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Forming and operating an LLC or a corporation is a bit more complicated and than forming a partnership, but well worth the trouble for some small businesses. The main benefit of an LLC or a corporation is that these structures limit the owners' personal liability for business debts and court judgments against the business. What sets the corporation apart from all other types of businesses is that a corporation is an independent legal and tax entity, separate from the people who own, control and manage it. Because of this separate status, the owners of a corporation don't use their personal tax returns to pay tax on corporate profits -- the corporation itself pays these taxes. Owners pay personal income tax only on money they draw from the corporation in the form of salaries, bonuses, and the like. Like corporations, LLCs provide limited personal liability for business debts and claims. But when it comes to taxes, LLCs are more like partnerships: the owners of an LLC pay taxes on their shares of the business income on their personal tax returns. Corporations and LLCs make sense for business owners who either 1) run a risk of being sued by customers or of piling up a lot of business debts, or 2) have substantial personal assets they want to protect from business creditors. To learn more about forming an LLC or a corporation, see Nolo's articles on each topic at www.nolo.com
This depends on the policies of your State. In Oregon, for example, the entire process can be done on line with a credit card. It costs about $50.00 and takes less than an hour.
The Oregon website is: http://www.filinginoregon.com/
I used an excellent NY based company to set up my business LLC called USACORP they gave me excellent service and their price was also very competitive, they have a toll free no. 866.678.7226 they also have a nice web site usacorpinc.com.
To form an LLC you will have to fill out the application to the State which is called an Articles of Organization, you will need to submit this with a filing fee and you should receive your LLC within 5 to 10 business days.
The steps required to set up an LLC will depend upon your specific state's filing requirements. You will however need to file "articles of organization" at your secretary of state's office (a short form recording the name of the LLC, its members and their contact details). There will also be a filing fee. You should check your state's corporation office website for any other information that will be required. It is also useful to draft an "operating agreement" setting out what business you intend to undertake and what percentage ownership will be held by each member, for example. This can help resolve any future disputes.
Forming a limited liability company is much like any other process for forming a company. The best option here is to speak with an accountant to determine if an LLC structure for your business is ideal. Also confirm with them the process to get an LLC structure in place as this can vary from country to country.
You must submit an articles of incorporation, either online or mailed, to the secretary of state's office in the State where you reside.
You will need to submit an Articles of Organization to the Secretary of State where you live. There typically is a filing fee and the process can take anywhere from a few days to a month.
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Where can I get the forms I need to form an LLC?
You can fill out the form for FREE and you will not be charged for the formation of the LLC. You only need to pay for state fees. businessregistration.org/free-llc They can help with other LLC related compliance for a fee, but it's up to you if you want to use them for the other services they will form the LLC even if you don't use them for the other compliance services.
How do you form a LLC in Colorado?
There are a few simple steps to forming a LLC in Colorado. First off you'd need to choose a name for your LLC, then you'd need to file articles of organization, after that you'd need to appoint a registered agent, and 4 other steps.
Where can I find a legal document to form an LLC?
Many websites have these available for download. Findlaw.com is agreat resource for all sort of legal issues.
Where can I find Delaware LLC forms on the internet?
You can fill out the form FREE LLC and you will not be charged for the formation of the LLC. You only need to pay for state fees. Their team will do it for you businessregistration.org/free-llc They can help with other LLC related compliance for a fee, but it's up to you if you want to use them for the other services they will form the LLC even if you don't use them for the other compliance services.
What kind of application is needed to start an LLC?
You need a name registery form and to file papers with the state. Read more at http://smallbusiness.findlaw.com/business-structures/llc/forming-llc-checklist.html
What forms do I need to incorporate an LLC?
The form you need depends on the state you live in. Go to this website: http://www.getincnow.com/ and click on the state that you live in from the scroll down list under the yellow banner LLC.
Full form of llc?
The fullform of LLC isLimited Liability Company
What do you need to form an of llc?
You need an Articles of Organization from your State and enough money to pay the filing fee which ranges from $50 to $500.
Can General Contractors form an LLC in California?
Because they are independent contractors, it is highly recommended that they form an LLC or S-Corporation.
How do I start an LLC company?
You will need an attorney to form your Limited Liability Corporation (LLC), as the exact details vary by state. You will also have to pay fees to your state which could go up to $200.
What is the process for setting up an LLC?
Setting up a Limited Liability Company (LLC) can usually be done in an hour or less. Requirements can vary from state to state. You will need to contact your state's Secretary of State's office to obtain a copy of the LLC articles of organization form which you will need to complete to set up your company.
Does a bank needs an operating agreement on all their llc accounts?
You need an LLC to open a business account that is operated as an LLC but you do not need the LLC Operating Agreement (that is for you and the members) but once you set up the LLC you can go to the bank. :) go to http://ellcoperatingagreement.com to learn more!
