Limited Liability Company Business Analysis

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RallyGirlRacing.com will begin as a sole proprietorship for the first year of its existence. During the first year, the company will work on the logo and art work for the company to use on T-shirts and stickers which will later be sold online and at rally racing events. Once the company develops adequate inventories of digital art work and design, we will transition these offerings to our social media and website areas. During the timeframe this happens, the company will transition into a Limited Liability Company (LLC). Costs Involved. The cost in the beginning of starting out as a sole proprietorship will be $220 for the filing of Doing Business Under an Assumed Name (DBA) and the cost break down to $50 state fee, $75 filing fee, and …show more content…

As SBA.gov points out, because you and your business are one and the same, the business itself is not taxed separately, the sole proprietorship income is your income (Sole Proprietorship, n.d.). Because the company does not for see large profits during the first year and they will be off set with expenses creates an advantage for us. In addition to this, there are low to no costs for creating a sole proprietorship other than the DBA filing fee. Since our booking keeping will already be setup for a sole proprietorship it will not be difficult to transfer the company to a LLC. Once the company transitions into the LLC, our personal liability will be removed. As the company grows over time with the LLC, it will be easier to add new shareholders or partners on since there are no limits within a …show more content…

289). RallyGirlRacing.com will utilize only manufactures within the United States. Along with this, we will make every attempt to ensure that all materials are sourced within the United States too. Because we are stewards of this great world, the company will not waste any resources by having all T-shirts sold constructed as an on-demand item. This helps reduce the waste in the world from not over producing product that has no demand. In addition to this, the company will donate 10% of gross profits to local churches throughout the country that will be able to use the funds to further their outreach and assistance to those in

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