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What is an LLC? - Form an LLC (1/11)
 
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▶▶ Learn more about LLCs: http://llcuniversity.com ◀◀ In this video, we explain: - What is an LLC - Why form an LLC? - Protecting your personal assets - Speaking the LLC language - LLCs vs Corporations [=================================] -- WHAT IS AN LLC? -- LLC stands for Limited Liability Company. An LLC is a legal entity that protects your personal assets if your business is sued. An LLC is a Limited Liability Company. It is a legal entity (business structure) that is created by state law. An LLC can be used to run a business, or it can be used to hold assets (such as real estate, vehicles, boats, or aircraft). LLC Owners Are Called "Members" The owners of an LLC are called "members". An LLC can be owned by one person (called a Single-Member LLC). Or an LLC can be owned by two or more people (called a Multi-Member LLC). The LLC is created by filing LLC Formation Documents with your State and paying the filing fee. [=================================] -- WHY FORM AN LLC? -- The #1 reason to form an LLC is for personal asset protection. By forming an LLC you create a “protective wall” between your business and your personal assets. Your personal assets include everything that you own: your home, cars, trucks, bank accounts, investment properties, boats, jewelry, etc. -- AN ATTACK ON YOUR ASSETS -- If your LLC is sued, creditors can only attack the assets of your LLC to settle those business debts and liabilities. Your personal assets are safe and secure. They are not considered a part of the business. Again, without forming an LLC, your personal assets are at risk if your business is sued. [=================================] -- SPEAKING THE LLC LANGUAGE -- There are two common mistakes people make when talking about LLCs. "I want to form a Limited Liability Corporation." You cannot form a Limited Liability Corporation. There is no such thing. An LLC is a Limited Liability Company. Or “I’m going to LLC myself.” Again, this is incorrect. You cannot do that. You can't "LLC yourself". But, you can form an LLC for your business. An LLC is "separate and apart" from you. It is not you. You form the LLC. Then you own and manage that LLC. It's important that you understand the difference in these terms so you don't sound like an idiot and can speak intelligently about your business. [=================================] -- LLC vs CORPORATIONS - THE BASICS -- A lot of people ask us if they should form an LLC or form a Corporation. Let's discuss the major differences. LLCs don't have to elect a board of directors; Corporations do. LLCs don't need to hold board meetings; Corporations do. LLCs don't have to keep records of all their meetings; Corporations do. LLCs are not subject to double taxation; Corporations are. LLCs can distribute profits however they want; Corporations can't. In short, LLCs are the most popular and the most flexible business structure for business owners, entrepreneurs and real estate investors. LLCs are also inexpensive to setup. You'll pay a one-time filing fee to... [=================================] For the full article, please visit: http://llcuniversity.com [=================================]
Views: 31021 LLC University
How much does it cost to setup an LLC?
