,I am am based in the UK, and about to start a new business in the US. I am the founder, but I am working with two friends to get the business started. However, neither are founders.
I have been thinking about the various structures my business can have. LLC, Partnership etc. However I am not sure which one will be most suitable for my business, in both structure, legal requirements and tax responsibilities.
I have done quite a lot of research and I am leaning towards LLC. However, will this enable me to be the sole founder with different levels of employees? In this case, myself the founder, and two directors.
In terms of taxation, I understand that as an LLC, tax is paid out individually by each member/owner. I slightly understand this point, but it has not been made clear on the sources I've read.
My business will have an investment capital of $1m, 1 founder, 2 employees (all UK - British Citizens with no US affiliations or US based familial contacts), technology software-as-a-service product, based in Palo Alto or San Francisco.
Please let me know of any information you may require to help me with my queries.
Just to let you guys know, I will be visiting experienced individuals to ensure everything is done perfectly correctly. But for now, I would just like a basic overview of the different options available to me.
Thank you in advance!
