Comments on: Can I start a limited liability corporation at age fourteen? http://www.agedcorporationsecrets.com/aged-corporation/can-i-start-a-limited-liability-corporation-at-age-fourteen Information on Shelf Corporations, Aged Corporations and Business Credit Lines Fri, 03 Sep 2010 12:08:59 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: TK http://www.agedcorporationsecrets.com/aged-corporation/can-i-start-a-limited-liability-corporation-at-age-fourteen/comment-page-1#comment-101 TK Tue, 22 Sep 2009 23:46:59 +0000 http://www.agedcorporationsecrets.com/aged-corporation/can-i-start-a-limited-liability-corporation-at-age-fourteen#comment-101 I don't know where you live, but usually you are not considered an adult until you reach age 18, and so you may be limited by law in terms of forming an LLC or an "S" corporation. You should consult an attorney, or a business enterprise center operated by a public or private college, for advice in this regard. I do know that if your LLC/S corp was structured so that you were the only person entitled to the net income, then it would have no affect on your parents from a Federal or state income tax perspective. They would, however, lose the ability to claim you as a dependent on their income tax returns after you realized a certain level of income.<br><b>References : </b><br> I don’t know where you live, but usually you are not considered an adult until you reach age 18, and so you may be limited by law in terms of forming an LLC or an "S" corporation.

You should consult an attorney, or a business enterprise center operated by a public or private college, for advice in this regard. I do know that if your LLC/S corp was structured so that you were the only person entitled to the net income, then it would have no affect on your parents from a Federal or state income tax perspective. They would, however, lose the ability to claim you as a dependent on their income tax returns after you realized a certain level of income.
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]]> By: grasshopper http://www.agedcorporationsecrets.com/aged-corporation/can-i-start-a-limited-liability-corporation-at-age-fourteen/comment-page-1#comment-100 grasshopper Tue, 22 Sep 2009 23:40:59 +0000 http://www.agedcorporationsecrets.com/aged-corporation/can-i-start-a-limited-liability-corporation-at-age-fourteen#comment-100 You might be able to. Find the organization S.C.O.R.E in your area. They can help. Any money will need to be filed as income. If you can't start an llc, you can always do buisness under a different name and cash checks by writing dba after your name. Good Luck.<br><b>References : </b><br> You might be able to. Find the organization S.C.O.R.E in your area. They can help. Any money will need to be filed as income. If you can’t start an llc, you can always do buisness under a different name and cash checks by writing dba after your name. Good Luck.
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]]> By: banjaxed http://www.agedcorporationsecrets.com/aged-corporation/can-i-start-a-limited-liability-corporation-at-age-fourteen/comment-page-1#comment-99 banjaxed Tue, 22 Sep 2009 23:22:59 +0000 http://www.agedcorporationsecrets.com/aged-corporation/can-i-start-a-limited-liability-corporation-at-age-fourteen#comment-99 talk to a lawyer , I really think thats your best bet I would imagine it depneds alot on the law where you live<br><b>References : </b><br> talk to a lawyer , I really think thats your best bet

I would imagine it depneds alot on the law where you live
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