Why do I need to form an llc

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

First, we’ll explore what an LLC is. An LLC is a Limited Liability Company filed with the appropriate state. It allows for the sharing of a single type of tax liability (the tax liability on the shares of stock in the business) between the company and the owner (the person who started the LLC). If you’re 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 daily work requires a great deal of driving, you might wish to consider 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 want an LLC if my state doesn’t require one? Most states won’t require an LLC. Your accountant will be able to help you in determining if you want 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 you to form a real LLC.

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

Do I need a lawyer for my LLC? Like any legal formation, it is very important that any individuals associated with your LLC are qualified and trustworthy. In case 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 organization, as well as any alterations (name changes). While the most common reasons to form an LLC would be to prevent state taxes and comply with tax laws, obtaining a registered agent and a qualified attorney also lets you secure your individual interests while still being able to operate your business peacefully.

Do I need an accountant for my LLC? Running an LLC is a very complex and intricate job, and it requires the eye of an experienced accountant. When you file your documents with your state’s Secretary of State, he or she’ll 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 intricate task of incorporating a 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 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 must incorporate as a company first, before it is possible to incorporate as an LLC. Regardless of the type of business you are in, you want a qualified individual that will assist you create the necessary Articles of Organization, register the name of your LLC, and maintain the books.