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1. #LEGAL ZOOM LLC FOR AMAZON FBA HOW TO#
2. #LEGAL ZOOM LLC FOR AMAZON FBA UPDATE#
3. #LEGAL ZOOM LLC FOR AMAZON FBA LICENSE#

Credibility and Consumer TrustĪmazon businesses rely on consumer trust.

#LEGAL ZOOM LLC FOR AMAZON FBA HOW TO#

Our How to Start an S Corp guide will lead you through the process. You can start an S corp when you form your LLC. We estimate that if an Amazon seller can pay themselves a reasonable salary and at least $10,000 in distributions each year, they could benefit from S corp status. To offset these costs, you'd need to be saving about $2,000 a year on taxes. Seems like setting up an LLC (and S-Corp) for a simple one-man operation is probably a pretty basic, generic task for someone who knows what they are doing, so it might make sense that a cheap package from somewhere basic and generic like LegalZoom might make sense. In addition, the business might need to spend more on accounting, bookkeeping, and payroll services. LegalZoom appears to have some cheap pricing to set up LLCs. The S corp status requires that the business pay the employee-owner(s) a reasonable salary for the work they perform. S corp tax status can reduce self-employment taxes and will allow business owners to contribute pre-tax dollars to 401k or health insurance premiums. S corp status allows business owners to be treated as employees of the business (for tax purposes). Sole proprietorships and partnerships are taxed in a similar way to LLCs, but they do not offer limited liability protection or other tax options.Īn S corporation (S corp) is an IRS tax status that an LLC can elect. The business’s net income is then subject to income taxes (based on the owner's tax bracket) and self-employment taxes. This means that the business's net income passes through to the owner's individual tax return. LLCs, by default, are taxed as a pass-through entity, just like a sole proprietorship or partnership. LLC Tax Benefits and Options for an Amazon Business To maintain your LLC's limited liability protection, you must maintain your LLC's corporate veil. Even if you are ultimately not held liable, legal costs could be substantial.Īn LLC will also protect your personal assets in the event of commercial bankruptcy or loan default. This means your personal assets (e.g., car, house, bank account) are protected in the event your business is sued or if it defaults on a debt.Īmazon businesses will benefit from liability protection because of the liability risk of personal injuries, property damage, copyright infringement, and libel.Įxample: A customer’s child swallows a broken piece of one of your products, requiring a trip to the emergency room. LLCs provide limited liability protection.

#LEGAL ZOOM LLC FOR AMAZON FBA UPDATE#

If you plan to receive any physical items (i.e packages) from any vendors you're working with (i.e Amazon), make sure to update your business address with their records

If you have any auto-billed items, make sure to review and update your business address in necessaryĭo not forget to update your clients about your address change, especially you expect them to send you checks or any other written material. If you have an address change, we will automatically update your business address in your Collective account. To update your QuickBooks Online business address, follow the directions here or go to QuickBooks for further details: Below are the directions to update your business address, or the address for you and any of your employees. There are too many cities to list all of the direct links, but if you go to the city government website where you filed your business license, there will likely be an option to update your address online.Ĭontact all of your banks and credit card companies to update them with your new business address details.

#LEGAL ZOOM LLC FOR AMAZON FBA LICENSE#

Updating your address for your business license varies from city to city in the state of California. You will need to check to sign the form and send it directly to the IRS address below: You will complete the IRS change of business address form. IRS form 8822-B - Change of Address or Responsibility form In California, you can update your address by filing a Statement of Information → You can do so here.Ģ.

Please note that this guide is intended only for California based businesses.Īt the end of this document, you’ll also find some helpful links to resources on the best practices for updating your business address. In some cases, Collective will assist or complete the address change step for you. If you have an address change for your business, below are the companies and/or organizations that you will need to contact in order to update your new business address information.