Hello All, I live in California. I am planning to start a new website which charges membership to its members. At one point it will have its own app's also that will get payments and processing over IOS and Android. I was thinking of opening an LLC for it. But not 100% sure if that's the best way to move on this. The cost of an LLC is gonna be $800 annual minimum tax payments in Ca. If the business is successful and makes money great i'm happy to pay but in case it doesn't the cost is just too much for a site.
Is LLC best option for membership site. Should I look into S corp Or some other method thats somewhat cheaper if the business doesn't even make that much on the first year. The service does require myself separated from the business in case of lawsuit or some crap I don't want that affecting me personally. Not that i foresee anything like that would happen but you never know. Do I even need to pay taxes on the website membership (obviously I should but doesn't hurt to ask :) )
Thank you for the help
Is LLC best option for membership site. Should I look into S corp Or some other method thats somewhat cheaper if the business doesn't even make that much on the first year. The service does require myself separated from the business in case of lawsuit or some crap I don't want that affecting me personally. Not that i foresee anything like that would happen but you never know. Do I even need to pay taxes on the website membership (obviously I should but doesn't hurt to ask :) )
Thank you for the help
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