LLC & Domain Names? - DNForum - Domain Sales, Domain Forum, Domain Appraisals, Domain Registrars

**iBizStart** · 07-02-2003, 02:54 PM

I want to form an LLC
The problem is, usually they have to be for a specific business. I have a lot of websites and want the LLC to apply for all of them

Can I just form an LLC called "Byalik LLC" (my last name)
And on each website, put a statement on the bottom of the page
(ex. CopyCatShades.com is a Byalik LLC Company, etc....)?????//

**fmmp** · 07-02-2003, 03:28 PM

yes you should be able to.

**GiantDomains** · 07-02-2003, 09:34 PM

Yes. An LLC works better with a least 2 people though. An "S" corporation may suit you better. With an "S" corp, you can also claim losses the first year. LLC, you cannot. Also, don't fall for the trick of incorporating in a state other than your own to save on taxes, unless you have an office or presence there. When they find out you are operating in 2 states, you will be double taxed

**Rocket2Uranus** · 07-02-2003, 09:45 PM

I don't think you'll have any trouble. My company is an LLC (with only one officer), and to be honest I don't think they care what you do.

**iBizStart** · 07-03-2003, 01:37 AM

Any advice from lawyers?

**jberryhill** · 07-03-2003, 11:54 AM

"Any advice from lawyers?"

Yes. If this question matters to you, then you would do very well to hire one familiar with the laws of the state in which you want to form an LLC, and with tax laws.

**Rocket2Uranus** · 07-03-2003, 11:58 AM

Just to lower the fear factor a little bit, this is a very simple legal matter. I can only speak for Michigan, of course, but you should be able to get a lawyer's help with this for less than $100. It's really just about getting the right paperwork, filling it out properly and sending it in to be filed. Money well spent in my opinion.

**geoffrey** · 07-03-2003, 01:42 PM

LLC requires 2 "members". it's easier to keep it in your own state.
The LLC will avoid double taxation. The "S" will have two taxes 1) Corporate 2) Personal.

Yes, get a tax adviser.

**actnow** · 07-03-2003, 03:25 PM

With an "S" Corp, profit and loss is passed thru to your individual return.

**GiantDomains** · 07-08-2003, 11:28 AM

Quote:

Originally posted by actnow
With an "S" Corp, profit and loss is passed thru to your individual return.

exactly

07-02-2003, 02:54 PM	#1 (permalink)
iBizStart Platinum Lifetime Member Last Online: Today 04:51 PM iTrader: (25) Join Date: Feb 2003 Posts: 1,788 DNF$: 174 Location: New Jersey	LLC & Domain Names? I want to form an LLC The problem is, usually they have to be for a specific business. I have a lot of websites and want the LLC to apply for all of them Can I just form an LLC called "Byalik LLC" (my last name) And on each website, put a statement on the bottom of the page (ex. CopyCatShades.com is a Byalik LLC Company, etc....)?????// __________________ Legal Help Forum

07-02-2003, 09:34 PM	#3 (permalink)
GiantDomains President Last Online: 12-13-2007 10:56 AM iTrader: (10) Join Date: Sep 2002 Posts: 7,062 DNF$: 325 Location: N-Y-C Country:	Yes. An LLC works better with a least 2 people though. An "S" corporation may suit you better. With an "S" corp, you can also claim losses the first year. LLC, you cannot. Also, don't fall for the trick of incorporating in a state other than your own to save on taxes, unless you have an office or presence there. When they find out you are operating in 2 states, you will be double taxed __________________ NETCHEAP - Discount Dotster Reseller - $7.99 FREE pushes from your dotster account, renew for $7.99! 1. Create a netcheap account. 2. Push from dotster to netcheap account name. 3. Renew for $7.99!

07-02-2003, 09:45 PM	#4 (permalink)
Rocket2Uranus DNF Addict Last Online: 10-23-2009 06:46 PM iTrader: (24) Join Date: Nov 2002 Posts: 2,150 DNF$: 2,834 Location: Grand Rapids, MI	I don't think you'll have any trouble. My company is an LLC (with only one officer), and to be honest I don't think they care what you do. __________________ Quick Setup for a FREE $8.95 eNom Account

07-03-2003, 01:37 AM	#5 (permalink)
iBizStart Platinum Lifetime Member Last Online: Today 04:51 PM iTrader: (25) Join Date: Feb 2003 Posts: 1,788 DNF$: 174 Location: New Jersey	Any advice from lawyers? __________________ Legal Help Forum

07-03-2003, 11:54 AM	#6 (permalink)
jberryhill Philadelphia Lawyer Last Online: 09-18-2009 01:17 AM iTrader: (1) Join Date: Oct 2002 Posts: 2,987 DNF$: 6,350	"Any advice from lawyers?" Yes. If this question matters to you, then you would do very well to hire one familiar with the laws of the state in which you want to form an LLC, and with tax laws. __________________ John Berryhill Ph.d., esq. John-AT-johnberryhill.com Please do not send private messages via dnforum.com, email me directly.

07-02-2003, 03:28 PM	#2 (permalink)
fmmp Platinum Lifetime Member Last Online: 05-20-2007 09:38 PM iTrader: (1) Join Date: Jan 2003 Posts: 170 DNF$: 543 Location: Fairview Heights, IL	yes you should be able to.

07-03-2003, 11:58 AM	#7 (permalink)
Rocket2Uranus DNF Addict Last Online: 10-23-2009 06:46 PM iTrader: (24) Join Date: Nov 2002 Posts: 2,150 DNF$: 2,834 Location: Grand Rapids, MI	Just to lower the fear factor a little bit, this is a very simple legal matter. I can only speak for Michigan, of course, but you should be able to get a lawyer's help with this for less than $100. It's really just about getting the right paperwork, filling it out properly and sending it in to be filed. Money well spent in my opinion. __________________ Quick Setup for a FREE $8.95 eNom Account

07-03-2003, 01:42 PM	#8 (permalink)
geoffrey Platinum Lifetime Member Last Online: 07-12-2007 06:39 PM iTrader: (0) Join Date: Mar 2003 Posts: 63 DNF$: 187 Location: CT.	LLC requires 2 "members". it's easier to keep it in your own state. The LLC will avoid double taxation. The "S" will have two taxes 1) Corporate 2) Personal. Yes, get a tax adviser. __________________ www.ahorre.com www.hipoteca.net www.abogada.com

07-03-2003, 03:25 PM	#9 (permalink)
actnow Last Online: Today 04:33 PM iTrader: (87) Join Date: Mar 2003 Posts: 4,413 DNF$: 6,593 Location: Washington,DC	With an "S" Corp, profit and loss is passed thru to your individual return. __________________ Act Now Twitter - dotcomgroup

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