 
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➡ Full cost breakdown: https://www.llcuniversity.com/how-much-does-it-cost-to-setup-an-llc/ ✔ How much does it cost to form an LLC? The cost of your LLC will depend on how you go about forming it. You have 4 options: 1. DIY/do it yourself = $0-$300 2. Hire a lawyer = $1,050-$2,100 3. Use an online incorporation website = $199-$1,100 4. Go through our free online course = $0 The reason for the sliding scale is whether or not you need to hire a Commercial Registered Agent. You do not need hire a Commercial Registered Agent if: A. You have a street address located in the state where you're forming your LLC. B. A friend or family member has a street address located in the state where you're forming your LLC. You'll only need to hire a Commercial Registered Agent if If you don't have a street address located in the state where you're forming your LLC. /---------------------------------------/ No matter which route you go, make sure you get an Operating Agreement and obtain your EIN (Federal Tax ID Number) from the IRS. And watch out for any of the following unnecessary items/upsells on many websites: • forced Registered Agent fees • hidden annual renewals (check the fine print) • LLC kit & seal • certified copies (rarely needed) • free trials which convert to monthly fees • LLC membership certificates (not needed as membership interest is controlled via your Operating Agreement) • free domain names, website, logo, etc For full details, check out this guide: https://www.llcuniversity.com/how-much-does-it-cost-to-setup-an-llc/ Ask any LLC question here and get a reply in a few hours: https://www.llcuniversity.com/ask-llcu/
Views: 50321 LLC University
LLC Federal Tax ID Number (EIN)
 
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*IMPORTANT: Make sure your LLC is approved BEFORE applying for an EIN. If you do the EIN first, you’ll be attaching the EIN to yourself personally (as a Sole Proprietorship)... and therefore, your personal assets will not be protected. IRS Online EIN Application: https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online Our website: https://www.llcuniversity.com [=================================] -- WHAT IS AN EIN (FEDERAL TAX ID NUMBER)? -- A Federal Tax ID Number is issued by the IRS to business entities. It is also known as an EIN, or Employer Identification Number. For simplicity, we will refer to it as the EIN. An EIN is to a business what a Social Security Number is to an individual. It basically identifies your LLC to the IRS. Even though it is called an Employer Identification Number, it does not mean that you have to have employees. [=================================] -- WHAT IS ARE EINs USED FOR? -- EINs are used for: – Opening business checking, savings, or investment accounts. – Filing taxes. – Handling employee payroll (if applicable). – Obtaining business lines of credit or business loans. – Obtaining credit cards in the name of the LLC. – Applying for business licenses. [=================================] -- WHAT DOES AN EIN LOOK LIKE? -- An EIN is similar to a Social Security Number in that it has 9 digits. To differentiate an EIN from an SSN, there are 2 digits followed by a hyphen and then 7 more digits. An EIN will look like this: 68 – 3302189 [=================================] -- HOW MUCH DOES AN EIN COST? -- An EIN is free. You can obtain an EIN from the IRS: https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online (unfortunately, many websites charge $50 – $100) [=================================] -- ALREADY HAVE AN EIN? -- If you already have an EIN (before forming your LLC), it’s most likely attached to a Sole Proprietorship. This is quite a common mistake. You’ll need to close out that EIN and get a different one for your LLC (after your LLC is approved). Here’s how to close out an EIN: https://www.llcuniversity.com/cancel-ein/ [=================================] -- QUESTIONS DURING APPLICATION -- If you have any questions or if there are any errors messages that appear during your EIN online application, please contact the IRS at 800-829-4933. You can find additional IRS phone numbers at this link: https://www.irs.gov/uac/telephone-assistance [=================================] -- FOREIGN NATIONALS & ITIN -- If you are a foreign national and you need to apply for your ITIN please see the following information on the IRS’s website: https://www.irs.gov/Individuals/Individual-Taxpayer-Identification-Number-ITIN [=================================] -- OPENING A BUSINESS BANK ACCOUNT -- You will need your EIN and your approved LLC documents (Articles of Organization, Certificate of Organization, Certificate of Formation, etc) to open a business checking account. [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 83863 LLC University
