LLC as C Corp VS S Corp

[sahina]

Hi ****,

Thank you for all the help you are giving to all of us. It is so avaluable. I read bunch of your answers to similar questions before asking mine.

I have a pending 485 application and EAD. I am stuck with Retrogression so I am expecting a few months until there is visa available and getting my Green Card. Until then I have a business opportunity I don't want to miss. I live in NY and I will be moving to MO after my GC is approved. The business opportunity is consulting / development for a New York company.

I need to setup a company and I after some research, I decided for an LLC.

1. I know that I can not file this LLC as an "S" corp until I am LPR so the options are "C" corp or as default. I know that "C" corp is double taxed so I am thinking of filing LLC as default entity for now and switch it to "S" corp after I am LPR. In MO, LLC can be a single member entity. Since I will be moving there, I will set up the LLC in MO. The agent will be a MO resident. Is this a correct and best way to go?

2. How is the taxation in LLC differ in "S" Corp or default entity?

3. What kind of benefits are there for "S" Corp?

Thank you so much in advance

[sahina]

Thank you for your reply. Am I at least on the mark for selecting the right type of LLC?

Thanks again...

[sahina]

I know that tax rate will be %15 for C-Corp (if LLC is filed as C-Corp). If it is default, I heard it is around %25... Is this correct?