Ye, however you might wanna make sure and wait for another member here to confirm this as I am not completely sure. Better yet, why don't you e-mail the 123 reg guys because they can give you help better...
Here's a very good read on "10 US Laws Every Domainer Needs to Know"..
For your particular question, pay attention to #3:.
"3. What Legal Entity Should I Use?".
That is good, I can see how the donating part could be a little confusing..
My understanding is if you donate the name you can not go by any appraisal you may only deduct the higher of either what you paid for it or what the company you donated the name to sells it for and I imagine the donation company would have to sell the name that year not the next..
I'm not sure what the 3rd party appraisal has to do with anything...
Does anyone reccomend LegalZoom for this? I've been thinking about using them, instead of filing the papers myself, but if it is easy to do it yourself, then I might do that...
Having a good company do it is always the best..
I went from a C corp Joker Productions, INC for 7 years to last year changing to LLC, Vegas Entertainment Group, llc The llc seems to be better for me. I went threw Nevada Corp. Headquarters ran me 1650 to buy a 1 year old shelf corp, then 500 business licences and a few other fees. I think the best way is to go with a company.NCHINC is world wide and you get tax breaks if your Corp is here, they are the state agent and you use there address so you dont have to live here. I just happen to live hee. Now the JPINC I sold with it after I had a high Dunn & Bradstreet CR, another great business, buying corp names for 4 months (as thats how long you can hold it before you have to buy it or renew the extension for another minimum fee) this cost is $40 to $90 now lets say I want to have WynnINC.
If they want it they will see it's on hold and they then contact the current holder and I say well I wanted it but I could sell it and you know the rest. Now once I get a person that shows interest I reg it for the 300 and get a business licences and start building credit, they think well lets wait until they release it if he does not buy it. But I buy it when I get the offer, now they know I want it and they need to act fast the best part and best selling point is showing good standing with DB..
Its like the HostGator business in a way...
Either that sounds really confusing, or I'm up way too late.. LOL.
I didn't know people bought and sold business names and am trying to make sense of whay you are saying.. Perhaps I'll take another look in the morning..
Legalzoom is certainly good if you want to pay $300..
Just for the record, I think LLC is a state-designation so from the Federal perspective, it is treated as a partnership..
1. Apply and get the Federal EIN first (.
2. Search for "LLC <your state>"; you should follow the link to the treasury department.
3. I would choose single-member LLC so that come tax time, you can just file one additional form, Schedule C. Just be careful that if you choose this option, only you (and your spouse, if married) can belong to it..
When you get a chance, read a book called "Form Your Own Limited Liability Company" by Nolo Press. Or, if you are frugal like me, go to toolkit.com and search for LLC. Both sources are really informative..
I wouldn't use LegalZoom or a third party to register an LLC. It's a waste of money and all they do fill in a simple form from info that you give them. In most cases registering an LLC is just a simple 1 or 2 page form available from your State government's website...
I would recommend using an S-corp. Great tax benefits if you are the only employee...
I have an S corp, but my husband had a llc that was taxed as an S Corp (ie, income passed thru). While I had to file annual reports and keep other records, he did none of that. He still had a payroll and the protection of having a separate entity:.
If I were doing it again, I would pick an llc...
Unless you are a lawyer, it's shaky ground to offer such a recommendation..
It could be construed as offering legal advice..
This is just a friendly heads-up. :-).
I agree, I wouldnt use a service. Most states have everything you need right online. PA for instance, costs $125 and you can file right online using a simple form...