LLC Registered Agent: Form an LLC (6/11)
 
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▶▶ Learn more about LLCs: http://llcuniversity.com ◀◀ This video explains: - What is a Registered Agent - What is a Registered Agent - Service of Process - Who can be your Registered Agent - Registered Agent Myths - How to save money on fees [=================================] -- WHAT IS A REGISTERED AGENT AND REGISTERED OFFICE? -- There needs to be a reliable street address (and a reliable point of contact) where legal documents can be delivered in case your LLC is sued. This is known as your Registered Office and Registered Agent. Your Registered Office must be a street address located in the state where your LLC is formed. Your Registered Office cannot be a PO Box address. Think of your Registered Office as the “home base” for your Registered Agent. Your Registered Agent should be available at this address during normal business hours to receive any documents on behalf of your LLC. Your Registered Office can be an actual office address, or it can be your home address, or even the address of a friend or family member. [=================================] -- SERVICE OF PROCESS -- Again, your Registered Agent must agree to accept delivery of legal documents related to any lawsuits against your LLC. Delivery of legal documents related to a lawsuit is known as Service of Process. Service of Process includes items such as complaints, summons, and/or subpoenas. Many states will also use your Registered Agent as a general point of contact for mailing you business & tax notices, payment reminders, and other documents. [=================================] -- WHO CAN BE YOUR REGISTERED AGENT? -- You have 3 options for designating your LLC’s Registered Agent: Option 1: You can be your LLC’s Registered Agent. Option 2: A friend or family member can be your LLC’s Registered Agent. Option 3: You can hire a Commercial Registered Agent for a fee. Note: There are a couple states that allow your LLC to serve as its own Registered Agent, but this is the exception to the rule. In 90% of the states your LLC cannot be its own Registered Agent. [=================================] -- HOW DO I KNOW WHICH ONE TO CHOOSE? -- It depends on whether or not you have a street address located in the state where you are forming your LLC. If you have a street address in the state, then choose Option 1. Option 1 is the most convenient and least expensive (it’s free!). This is what the majority of our customers do. If you don’t have a street address in the state, then choose Option 2 or Option 3. Choose Option 2 if you have a trusted friend or family member (who has a street address in the state). Since you won’t need to hire a Commercial Registered Agent, you’ll save yourself some money. If you (or friends or family members) don’t have an address in the state, then you will need to choose Option 3 and hire a Commercial Registered Agent. [=================================] -- COMMERCIAL REGISTERED AGENT -- A Commercial Registered Agent is a company that specializes in receiving Service of Process on behalf of businesses nationwide. They typically charge between $100-300 per year. Once hired, they will receive Service of Process on behalf of your LLC and then forward it to you by mail at any address you’d like. Most will also fax or email your documents if preferred. If you decide to hire a Commercial Registered Agent, we recommend Northwest Registered Agent. (Here’s a link to their website: http://www.northwestregisteredagent.com) They have been in business for more than two decades and their support is top notch. [=================================] To learn more about Registered Agents, visit: http://llcuniversity.com [=================================]
Views: 14768 LLC University
LLC Operating Agreement (template + instructions)
 
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Operating Agreement Download (Word Doc): https://www.llcuniversity.com/wp-content/uploads/Free-LLC-Operating-Agreement-v1.1.doc Operating Agreement Download (PDF): https://www.llcuniversity.com/wp-content/uploads/Free-LLC-Operating-Agreement-v1.1.pdf Operating Agreement Download (Google Docs): https://docs.google.com/document/d/1W8Fc-ksM4YQ8hAYWSE0yBLJQ0FyG1dJJuP6ZUod5fp0/copy Our website: https://www.llcuniversity.com [=================================] -- WHAT IS AN LLC OPERATING AGREEMENT? -- An Operating Agreement is an agreement for the member(s) of your LLC that sets forth how the LLC will be managed both financially and operationally. Your Operating Agreement also spells out how much of the LLC each member owns. You can have 1 member who owns 100%, you can have 2 members with a 50/50 split, 60/40, 70/30 (anything really!), or you can have 3 or more members and you can split the