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Old 03-21-2017
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Default Llc ebay stealth

My real eBay and paypal were recently suspended/limited. i want to open up an LLC. but i have a couple questions

Does it have to be single or multi member LLC.

Do i put the registered owner as my real name, but name it, (stealth name) LLC?

What else should i know for opening an LLC for eBay Stealth?


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Old 03-21-2017
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Default Re: Llc ebay stealth

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Originally Posted by genesissalesco View Post
Does it have to be single or multi member LLC.
It can be either. Difference is a single member EIN will be issued in your name and multi member EIN will be issued in the name of the LLC. If you choose single member, you'll have to lie to Paypal during registration and tell them you're a corporation and not sole proprietor/single member LLC. Reason being is they will insist on getting your SSN if you choose single member LLC.

Quote:
Do i put the registered owner as my real name, but name it, (stealth name) LLC?
You can use your real name since you'll be giving them an EIN and not your SSN. Personally though none of my business accounts have my real name because they were all purchased here. It's not vital that your name be accurate since your 1099-k will be issued for your EIN. You just pay taxes for your business at tax time.

If you do use your real name it will make things much easier if you're ever limited for any reason. I would avoid using the exact name and address used on previously limited accounts though.

Quote:
What else should i know for opening an LLC for eBay Stealth?
Not much. You should know you'll be required to register your LLC with a state. You should know you'll be obligated to pay taxes on your profit (which I'm sure you do know). You should also be aware of "release amounts" that P/P applies to new business accounts. After your first couple of sales P/P will determine how many of your payments you'll have instant access to each month once they determine how risky your business is. I've always chosen to start with personal accounts and later upgrade to business once the account is established, in order to avoid release amounts. I would rather deal with standard new-seller-payment-holds then release amounts, because with a release amount any payments over that amount are held for a full 21 days, regardless of whether or not you upload tracking for the transaction.

Let me know if you have any questions. I'm not an expert by any means but I love helping sellers get set up to compete against me!
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Old 03-21-2017
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Default Re: Llc ebay stealth

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Originally Posted by phaz0rz View Post
It can be either. Difference is a single member EIN will be issued in your name and multi member EIN will be issued in the name of the LLC. If you choose single member, you'll have to lie to Paypal during registration and tell them you're a corporation and not sole proprietor/single member LLC. Reason being is they will insist on getting your SSN if you choose single member LLC.

You can use your real name since you'll be giving them an EIN and not your SSN. Personally though none of my business accounts have my real name because they were all purchased here. It's not vital that your name be accurate since your 1099-k will be issued for your EIN. You just pay taxes for your business at tax time.

If you do use your real name it will make things much easier if you're ever limited for any reason. I would avoid using the exact name and address used on previously limited accounts though.

Not much. You should know you'll be required to register your LLC with a state. You should know you'll be obligated to pay taxes on your profit (which I'm sure you do know). You should also be aware of "release amounts" that P/P applies to new business accounts. After your first couple of sales P/P will determine how many of your payments you'll have instant access to each month once they determine how risky your business is. I've always chosen to start with personal accounts and later upgrade to business once the account is established, in order to avoid release amounts. I would rather deal with standard new-seller-payment-holds then release amounts, because with a release amount any payments over that amount are held for a full 21 days, regardless of whether or not you upload tracking for the transaction.

Let me know if you have any questions. I'm not an expert by any means but I love helping sellers get set up to compete against me!
Now that was an insightful and helpful post! Thank you for the contribution.
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Old 03-21-2017
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Default Re: Llc ebay stealth

Quote:
Originally Posted by phaz0rz View Post
It can be either. Difference is a single member EIN will be issued in your name and multi member EIN will be issued in the name of the LLC. If you choose single member, you'll have to lie to Paypal during registration and tell them you're a corporation and not sole proprietor/single member LLC. Reason being is they will insist on getting your SSN if you choose single member LLC.

You can use your real name since you'll be giving them an EIN and not your SSN. Personally though none of my business accounts have my real name because they were all purchased here. It's not vital that your name be accurate since your 1099-k will be issued for your EIN. You just pay taxes for your business at tax time.

If you do use your real name it will make things much easier if you're ever limited for any reason. I would avoid using the exact name and address used on previously limited accounts though.

Not much. You should know you'll be required to register your LLC with a state. You should know you'll be obligated to pay taxes on your profit (which I'm sure you do know). You should also be aware of "release amounts" that P/P applies to new business accounts. After your first couple of sales P/P will determine how many of your payments you'll have instant access to each month once they determine how risky your business is. I've always chosen to start with personal accounts and later upgrade to business once the account is established, in order to avoid release amounts. I would rather deal with standard new-seller-payment-holds then release amounts, because with a release amount any payments over that amount are held for a full 21 days, regardless of whether or not you upload tracking for the transaction.

Let me know if you have any questions. I'm not an expert by any means but I love helping sellers get set up to compete against me!
Hi,

Thank you for the reply on my forum post. may you please provide me with your Skype or email to contact you directly plz? or message me on Skype or email. genesissalesco, genesissalesco@gmail.com
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