@orionverduijn5539]

you just earned a subscriber and like because of this wonderful video

[@rolfmetzger4252]

Very nice for the basics. Thanks so much for sharing. I will definitely be checking out your web site.

[@tumihouse9599]

thank you for sharing this great information i will like to apply for LLC on this months 👍

[@doglao1236]

Thank you, I am wanting to open a carpentry business in the state of south carolina, this information was very useful for me.

[@HowtostartanllcOfficial]

Happy to help! When the time comes, you can use our How to Start an LLC in South Carolina page to get started: howtostartanllc.com/south-carolina-llc Or use a professional service for only $29 plus state fees: go.truic.com/3PAsy1O

[@doglao1236]

@@HowtostartanllcOfficial Thank you, I will go to this page to study the topic. I have a partner who will work with me in SC, and if necessary I will contact your service.

[@andrewpalacios1363]

Hey, this video really helped . Keep it up!

[@MsHinds-cp1oq]

Thank You for making this so easy to understand🎉🎉🎉

[@mosmitty3332]

very helpful information thank you for sharing!

[@HowtostartanllcOfficial]

Anytime! Thanks for the comment!

[@kristiehickman1588]

Oh my god thank you I'm trying to start a pool cleaning business this helped so much.

[@HowtostartanllcOfficial]

We're so glad that we could help! If you need help forming your pool cleaning business, check out our guide: howtostartanllc.com/business-ideas/pool-service?ref=ytwllc

[@nikkasmith4653]

Very informative, thank you for taking the time to create an educational video that we can learn from. I found the website first then KZbin came second!

[@HowtostartanllcOfficial]

Glad that both have been helpful!

[@Karim-lz1kr]

Very informative video thanks.

[@HowtostartanllcOfficial]

Glad you liked!

[@jenniferduguay5776]

Just FYI, "maintenance" is misspelled towards the beginning of the video. It was very informative though! Thanks.

[@robotman011]

Damn. This is really well made!

[@BobbiHustles]

Thanks for the info!

[@evansfevlo]

Great Presentation. I Loved it 😍

[@mdkamalhosen-9803]

Go ahead

[@tactextile9857]

Hi, first of all thanks for the video. I have got a question, i would be great if you could help me. So i created an LLC company in January 2023, when do i need to file taxes and stuff. AND FORMS SUCH AS IRS 1120 and other forms that are supposed to be filed. Thank you in advance

[@HowtostartanllcOfficial]

The forms that an LLC files depend on the LLC’s tax classification. For tax purposes, the LLC may be treated as either a corporation, a partnership or a disregarded entity. To file a tax return, a corporation will use Form 1120; the owner will use Form 1040. A partnership will use Form 1065; the owner will use Schedule K-1 and Form 1040. A disregarded entity-the owner and the business are one and the same-will use Form 1040. Also, in general, business entities make estimated tax payments quarterly. For that purpose, a corporation uses Form 1120-W. Partners and sole proprietors use Form 1040-ES. Please note that the information provided by us is not, and it is not intended to, constitute legal advice or tax advice. All content is exclusively provided for educational purposes. For the most up-to-date legal advice, we advise deferring to a professional attorney or certified public accountant.

[@marye.steele7823]

Thank you and wish me luck!

[@HowtostartanllcOfficial]

Good luck!

[@martinavilla1286]

Thanks a lot for sharing this video :)

[@bonniehoke-scedrov4906]

Thank you!

[@gibbonholder3274]

Ras House Music 🎶 Laborie Beach ⛱️ St Lucia

[@PAPOxLOKOxTV]

Great video

[@HOWEYE]

very helpful

[@roxannebernot3602]

HI! I am using Tailor Brands formation service to form my LLC. I am completing some information and need clarity on a question asked. The question asks if my LLC is a Master Series LLC. I am not familiar with this term. What is the difference between a regular LLC and a Master Series LLC? How do I determine if my business is a Master Series LLC? This is my first business. Thank you!

[@HowtostartanllcOfficial]

A Master Series LLC is an LLC under which other LLCs, called “series”, are created. A master series LLC is the holding or parent company that owns the series or subsidiary companies. Not many people form series LLCs with master LLCs-- it's rare. Not all states allow such a business structure-Delaware was the first-and in the states that do the laws differ. Generally, a series is not a separate legal entity but, notably, its liabilities are its own. A creditor cannot sue one series for the debts of another.

[@roxannebernot3602]

@@HowtostartanllcOfficial Thank you so much for your detailed explanation. This was very helpful.