ownership any way you’d like. The LLC is a flexible business structure. There is no limit on the number of members you can have. And, there are no restrictions on how you split the ownership of the company. [=================================] -- OPERATING AGREEMENT IS AN “INTERNAL DOCUMENT” Unlike your LLC Formation Documents, the Operating Agreement does not need to be mailed anywhere. You do not need to mail it to the State. You do not need to mail it to the IRS. It is strictly an “internal document”. This means that you will just keep a copy with your other business documents. [=================================] -- PURPOSE OF THE LLC OPERATING AGREEMENT -- Again, the purpose of the Operating Agreement is to spell out who the member(s) are and what percentage of the LLC they own, also known as their “membership interest”. It also defines how the LLC is managed, how taxes are paid, and how profits and losses are distributed amongst the member(s). Remember, your LLC can be owned by one person (called a Single-Member LLC) or your LLC can be owned by 2 or more people (called a Multi-Member LLC). [=================================] -- WHAT YOU NEED FOR YOUR LLC OPERATING AGREEMENT -- In order to complete your Operating Agreement, you will need some basic information. • The formation date of your LLC. • The name and address of the Registered Office and Registered Agent. • The general business purpose of the LLC. • Member(s) percentages of ownership. • Names of the Members and their addresses. Your final Operating Agreement is not “set in stone”. You can make changes as needed. [=================================] -- MAKING CHANGES TO YOUR LLC OPERATING AGREEMENT -- One of the benefits of forming an LLC is the flexibility of managing your business. The Operating Agreement is a working document that is meant to be fluid and allow for changes as your business grows. If you want to make simple changes (such as a change of address for a member or changing your Registered Office or Registered Agent), you’ll need to revise the original Operating Agreement. If, however, you need to make complex changes (for example one member purchases the interests of another member, or you decide to raise financing with investors), it is best to hire an attorney. Making changes like these can have negative legal and tax consequences if done incorrectly. Once all changes are made, you’ll need to print the new Operating Agreement and have all of the members sign it. It is best practice to keep a copy of all versions of your Operating Agreement so you have a history of the changes that were made. [=================================] -- WHO NEEDS YOUR LLC OPERATING AGREEMENT? -- You may need to provide a copy of your Operating Agreement to: • A lender if you are obtaining financing • A title company if you are purchasing real estate • Accounting and tax professionals for financial assistance • Lawyers for legal advice • Potential investors or partners who have an interest in your business [=================================] -- OPERATING AGREEMENT PROTECTS YOUR ASSETS -- If you’re involved in a legal battle, the Court will likely ask for your LLC’s Operating Agreement. Having one can help prove to the Court that you have a legitimate LLC and that you are running your business properly. If the Courts were to find you running an LLC without an Operating Agreement, they may go after your personal assets. [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 79830 LLC University
New York LLC - Formation Documents (online filing)
 
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Step-by-step instructions: https://www.llcuniversity.com/new-york-llc/forms/ To form an LLC in New York, file your Articles of Organization with the Department of State. You can file your New York LLC Articles of Organization one of two ways; online or by mail. ONLINE - file Articles of Organization: http://www.dos.ny.gov/corps/index.html BY MAIL: file Articles of Organization: http://www.dos.ny.gov/forms/corporations/1336-f.pdf The name of the LLC Formation Document for the State of New York is called the Articles of Organization. This document is not complicated and it contains basic information, including your LLC's name, your LLC's office address, and the county where your LLC office is located. There are two ways you can file your Articles of Organization with the State. You can file by mail or you can file online. If you file by mail, you will print out your Articles of Organization and then mail them to the State along with a check or money order to pay the filing fee. If you file online, you will fill out your Articles of Organization on the State's website and then pay the filing fee with a debit or credit card. The State charges a one-time fee in order to form your LLC. If you chose to hire