We’ve been getting a lot of questions lately from Uber Drivers who are considering setting up an LLC for their new ride share business. Send us an email if your question if you’d like to add your question to list!

How to Set Up LLC for Uber Driver

We’ll do it for you! Just send us an email and we’ll get you set up asap. The entire process can be completed online or you can stop by our office in SoHo if you wish. The formation process only takes a couple of days and we’ll email your Articles of Organization, EIN, and everything you need to set up a business bank account.

Advantages of an LLC for Uber Driver

The main advantage is limited liability protection. By establishing a business entity, you can do business under the umbrella of the company and not subject your personal assets to any risk. There may be tax advantages as well. As a business owner, you can write off your expenses related to the business (including your legal and formation fees) and you may be able to save on taxes too. LLCs can be taxed in a variety of different ways, including as an S-corp, which can limit self-employment taxes in some scenarios.

Are there driving restrictions for Uber of Lyft in New York City?

Yes. In order to drive for Uber, Lyft, or other ride sharing companies in New York City you’ll need a TLC license. A TLC license is a license required by the Taxi and Limousine Commission. You can read more about the application on the Uber website at this link.