California, USA LLC

Capital City: Sacramento

Economy: Agriculture: Vegetables, fruits and nuts, dairy products, cattle, nursery stock, grapes. Industry: Electronic components and equipment, aerospace, film production, food processing, petroleum, computers and computer software, tourism.

Population: 33,871,565

California has an enormously productive economy, which for a nation would be one of the ten largest in the world. Although agriculture is gradually yielding to industry as the core of the state's economy, California leads the nation in the production of fruits and vegetables, including carrots, lettuce, onions, broccoli, tomatoes, strawberries, and almonds. The state's most valuable crops are grapes, cotton, flowers, and oranges; dairy products, however, contribute the single largest share of farm income, and California is again the national leader in this sector. The state also produces the major share of U.S. domestic wine. California's farms are highly productive as a result of good soil, a long growing season, and the use of modern agricultural methods. Irrigation is critical, especially in the San Joaquin Valley and Imperial Valley. The gathering and packing of crops is done largely by seasonal migrant labor, primarily Mexicans.

Much of the state's industrial production depends on the processing of farm produce and upon such local resources as petroleum, natural gas, lumber, cement, and sand and gravel. Since World War II, however, manufacturing, notably of electronic equipment, computers, machinery, transportation equipment, and metal products, has increased enormously. Defense industries, a base of the economy especially in S California, have declined following the end of the cold war, a serious blow to the state. But many high-tech companies and small low-tech, often low-wage, companies remain in S California, in what is said to be the largest manufacturing belt in the United States. Farther north, “Silicon Valley,” between Palo Alto and San Jose, so called because it is the nation's leading producer of semiconductors, is also a focus of software development.

The United States LLC is not a partnership or a corporation. It is a distinct business entity that offers an alternative to partnerships and corporations by combining the corporate advantages of limited liability with the partnership advantage of pass-through taxation. US LLCs with non-resident members and which conduct no business in the US and which have no US-source income are not subject to US federal income tax and are not required to file a US income tax return. US LLCs are popular vehicles for conducting international business.

For offshore business usually Corporation or Limited Liability Company (LLC) types are used, those based on the General Corporation Law and Limited Liability Act.

Company Statute: Limited Liability Company (LLC)

Taxation: US limited liability companies that conduct no business in the recommended states of formation with non-resident members are generally not subject to state income tax and are not required to file a state income tax return.

Shareholders/Members: Normally one.

Directors/Managers: Normally one.

Registered Office Required: Yes. Must be maintained in state of incorporation/formation at the office of a professional registered agent.

Name Restrictions: Anything identical or similar to an existing company within the state of formation. Additionally, the use of bank, trust, insurance or reinsurance within the name of the LLC is generally prohibited in all 50 states. This is because limited liability companies in most states are simply not allowed to engage in a banking or insurance business.

Financial Statements: There is generally no requirement to file financial statements with the state of formation unless the corporation owns assets within that state or has conducted business within that state.

Annual Report/Licence Fees: USD 300.