a Registered Agent for your New York LLC, you will also list their address in your Articles of Organization. [=================================] -- FILING FEE -- $200 -- ACCEPTED FORMS OF PAYMENT -- Check or Money Order / Debit or Credit Card [=================================] -- FILING BY MAIL INSTRUCTIONS -- Mail your Articles of Organization with your check or money order (for $200, made payable to the “Department of State”) to: Department of State Division of Corporations One Commerce Plaza 99 Washington Avenue Albany, NY 12231 [=================================] -- EXPECTED APPROVAL TIME -- The filing fee amount is the same for either option. The only difference is the method of payment and the approval time. If you file by mail, you'll pay the State filing fee with a check or money order, and your LLC will be approved in 1-2 weeks. If you file online, you'll pay the State filing fee with a debit or credit card, and your LLC will be approved within a few minutes. [=================================] -- WHAT DOES APPROVAL LOOK LIKE -- Once you submit your Articles of Organization along with the filing fee, the State will review and process your documents. If there are any issues with your filing, the State will contact you and tell you what corrections need to be made. If you filed by mail and there are no issues, your LLC will be approved in 1-2 weeks. If you filed online and there are no issues, your LLC will be approved within a few minutes. Either way, you will receive a Filing Receipt back from the State once your LLC is approved. This confirms your LLC is now a legally formed business in the State of New York. [=================================] -- FILING RECEIPT -- Your Filing Receipt will contain your LLC's name, the date filed, and your Department of State ID Number (DOS ID Number). The DOS ID Number is unique to your New York LLC and you will use it when dealing with the State. New York does not issue duplicate Filing Receipts, so it's very important to make a photocopy, or two, and keep the photocopy with your business records. [=================================] -- NEW YORK SECRETARY OF STATE -- 518-473-2492 (M-F: 9:00am – 4:30pm) [email protected] http://www.dos.ny.gov/corps/contact.html [=================================] -- NEXT STEP -- Once your LLC is approved you can proceed to the Operating Agreement Lesson: https://www.youtube.com/watch?v=XtmC8IlHAC0 [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 20665 LLC University
LLC vs. Corporation vs. Sole Proprietorship: Form an LLC (3/11)
 
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▶▶ Learn more about LLCs: http://llcuniversity.com ◀◀ In this video, we explain: - Why LLCs are the best structure for the majority of entrepreneurs - Why Sole Proprietorships offer no protection whatsoever - Why Corporations are complex and subject to double taxation [=================================] -- WHAT IS AN LLC? -- An LLC is a Limited Liability Company. It is a legal entity (also known as a business structure) and it can be used to run a business, or it can be used to hold assets (such as real estate, boats or aircraft). The owners of an LLC are called "members". An LLC can be owned by one person (called a "Single-Member LLC") or an LLC can be owned by two or more people (called a "Multi-Member LLC"). An LLC is a business structure designed specifically to protect your personal assets from the liabilities of the business. [=================================] -- WHAT IS A CORPORATION? -- A Corporation is also a legal entity and it is most often used to run a large company with shareholders and investors. The owners of a Corporation are called "shareholders". After you form a Corporation, you must also elect a Board of Directors (to oversee the company) and you must elect Corporate Officers (to execute and run the day-to-day business). Corporations are what we typically think of when we hear Microsoft, Apple, IBM, McDonalds, etc. [=================================] -- WHAT IS A SOLE PROPRIETORSHIP? -- A Sole Proprietorship is when a person does not form a business entity and they operate their business as themselves. In the eyes of the law, you ARE your business. This is a very risky setup because if your business is sued, then you are personally responsible for all debts and liabilities. This means that your personal assets (home, cars, and your bank accounts) are at risk of being used to cover those debts and liabilities. We'll save you some time right off the bat... a Sole Proprietorship = a bad idea. A Sole Proprietorship offers you no protection whatsoever. A Sole Proprietorship is typically setup when someone is unaware of the options they have when it comes to setting up their business structure. In essence - a Sole Proprietorship is not protecting anything. Not you. And not your personal assets. [=================================] -- WHICH IS BEST FOR YOU? -- To learn which business structure is best for you, please visit our website for the full article: http://llcuniversity.com
