New Federal Requirement: Starting January 1, 2024, most business entities in the US will need to report Beneficial Ownership Information.
We are starting a new business that will be importing to the USA leather handbags handcrafted in El Salvador. The company will be formed by my sister and I, both US Residents, with a SSN but we don’t have an EIN. Which state would you recommend creating the company, in taxes matter, and also, would you recommend an LLC, Corporation or any other? Thank you so much!
Grace,
If you plan on selling to resellers and do not plan on having any physical retail location, then you could look to register in any state, such as Wyoming or Delaware.
We can certainly register either company type and obtain the federal tax id (EIN) without a problem. You can click here to compare side-by-side LLC vs. Corporation.
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