Puerto Rico Unit Operating Agreement
Description
How to fill out Unit Operating Agreement?
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Annual reports must be filed electronically by accessing the Department of State website at .estado.pr.gov. A $150 annual fee is payable when filing the report. The payment method is a major credit card or any other method provided at the Department of State website.
Application for Registration CostDescriptionDownload$150.00 o 5.00Foreign Corporation - Certificated of Authorization to do businessDownload$150.00Close CorporationDownload$150.00Professional CorporationDownload$110.00Limited Liability SocietyDownload2 more rows
Because of the advantages of forming an LLC in Puerto Rico, new LLCs are formed in the state each year. Should you wish to have more flexibility and protection, you may instead form a Delaware LLC, even if you operate in Puerto Rico.
The initial cost to start an LLC in Puerto Rico is $250 to register your business with the Department of State. After that, you'll have a yearly recurring cost of $150 for your Annual Fee, which keeps your LLC current with the state.
An operating agreement, also known in some states as a limited liability company (LLC) agreement, is a contract that describes how a business plans to operate. Think of it as a legal business plan that reads like a prenup.
Ingly if an LLC is organized under the laws of Puerto Rico it is taxed as a domestic corporation and if organized under the laws of any other country, including the United States, it is taxed as a foreign corporation. A Puerto Rico LLC is a foreign eligible entity for U.S. federal income taxes.
If your LLC is taxed as a Puerto Rico corporation, you'll need to pay corporate income tax. Puerto Rico's corporate tax rate is 37.5%. However, under the Puerto Rico Incentives Code (Act 60), businesses based in Puerto Rico only need to pay a 4% corporate income tax on goods and services exported from the commonwealth.