Puerto Rico Short Form Limited Liability Company LLC Agreement
Description
How to fill out Short Form Limited Liability Company LLC Agreement?
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FAQ
Ingly if an LLC is organized under the laws of Puerto Rico it is taxed as a domestic corporation and if organized under the laws of any other country, including the United States, it is taxed as a foreign corporation. A Puerto Rico LLC is a foreign eligible entity for U.S. federal income taxes.
form operating agreement (also known as a limited liability company (LLC) agreement or company agreement) for a membermanaged New York LLC with multiple members. This Standard Document is an agreement among the LLC and its members.
For the purposes of starting a US LLC, non-citizens living inside or outside of the US can both legally form a US LLC.
Puerto Rico offers great tax incentives to LLCs and individuals who move to Puerto Rico, including a 4% income tax and exemptions from paying taxes on capital gains, interest, or dividends (for individuals and businesses that meet the requirements).
To officially start your Puerto Rico LLC, you need name your business, appoint a registered agent, and file a Certificate of Formation with the Puerto Rico Department of State. The certificate costs $250 to file and typically takes between a day and a week to process depending on how you file.
The Puerto Rico LLC Act allows members to protect their control of an LLC. An LLC agreement may prohibit members from assigning their membership interests. But, if an LLC agreement does not prohibit it, an assignment does not dissolve the LLC or entitle the assignee to participate in management or to become a member.
Puerto Rico LLC Cost. The initial cost to start an LLC in Puerto Rico is $250 to register your business with the Department of State. After that, you'll have a yearly recurring cost of $150 for your Annual Fee, which keeps your LLC current with the state.