Views: 21347 LLC University
Federal Tax ID Number (EIN): Form an LLC (9/11)
 
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▶▶ Learn more about LLCs: http://llcuniversity.com ◀◀ This video explains: - What are EINs used for - What does an EIN look like - How much does an EIN cost - How to obtain an EIN [=================================] -- FEDERAL TAX ID NUMBER (EIN) -- A Federal Tax ID Number is issued by the IRS to business entities. It is also known as an EIN, or Employer Identification Number. For simplicity, we will refer to it as the EIN. An EIN is to a business what a Social Security Number is to an individual. It basically identifies your LLC to the IRS. Even though it is called an Employer Identification Number, it does not mean that you have to have employees. [=================================] -- WHAT ARE EINs USED FOR? -- EINs are used for: – Opening business checking, savings, or investment accounts. – Filing taxes. – Handling employee payroll (if applicable). – Obtaining business lines of credit or business loans. – Obtaining credit cards in the name of the LLC. – Applying for business licenses. [=================================] -- WAIT FOR LLC APPROVAL -- You must wait until your LLC is approved by the state before obtaining your EIN. You do not want to have any issues with an EIN assigned to the wrong LLC (dealing with the IRS to cancel an EIN is a pain in the neck). [=================================] -- WHAT DOES AN EIN LOOK LIKE? -- An EIN is similar to a Social Security Number in that it has 9 digits. To differentiate an EIN from an SSN, there are 2 digits followed by a hyphen and then 7 more digits. An EIN will look like this: 68 – 3302189 [=================================] -- HOW TO OBTAIN AN EIN -- EINs can be obtained in 3 ways: by mail, by fax, or via the IRS’s online application. An EIN by fax takes 4 days. Too long. An EIN by mail can take up to 4 weeks. Way too long. An EIN by online application takes 15 minutes. Your EIN will be issued immediately after you answer all of the questions in the online application. You will then be able to save and print your new EIN, as well as your Confirmation Letter. Make sure to save copies of these and keep them with your LLC documents. [=================================] -- HOW MUCH DOES AN EIN COST? -- An EIN is free. No, really, they’re completely free. You can obtain an EIN from the IRS. Unfortunately, many websites will charge you $50 – $100. (We show you how to obtain your EIN for free when you join the LLC Formation Course: http://llcuniversity.com) [=================================]
Views: 23000 LLC University
When to Form an LLC for Real Estate?
 
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Need to form your LLC? https://www.llcuniversity.com Let’s talk about a major mistake that real estate investors make: when to form an LLC for real estate… We get phone calls like this all the time: “Hey, I just did some research and realized I need to setup an LLC for my real estate in order to protect my assets.” The very first thing I ask is, “Did you close on the property already?” Far too many real estate investors say “Yes.” I shout through the phone: “Nooooooooooo!” (picture that scene in the movie where the main character just looses his best friend) Okay, I don’t shout through the phone. But instead, I have to help them get their head straight. They’ve learned that they need to set up an LLC for their investment properties so that they can protect their personal assets, but they already bought their property in their name. They think that just setting up the LLC is going to somehow magically protect their assets. That’s not the case. If you think about it, those properties are owned by you personally. Just setting up an LLC does not automatically “attach” it to the property. In fact, the LLC is not affiliated with the property at all. I wish just forming an LLC magically protects all we do. But nope. It doesn’t work that way. You’re creating an entity. That entity, therefore, needs to own the property and “do the business”. What I mean by that is the LLC is purchasing the real estate, not you. Your purchase contract/agreement of sale, the deed, and any financing… all of that has to be in the name of the LLC. The LLC needs to hold title to the property, not you personally. Continue reading article: https://www.llcuniversity.com/real-estate-llc/when-to-form-llc-real-estate/
Views: 32999 LLC University
Protect Your Assets: Form an LLC (2/11)
 
