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Single member LLC?


#1

In the U.S., do most solo founder bootstrappers file a single member LLC (disregarded entity) for small income-producing projects? If so, is it better file in the home state? Thanks!


#2

Generally yes but you should always consult a good CPA in your home state. Sometimes, an S-corp can make sense as well but again, it really depends on your specific situation. Any good CPA will be able to help you.


#3

Florida in particular provides weaker liability protection for (single member) LLCs than you would expect (see https://www.nolo.com/legal-encyclopedia/llc-protection-members-personal-debt-florida.html).

So, if you’re a single founder in Florida, I’d say form an S-Corp (which is what I did).