How to start an llc wikipedia

What is an LLC? Do I need one for my small business? Do I need an LLC in my particular state? Do I need an LLC if I am using my home state as the filing entity? All of these questions will be answered here and more.

First, we will discuss what an LLC is. An LLC is a Limited Liability Company filed with the appropriate state. It allows for the sharing of one 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 may change your business’ LLC status.

Do I need an LLC for my business? If your company grows significantly and your everyday work requires a great deal of driving, you might wish to take into account an LLC. An LLC can help protect your personal assets while also protecting your business assets from those of your competition. If you file a Change of Address, your address and contact information will become the responsibility of your LLC, not your private residence.

Do I need an LLC if my condition doesn’t require one? Most states won’t require an LLC. Your accountant will be able to help you in determining if you need one based on the sort of business you’ve got and your individual state’s laws. Some states allow for one or partial incorporation of a company. Other states require that you form an actual LLC.

Do I need a Registered Agent for my LLC? An LLC is also another entity from your personal residence. For your LLC to have its own separate legal and financial documents, you will have to appoint a Registered Agent. In some cases, it’s the Registered Agent that will cause the maintenance and filing of all of the LLC’s documents. In other states, the Secretary of State will manage these filings.

Do I need a lawyer for my LLC? As with any legal formation, it’s very important that any individuals associated with your LLC are trustworthy and qualified. In case you have kids or a spouse, you’ll need an lawyer that will help you complete the forms and register the name of your business, in addition to any alterations (name changes). While the most common reasons to form an LLC would be to prevent state taxes and comply with tax laws, having a registered agent and a skilled attorney also lets you secure your individual interests while still being able to operate your company peacefully.

Do I need an accountant for my LLC? Running an LLC is a very complex and intricate task, and it requires the eye of an experienced accountant. When you file your papers with your state’s Secretary of State, he or she will provide you with a comprehensive list of who is authorized to make changes and who is responsible for completing them. While this sounds helpful, many accountants aren’t qualified to handle the complex task of incorporating a business. The Secretary of State also has specific rules about who will represent the LLC, when filings are to be made, how they need to be completed, 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 have to incorporate as a company first, before you can incorporate as an LLC. No matter the type of business you are in, you want a qualified individual to assist you produce the necessary Articles of Organization, register the name of your LLC, and maintain the books.