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▶▶ Learn more about LLCs: http://llcuniversity.com ◀◀ In this video, we explain: - The biggest "newbie" mistake entrepreneurs make - How to protect your personal assets if your business is sued - What a Legal Entity/Business Entity really is - Natural Person vs. Legal Person - Personal liability protection [=================================] -- #1 NEWBIE MISTAKE -- As entrepreneurs, we're often told to think big and move fast. Thinking big is very important to success... But moving too fast can often be dangerous. Especially in the beginning. Many new entrepreneurs jump into their business way too quickly, overlook important details, and then they make costly financial and legal mistakes. These mistakes could seriously jeopardize the long-term success of your business. The biggest "newbie" mistake is not setting up a Legal Entity for your business. If you don't create a Legal Entity, the law will view your business as a Sole Proprietorship (if there is 1 owner) or a Partnership (if there are 2 or more owners). Both a Sole Proprietorship and a Partnership leave your personal assets exposed. If a Sole Proprietorship or Partnership is sued, the owner's personal assets (like your home, your cars, your bank accounts, etc.) are at risk of being used to settle business debts and liabilities. So what kind of options do you have for setting up a Legal Entity? The most common Legal Entities that people form are LLCs and Corporations. But, before we get into the details, it is important to first understand their foundation. Let's discuss what a Legal Entity really is... [=================================] -- LEGAL ENTITY/BUSINESS ENTITY -- A Legal Entity is the same thing as a Business Entity, and we're going to jump back and forth between the two terms in order for this discussion to make more sense. In the eyes of the law, a Business Entity is a "Legal Person". In the eyes of the law, you and I are "Natural Persons". A Natural Person is a living, breathing human being that functions independently and makes decisions on their own. A Legal Person is only functional through the work and actions of Natural Persons acting on its behalf. A Legal Person is considered by law a separate and distinct "person" from its owners. -- "PROTECTIVE WALL" -- This separation is what creates a "protective wall" between your assets and the assets of the business...therefore, this keeps your personal assets safe if your business was to be sued. Think of a Natural Person as a regular human being like you and I. Think of a Legal Person as a Corporation like Microsoft or IBM, or even companies like your local grocery store or bike shop. Although a Business Entity is not an actual living, breathing person, it shares many of the same rights and responsibilities as you and I do. -- WHAT CAN A BUSINESS ENTITY DO? -- - It can make money, - own property (such as real estate, boats or aircraft), - enter into contracts and agreements, - open bank accounts, - it can sue and be sued, and - pay taxes Basically, the only thing a Legal Entity can't do is vote in an election, run for political office, or do laundry. By setting up a Legal Entity, you are creating a business organization that can interface with customers, clients, vendors and more. [=================================] -- PERSONAL LIABILITY PROTECTION -- And most importantly, by setting up a Legal Entity you are keeping your personal assets safe. In the event of a lawsuit, creditors can only go after the assets of the Legal Entity, and that is all they can get... They cannot get to your personal assets. Personal liability protection is the #1 reason that people set up a Business Entity. The two main types of Business Entities that people form are Corporations and Limited Liability Companies (LLCs). We compare these in more detail in our "Sole Proprietorship vs. LLC vs. Corporation" video. [=================================] -- WHICH IS BEST FOR YOU? -- To learn which Business Entity is best for you, visit our website: http://llcuniversity.com [=================================]
Views: 15253 LLC University
Choosing Your LLC Name: Form an LLC (5/11)
 
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▶▶ Learn more about LLCs: http://llcuniversity.com ◀◀ This video explains: - How to search your LLC name - LLC name requirements - LLC name restrictions - Distinguishability [=================================] -- YOUR LLC NAME -- A well chosen LLC name can be essential to your business success. Your name will last for many years and will be an important part of your brand - your company's reputation. Here are a few quick tips to keep in mind when you are brainstorming options for your name. - Make your LLC name easy to spell. You want to make sure people can find you when they’re looking for you. - Make your LLC name short. Shorter names are easier for people to