I am keen on learning more about setting up an LLC in Delaware. As an Australian citizen living outside of the USA, will I have to pay tax on the income/profit generated by the LLC, or would I be paying taxes as part of my personal income tax?
We would be happy to help establish your LLC for you. While we suggest you ask specific tax questions of a CPA, typically for a single-member LLC, if there is no US source income, there is no personal tax return required. Please go to the IRS website and read about FBAR requirements.
If a Delaware LLC is not doing business inside Delaware, you do not have to pay income tax or file a return in Delaware. Delaware only requires that an LLC pay $300 annual franchise tax due June 1 and maintain a registered agent such as IncNow.