Unlike many non-lawyer services found online, we won't charge you separately for an "LLC formation service" just to complete and submit a simple form that you could handle yourself. If needed, that service is included at no additional charge.
Each LLC that we form includes all of the documents needed to properly set up the LLC to maximize planning opportunities, including a valid operating agreement, and organizational resolution, and related documents.
This intake interview collects the information needed to properly set up an LLC. We will prepare your LLC documents using the information you provide.
At any time during the interview—if you have entered all required answers (marked with *)—you can use the Next button to advance to the next screen. You can also use the Back button to return to a previous screen to check or change your answers. You can also use Save and Continue Later to save your progress at any time.
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This intake interview collects the information needed to move your LLC to a new state using a statutory domestication or conversion procedure. We will use the information you provide to prepare all the documents needed for filing in both the original state and the new state.
Maximum number of owners reached.
Maximum number of managers reached.
Most U.S. states require businesses to state the entity's business purpose in the document filed with the state. The business purpose may be general (for example, "any lawful activity") or specific (for example, "real estate investment purposes, including buying, selling, renting, and otherwise dealing with residential and commercial real estate").
In most cases, restricting an entity's business purpose can raise questions about the entity's authority and create more problems than it solves. Specific business purposes are used primarily in two contexts:
Even if the company is being formed to engage specific activity, there is usually no legal reason to restrict the company's authority. Unless one of the two exceptions above apply, it is usually best to give the company a general purpose (any purpose permitted by law).
Because the new business entity already exists under state law and is being domesticated to be governed by state law, the equity structure and ownership structure will remain the same for purposes of the domestication. Each owner's interest in the state business entity will be converted to an interest in the state business entity on a one-to-one basis.
A registered agent is a person or organization that is located in and who can receive legal correspondence on behalf of . Each must have a registered agent and list the office of the registered agent. This requirement ensures that there is someone located in that can receive legal documents on behalf of the .
If you live in , there is nothing to prohibit you from serving as your own registered agent. Doing so can save the cost of paying a third-party registered agent company every year, but there are two downsides:
If you don't mind these downsides, you can serve as your own registered agent. Otherwise, you might consider an independent registered agent service. The fees for independent registered agents are usually around $125 per year. We have an affiliate relationship with one of the most popular registered agent services (Northwest Registered Agent) and can help you sign up.
An LLC is an entity created by state statute. The IRS did not create a new tax classification for the LLC when it was created by the states; instead IRS uses the tax entity classifications it has always had for business taxpayers: corporation, partnership, or disregarded as an entity separate from its owner, referred to as a “disregarded entity.”
The IRS always classifies LLCs as one of these types of taxable entities. By default, a multi-owner LLC is taxed as a partnership and a single-owner LLC is a disregarded entity. If a “disregarded entity” is owned by an individual, it is treated as a sole proprietor. If the “disregarded entity” is owned by any other entity, it is treated as a branch or division of its owner. The LLC can change the tax classification by electing to be taxed as a corporation (usually an S corporation to avoid double taxation).
See How to Choose a Tax Classification for an LLC for more information on choosing a tax classification for an LLC. In most cases, accepting the default classification with the option to make an S corporation election will provide the most flexibility.
Because the new business will be owned by a married couple that resides in a community property state, you can choose which default tax classification to apply.
This decision affects the tax classification only and does not affect the actual ownership of the LLC. The selection you make here will include language that is consistent with the choice you made on the prior screen.
An employer identification number (EIN) is a nine-digit number assigned by the IRS. It's used to identify the tax accounts of employers and certain others who have no employees. The IRS uses the number to identify taxpayers who are required to file various business tax returns. EINs are used by employers, sole proprietors, corporations, partnerships, non-profit associations, trusts, estates of decedents, government agencies, certain individuals, and other business entities.
This section allows you to choose whether to restrict a owner from transferring that owner's equity to someone else. Restricting transferability of equity is a popular planning technique. It has two benefits:
The selections below allow you to choose whether to restrict transferability and, if you elect to do so, specify the conditions under which equity may be transferred.
Fiduciary duties are an important—but often overlooked—aspect of law. A fiduciary duty is a responsibility to act on behalf of another person and, where necessary, to put the other person's interest ahead of one's own. It is not uncommon for LLC and to be involved in different activities, some of which could be viewed as adverse to the interest of the LLC or other or .
The existence and scope of fiduciary duties is not clearly defined in . In this situation, it is particularly important for the to specify whether fidicuary duties should be included and, if so, to define the scope of a or fiduciary duties.
The options below allow you to limit the authority by requiring approval for certain fundamental business transactions. Select Yes for any action that requires approval. Select No for any action that the may take without approval.
Phantom income is income that is taxable to a owner even if the owner has not received cash to pay the tax. Phantom income is a common problem for LLCs and S corporations. You can read more about phantom income at How to Avoid Phantom Income.
In community property states, a owner's spouse generally has a community property interest in any equity that the owner acquires during the marriage. A spouse's community property interest can give a owner's spouse the ability to manage, control, or dispose of equity unless the spouses provide otherwise.
Community property rights can result in unintended consequences to the company and—if the company is or could be owned by multiple owners—to the other owners. A Spousal Consent attempts to avoid these consequences by having a owner's spouse consent to various terms of the operating agreement.
The nine community property states are Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin. Even if no owner lives in a community property state now, though, people are migratory. There is always the chance that a owner will move to a community property state.
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Information You Provide
Once they are recorded, deeds are a matter of public record. The information that we require to prepare the deed includes only the minimum amount necessary to identify the parties, the property, the preparer, and other elements. We anticipate that all of this information will become a matter of public record when the deeds are filed.
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