Do you want to form a US LLC with Doola? Doola is an all-in-one online platform for all your LLC formation needs. They offer you the tools needed to set up a successful US LLC at a lower cost. Doola is trusted by thousands of clients globally, earning it a star rating of 4.9 out of 5 on Trustpilot.
The benefits of using Doola to set up a US LLC
The following are some of the key services you will get when you choose to form a US LLC with Doola.
- Free registered agent service for a year
- An EIN and operating agreement
- They will help you set up a US business bank account
- A mailing address (a virtual mailbox which is based in the US)
Their services cost $197 including state fees. Each state charges a one-time LLC formation fee.
Related: How to form an LLC in Kenya
What do you need to form a US LLC?
- A registered agent service.
- Your company names – the name should end in LLC or L.L.C. or Ltd
- A US address.
- US phone number to aid in applying for a US bank account and setting up a stripe account.
- An EIN (Employer Identification Number) for tax reporting and opening of a US bank account.
- SSN (Social Security Number) or ITIN (Individual Taxpayer Identification Number). Required if you ever need to set up a US PayPal account.
- Passport to open a bank account.
Doola will provide you with all these services to enable a streamlined LLC formation experience. You will have to work on the passport before considering creating an LLC in the USA.
Should I use Stripe or PayPal for a US LLC?
The benefit of using Stipe is that you will only require an EIN and LLC formation documents to apply, unlike PayPal which requires a US ITIN or SSN, EIN, and LLC formation documents to be approved. Stripe is a convenient option for most businesses.
Will I pay taxes for a US LLC?
Foreign Single Member LLC owners are not considered as “engaged in US trade or business”. Hence, you are not subject to personal income taxes in the US. In this case, they are not expected to fill out form 1040NR. However, the LLC is subject to a recurring annual franchise state fee.
Which is the best US state to form an LLC?
Most Doola customers choose between Wyoming and Delaware. You might wonder what is the difference between the two states.
Wyoming is the most friendly and cheap state to form an LLC for non-US residents. It has a lower annual fee of $60 and a low initial filing fee of $100. On the other hand, Delaware is suitable if you will ever desire to convert your LLC to a C-Corp. it charges a recurring annual franchise fee tax of $300 for LLCs, and a $90 initial filing fee.
Use this chart to determine which US state is suitable for LLC formation.
A state like Idaho has a zero-recurring fee, nevertheless, you must file a separate annual report which provides additional information on the LLC status and any changes in management or membership.
Other states like Nevada and Mississippi have the lowest filing fee of $50. Arizona charges a stare filing fee of $50 and a %0 recurring fee and does not require an annual report to be filled. Montana state filing fee is $35, and a recurring fee of $20 per year.
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