[ARCHIVED THREAD] - llc question

Posted: 10/10/2008 5:03:26 PM EDT

I realize this will probably vary from state to state, but are there and business requirements to have an LLC? Basically what I want to know is if I go the LLC route, establish it, and never do anything with it except buy NFA stuff, will the ATF go ruby ridge on me, or is there nothing they can do. Basically I want to know if you actually have to do business with an LLC.

Posted: 11/2/2008 6:45:53 PM EDT

[#1]

No, you do not have to do business with your LLC. It can be a holding company. Get the 'Limited Liability Companies for Dummies' book. It explains everything plainly.

Shane

Posted: 11/2/2008 7:12:38 PM EDT

[#2]

here in South Dakota you have to file your sales tax every so often and there is a minimum amount due every month. Plus personal tax liabiltys.

Posted: 11/2/2008 8:26:44 PM EDT

[#3]

Here in Utah and back in Georgia when I lived there, you do not have to file a tax return and there is NO tax liability if your LLC is just a holding company for NFA items. All you need to do is make sure your LLC is current every year. Like it has been said above, it may be different for every state. All you need to do is go on your states government web site and look up LLCs and you will find everything you need to know. In my state it costs $52 to set up your LLC and $12 per year to keep current.

MadDog