u/BaconBathBomb wrote (the comment Michael replied to):
LLC is $150. no taxes involved till you file the next year / if you earn revenue & profit. You Being an L7 in a boot camp sub Reddit, you must have some knowledge. But, what ever resume/history/clout/status you have AND respecting a SOS filing (LLC registration) as a credentia
u/michaelnovati replied ·
All LLCs in California have to pay a minimum $800 tax every year regardless of revenue. This obviously depends on the state of residence of the managing members and the state of registration of the LLC.
LLC's don't have shares and ownership can't be bought and sold like a share or stock. This is like a fundamental fact about the nature of LLCs.
Sarcasm aside, making an LLC obviously doesn't change the nature of the project. But why don't more people do it? It might show some initiative at least if you go through the trouble of registering a genuine, non-fraudulant company even if it's a terrible group project. The fact that this sounds kind of funny is an indication that these group projects are no where near real companies but their members are getting a lot of the benefit of appearing like a company and kind of proving my point.