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Thread: Naming a corporation for my AP income/expenses

  1. #1


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    Naming a corporation for my AP income/expenses

    I am setting up a corporation to account for my gambling income and expenses. I already have another corporation for my other business.

    I am planning to go with something uninteresting for the name, like "ABC company" (not specifically this, just an example). For APs who have set up a corporation for the same purpose, are there things I might consider in picking a name? I can't think of any reason to pick one name over another, other than perhaps picking something innocuous that isn't overtly a gambling-related name. Thanks!

  2. #2


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    In my jurisdiction you can set up numbered corporations with no name at all.

  3. #3


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    You should only be setting up an S corp imo. You'll save lots on taxes compared to an LLC or just sole proprietor. Assuming you're not on a huge team

  4. #4
    Random number herder Norm's Avatar
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    Seems like overkill. A DBA may be enough. Any tax accountants want to weigh in?
    "I don't think outside the box; I think of what I can do with the box." - Henri Matisse

  5. #5


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    Quote Originally Posted by Norm View Post
    Seems like overkill. A DBA may be enough. Any tax accountants want to weigh in?
    S corp will save a good bit on tax.

    LLC makes 100k, pays 32% in tax= 32k

    S corp makes 100k, (25k salary 75k distribution)
    pays 32%×25k and 22%×75k =24.5k

    %s are estimates but close

  6. #6


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    It will be an S corp, which is what I have already for my other non-gambling business.

  7. #7


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    You can set up an LLC and elect to be taxed as a Sub S Corp. The best of both worlds? I just did it for a non-gaming business. More info: https://www.bizfilings.com/toolkit/r...of-both-worlds

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