[@nakiasibert980]

The video was helpful

[@danceforpeace]

Good one. Thank you

[@raymondelsayed4445]

Okay but what if your an LLC and someone gets hurt in your store then what

[@HowtostartanllcOfficial]

General liability insurance is designed for situations like that. If you run a store that’s open to the public, it’s a good idea to have insurance that covers accidents so that you protect your business' assets. General liability insurance may also cover property damage, costs of defending a law suit, or a claim that a concept, or idea you’re using belongs to someone else. Moreover, the limited liability of an LLC will ensure that your personal assets (e.g., bank account, house, etc.) are also protected. Keep in mind that this liability can be voided if damages arise as a result of tort or negligence-related claims. Please note that the information provided by us is not, and it is not intended to, constitute legal advice or tax advice. All content is exclusively provided for educational purposes. For the most up-to-date legal advice, we advise deferring to a professional attorney or certified public accountant.

[@hannahsharma5108]

Thank you for sharing the information!

[@NinaDidnothingwrong]

I seached llc by nicki minaj and this popped up🥵🥵

[@AnthxnyTrxn14]

📈

[@olisaebukavincentiloabachi2088]

Thank you 🙏🏾

[@doutlaw63]

Question... In NY would I have to pay for an LLC and then pay for my business to get registered?

[@HowtostartanllcOfficial]

To register your LLC in New York, you will need to file your LLC's Articles of Organization. There is a state filing fee. To learn more about forming an LLC in New York, read our free guide: howtostartanllc.com/new-york-llc

[@StevenElCuy]

thank you!!!

[@HowtostartanllcOfficial]

You're welcome! Thank you for watching.

[@rones6349]

thanks for helpful content🎉🎉🎉

[@HowtostartanllcOfficial]

Thank you for watching!

[@wolfassassin6938]

I make music with a couple people we are trying to form a crew. Is this what we need to be officiall? M

[@HowtostartanllcOfficial]

Thank you for commenting! While it is not required, we do recommend registering your band as an LLC. This can protect your band in the event of any lawsuits and provide some tax benefits. Learn more about starting your live band here: howtostartanllc.com/business-ideas/band

[@kakrot9516]

I live in Wa but want to start a business airbnb in Vegas. Do i file business under Wa or Nevada??

[@HowtostartanllcOfficial]

In general, any advantages to be derived from filing either in WA or NV depend on factors such as the difference in the tax regime, formation fees, laws relating to limited liability, etc. Someone who lives in WA and registers and operates a business in NV may still be required to file in WA if the business has a physical presence nexus in WA, which could be one employee, i.e. the owner. If the owner is managing the property from Washington, then technically, a WA LLC would be required. On the other hand, if the business is registered in WA, to operate in NV it would need to be registered in NV. Registration is likely to be required in both states. One LLC could be considered primary where as the other would be a "foreign LLC". We recommend consulting with an attorney to find the best scenario for your unique situation.

[@SydneyScream]

Very well done !

[@codegaming_yt7704]

Been doing self employed Landscaping going on year 3. I have had a few guys working but really wanted to get legit and protects my assets. Is it ok to just have 1 to 2 official employees ?

[@voodooqueen7914]

Thank you

[@tvbuu]

thank you

[@manongzki5817]

Is the doctrine of piercing the veil of a corporate entity applies to LLC?

[@HowtostartanllcOfficial]

Thanks for the question. Yes, LLCs have a corporate veil. Protecting your LLC's corporate veil can help ensure that your personal assets remain protected by limited liability.

[@malayshah5170]

Hello Can anyone please tell me whether Audit is required for LLC if its incurre loss in year ??

[@almabarajas2055]

gracias por tu rapida eficaz informacion :]

[@racheletesami5647]

Does anyone know if a marriage and family therapist with a private practice needs an local or a different kind of business credential? I am about to for my masters in MFT and I’m curious.

[@naqivlog]

Nice video

[@togarubalaraju4731]

I trusted to join how can I join av. Reddy garu

[@ailathomas]

Great video!

[@maditationmusic986]

Very helpfull video

[@AnjonLimbu]

Can I do international partnership with LLC ?

[@HowtostartanllcOfficial]

In general, there is no legal restriction on an LLC being a partner in a partnership even where the partnership has foreign partners. Note, however, that the partnership may have an obligation to report and pay withholding tax: www.irs.gov/individuals/international-taxpayers/partnership-withholding If the partnership has taxable income connected with trade or business within the U.S. and part of that is allocable to its foreign partner(s). Please note that the information provided by us is not, and it is not intended to, constitute legal advice or tax advice. All content is exclusively provided for educational purposes. For the most up-to-date legal advice, we advise deferring to a professional attorney or certified public accountant.

