Tag Archive | "sole proprietorship"

Tax Information For Affiliate Websites?


I made a website and I joined the Best Buy Affiliate Program to sell best buy products on my website. I have to fill in information for the tax form W-9. There are business types to choose from on the form and I’m not sure what type an affiliate site would fit under. The types are Sole Proprietorship/Individual, Corporation, LLC/LCC, Non Profit/Government, and Other. Can anyone tell me what type an affiliate site would fall under?

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Single Member Llc Tax As Corp?


Hello, I am from CA and formed an LLC (as a single member) in Wyoming the beginning of the year (2010). I formed it there since it’s just an online affiliate business. Now it was not until late summer of 2010 that I began working on it and having business activities.
Thus far, I have a registered agent in WY, an EIN (listed as a partnership/multi-member), a bank account setup for WY, and currently one owner. After doing more research, the company that formed my LLC suggests I should elect to have my entity classified as a corporation (form 8832). That way, my personal income tax is separated from my LLC tax (stays away from CA) as a corporate in WY. Is this a good choice as I’m not earning much yet? However, I read that the state of CA will find ou (even if you separate yourself from the business) but if you conduct business while living in CA, you’ll pay the $800 FTB. In that case, was it a good idea to form it in WY? I’m afraid of paying both CA/WY FTB and along with SE txes on my 1040 Schedule C.
But what if I elected to have my WY LLC to be taxed as a corporate (form 8832)? The company I formed the LLC with is believes corporate taxation makes it necessary to have a separate tax return for the LLC.
Or, should I just dissolve the WY LLC and change it to an CA LLC as a sole-proprietorship?

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