What is an LLC? Do I need one for my small company? Do I need an LLC in my particular state? Do I want an LLC if I’m using my home state as the filing entity? All of these questions will be answered here and much more.
First, we’ll discuss what an LLC is. An LLC is a Limited Liability Company filed with the appropriate state. It allows for the sharing of a single kind of tax liability (the tax liability on the shares of stock in the industry ) between the company and the owner (the person who started the LLC). If you are submitting a Change of Address, this can change your business’ LLC status.
Do I need an LLC for my organization? If your business grows significantly and your everyday work requires a great deal of driving, you may wish to consider an LLC. An LLC can help protect your personal assets while also protecting your business assets from those of your competitors. If you file a Change of Address, your address and contact information will become the liability of your LLC, not your personal residence.
Do I need an LLC if my condition doesn’t require one? Most states will not require an LLC. Your accountant will be able to assist you in determining if you want one based on the sort of business you’ve got and your particular state’s laws. Some countries allow for one or partial incorporation of a company. Other states require that you form a real LLC.
Do I need a Registered Agent for my LLC? An LLC is also a separate entity from your personal residence. For your LLC to have its own separate legal and financial records, you will need to appoint a Registered Agent. Sometimes, it is the Registered Agent that will cause the filing and maintenance of all the LLC’s documents. In other states, the Secretary of State will handle these filings.
Do I need an attorney for my LLC? As with any legal formation, it’s very important that any individuals associated with your LLC are trustworthy and qualified. If you have kids or a spouse, you’ll need an attorney that will help you fill out the forms and register the name of your business, as well as any alterations (name changes). While the most common reasons to form an LLC would be to avoid state taxation and comply with tax laws, obtaining a registered agent and a skilled attorney also allows you to secure your individual interests while still being able to operate your company peacefully.
Do I need an accountant for my LLC? Operating an LLC is a really complex and intricate job, and it requires the attention of a qualified accountant. When you file your documents with your state’s Secretary of State, he or she will supply you with a comprehensive list of who is authorized to make changes and who’s responsible for completing them. While this sounds helpful, many accountants aren’t qualified to handle the complex task of incorporating a small business. The Secretary of State also has specific rules about who can represent the LLC, when filings are to be made, how they need to be finished, and what fees are required.
Do I need an accountant for my LLC? It depends on your state’s laws. Most states allow a sole proprietorship to incorporate as an LLC, but you must incorporate as a corporation first, before it is possible to incorporate as an LLC. No matter the type of business you’re in, you want a qualified individual to assist you create the necessary Articles of Organization, register the name of your LLC, and keep the books.