[@investbig3760]

Thank you very much for the guidance✌️✌️ very helpful 😊 By the way I would like to figure if you're provide legal advice about which type of LLC will be suitable for non US citizen?? Warm greetings from Morocco

[@HowtostartanllcOfficial]

We are currently working on a whole new set of content for non US citizens. We will let you know when it is ready! In the meantime check out our "How to Open a Company in the USA" page: howtostartanllc.com/open-a-company-in-the-usa?ref=ytwllcc

[@investbig3760]

@@HowtostartanllcOfficial thanks for the feedback kind regards

[@nekklp4376]

Here to fully understand what Nicki is talking about.

[@Ben-vk9zf]

If I purchase an LLC for my small lawn mowing business route do I still need to purchase a city court County business license?

[@HowtostartanllcOfficial]

Yes, if a business license is required for your type of business, then you will still need a license, even if you have an LLC. An LLC is a business structure. An LLC is created by business owners to protect their personal assets in the event that a business is sued. We highly recommend an LLC for lawn care. A business license, on the other hand, is like a driver's license for a business. It says you have done what it takes to operate your type of business, in your area and in some states, business licenses are used to keep track of businesses for taxation, etc. To learn more about starting an LLC for a lawn care business, check out our guide: howtostartanllc.com/should-i-start-an-llc/lawn-care-business?ref=cc

[@AZITHEMLGPRO]

Yea what he said

[@jeramiahpiolo3480]

Is there any entrepreneur here cause I’m really interested in becoming one and owning a clothing brand and I’m only 18 and I just wanna know what I’m getting into?

[@HowtostartanllcOfficial]

Hey Jeramiah! This guide will give you the steps to start a clothing brand : howtostartanllc.com/business-ideas/clothing-line

[@gregorydessingue5625]

Recommend correcting "maintance" 1:54

[@quailgod7251]

I have to have my own business to get LLC?

[@Blacksican9]

Whay books are you currently reading?

[@mdkamalhosen-9803]

nice video

[@HowtostartanllcOfficial]

Thank you!

[@nonequivalence1864]

Hey I have a question: I've setup an LLC here in NY. Is it legal for me to do business in another state even though my LLC's registered here in NY? I've opened up a real estate business and would like to do some remote fix & flips as well as get in the practice of being adaptable in this remote world. I've looked this up online but keep getting mixed answers. Thanks for taking the time to read 🙂.

[@HowtostartanllcOfficial]

The laws for doing business as an out-of-state LLC vary depending on the state. However, it is likely that an NY LLC that buys, renovates, and sells property in states other than New York must register as a foreign LLC in those states. We recommend checking each state’s specific laws and consulting an attorney for registration requirements.

[@swinger2]

so when you say keep personal and business transactions apart does that mean i have to make a bank account just for my business? I film and edit videos for people and just get paid into my personal account.

[@amiya3219]

Yes, please create your business checking account with one of your local banks that offer business products.

[@gabrielleon1121]

I'm still a bit confused. I'm planning on buying a 4plex to live in and house hack. Would I need a LLC for that? If so, please explain why. Thanks

[@snsxstealth4370]

LLC’s are basically insurance for whatever cash flow you may receive, You don’t technically need one to become a landlord, but it does protect you from being personally sued in the event someone is injured on your property, as well as the tax benefits that come from owning an LLC in regards to real estate.

[@holdmybags]

Good info but the music in the background is way distracting...

[@pinocoolin]

For an ATM BUISNESS u need one of these I'm guessing

[@kingguapo100k3]

Do u have to have a LLC to get a sba loan?

[@matthewede7282]

Would you recommend a multi-member llc where profits go to the members? Is this a good idea for taxes?

[@HowtostartanllcOfficial]

Choosing the right business and LLC structure is going to be dependent on what your needs are. Check out our guide on LLC Partnership Taxes, which describes a tax breakdown of multi-member LLCs: howtostartanllc.com/taxes/llc-taxes/multi-member-taxes?ref=ytllc

[@Freddyjuarez485]

what is the difference betwen DBA or self employee and LLC ? thank you

[@HowtostartanllcOfficial]

Check out our article to learn more about the difference between a DBA and an LLC: howtostartanllc.com/form-an-llc/dba-vs-llc

[@sidmichael1158]

Does this work outside US?

[@HowtostartanllcOfficial]

It sure does! If you want to start a business in the USA from elsewhere, check out our free written guide here: howtostartanllc.com/open-a-company-in-the-usa

[@victorq5309]

Use stripe Atlas they make ur business in Delaware