this post was submitted on 27 May 2024
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[–] [email protected] 129 points 6 months ago (4 children)

Life Pro Tip: Register an LLC to buy your steam games under. The LLC will never die and you can transfer ownership of the business entity while it retains control of the steam account.

[–] [email protected] 83 points 6 months ago (1 children)

That's a lot of effort just to play HuniePop

[–] [email protected] 18 points 6 months ago

ya, but as an LLC you get a lot of rights that you didn't have before!

[–] [email protected] 23 points 6 months ago (6 children)

I kind of want one anyway. Is there a real reason I shouldn't do this?

[–] [email protected] 30 points 6 months ago (2 children)

Disclaimer this was a joke I'm not a lawyer and I have no idea if this would actually work... 😆

[–] [email protected] 13 points 6 months ago (2 children)

Would be hilarious if it actually does and everyone starts doing it…

[–] [email protected] 10 points 6 months ago

"Your honor, 'bonerdragon6969420 llc' has a long and industrious history..."

[–] [email protected] 7 points 6 months ago

I am now curious how and if Steam bothers to deal with business licensing? If they do, it's probably way pricier than what you're normally paying.

[–] [email protected] 23 points 6 months ago

As others have pointed out - costs a few bucks annually,and requires beneficial ownership report (free IIRC).

Otherwise, it’s a tried and true tactic to pass businesses down through generations. An LLC vs. a corp vs a trust is a convo to have w/ lawyer barred in your state but the general premise is vaguely sane.

[–] [email protected] 17 points 6 months ago (1 children)

Personal use of business assets is generally frowned upon by the IRS.

[–] [email protected] 5 points 6 months ago

That's why I'll only play during work hours.

[–] [email protected] 16 points 6 months ago (1 children)

Tldr: Don't do this unless you have a business that requires a steam account for tax purposes. It doesn't need to be successful but it does need to be real.

Trusts are probably a better option for this sort of thing than a LLC.

[–] [email protected] 10 points 6 months ago

Just do benchmark videos on youtube or something. Then rake in the sweet, sweet business losses.

[–] [email protected] 12 points 6 months ago (2 children)

You normally pay an annual fee to keep your LLC registered.

[–] [email protected] 12 points 6 months ago* (last edited 6 months ago) (2 children)

There's at least 10 states with no annual fee. Arizona is $50 to file, $0 annual fees, and no annual report to file.

If you'd prefer your company to have voting rights, you can file in Rhode Island, and your company can vote in local and state elections without ever stepping foot in the state. Hooray late stage capitalism 😞

[–] [email protected] 1 points 6 months ago

There's a good chance the original commenter is not from the US

[–] [email protected] 10 points 6 months ago (1 children)

Also I think you are required to submit yearly financial reports.

[–] [email protected] 3 points 6 months ago

Not in Arizona. You don't even have to live there, just have to file there.

[–] [email protected] 1 points 6 months ago

Completely depends on your country

[–] [email protected] 5 points 6 months ago (3 children)

$800/year is a lot to save maybe $1000 worth of games. At least that's what an LLC costs where I live.

[–] [email protected] 2 points 6 months ago

Woah, that's expensive AF. I think forming an LLC in my state is like $25 and then nothing except tax burdens on revenue.

[–] [email protected] 1 points 6 months ago* (last edited 6 months ago) (1 children)

Almost 10 times less where I live, but not sure because I don't know which dollars you're referring to

[–] [email protected] 0 points 6 months ago

US dollars. I'm in California, which is probably one of the most expensive states to get an LLC but still. Even at $100/year I'm probably not getting my money's worth. Digital games don't hold their value unfortunately.

[–] [email protected] 1 points 6 months ago

1k worth of games? Oh my sweet summer child

[–] [email protected] 3 points 6 months ago* (last edited 6 months ago)

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