remember. It also makes it easy for people to refer you to their friends. - Make your LLC name have a positive connotation. Leave people with a good feeling when they hear about your business. [=================================] -- IS YOUR LLC NAME TAKEN? -- In order to make sure your desired LLC name is available for use, you will need to search it against the existing companies on your state’s database. We will walk you thru this step-by-step in another lesson. You need to know if your name is taken, so you can: - Avoid infringing upon someone else’s name rights. - Differentiate your business name from existing companies. - Make sure your desired LLC name is available for use before you file your documents. [=================================] -- NAME REQUIREMENTS FOR YOUR LLC -- Your LLC name must end with the words “Limited Liability Company", or the abbreviations: "L.L.C." or "LLC". Using the abbreviation "LLC" is the most common. For example, Joe wants to start a company by the name "Joe's Landscaping Services". Since he is forming an LLC, he must use the name "Joe's Landscaping Services, LLC". Again, using the abbreviation "LLC" (or the full word) is a requirement when forming an LLC. [=================================] -- NAME RESTRICTIONS FOR YOUR LLC -- Your LLC name cannot imply that it is a corporation. You are not allowed to use the words “Corporation” or “Incorporated”, or the abbreviations “Corp.” or “Inc.” anywhere in your LLC name. Let's look at our example again. Since Joe wants to form an LLC, he cannot call his company "Joe's Landscaping Services Inc." or "Joe's Landscaping Services Incorporated". [=================================] -- DISTINGUISHABILITY -- Your desired LLC name must also be “distinguishable”. This means it cannot be too similar to the names of existing companies that are found in the results during the search of the database. The state will not approve your LLC if there is an existing company with your desired LLC name or if your name is too similar to an existing company. [=================================] -- SEARCHING YOUR LLC NAME? -- To find out if your LLC name is taken, visit: http://llcuniversity.com [=================================]
Views: 15490 LLC University
LLC Annual Fees by State
 
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NOTE: Some fees have changed since recording this video. Check updated annual LLC fees on the LLC University website: https://www.llcuniversity.com/llc-annual-fees-by-state/ Most states (but not all) require that your LLC file an Annual Report and pay annual fees. The average LLC annual fee in the US is $101. Most states call this the Annual Report, however, it has many other names: – Annual Certificate – Annual List of Members – Annual Registration Fee – Biennial Report – Biennial Statement – Business Privilege Tax Return – Decennial Report – Franchise Tax Report – Periodic Report – and more [=================================] -- LLC ANNUAL FEES & DUE DATE -- Alabama, $100 minimum, 2.5 months after formation Alaska, $100, Biennial, January 2nd Arizona, $0, No annual fee + no report due Arkansas, $150, Annual, May 1st California, $800 + $20, Various "Colorado, $10, 5 month window surrounding anniversary month" Connecticut, $20, Annual, anniversary date Delaware, $300, Annual, June 1st D.C., $300, Initial April 1st, then Biennial April 1st Florida, $138.75, Annual, May 1st Georgia, $50, Annual, April 1st Hawaii, $15, During quarter of anniversary date Idaho, $0, Annual, anniversary month Illinois, $75, Annual, anniversary month (used to be $250) Indiana, $30, Biennial, anniversary month Iowa, $60 by mail or $45 online , Biennial, April 1st of odd years (used to be $45 by mail and $30 online) Kansas, $55, Annual, April 15th Kentucky, $15, Annual, June 30th Louisiana, $35, Annual, anniversary month Maine, $85, Annual, June 1st Maryland, $300, Annual, April 15th Massachusetts, $500, Annual, anniversary month Michigan, $25, Annual, February 15th Minnesota, $0, Annual, December 31st Mississippi, $0, Annual, April 15th Missouri, $0, No annual fee + no report due Montana, $20, Annual, April 15th Nebraska, $10, Biennial, April 1st of odd years Nevada, $500, $150 due month of filing. $350 annually, anniversary month New Hampshire, $100, Annual, April 1st New Jersey, $53, Annual, anniversary month New Mexico, $0, No annual fee + no report due New York, $9, Biennial, anniversary month North Carolina, $200, Annual, April 15th North Dakota, $50, Annual, November 15th Ohio, $0, No annual fee + no report due Oklahoma, $25, Annual, anniversary month Oregon, $100, Annual, anniversary month Pennsylvania, $70, Every 10 years Rhode Island, $50, Annual, September 1st South Carolina, $0, No report due unless you file taxes as an S-Corp South Dakota, $50, Annual, anniversary month Tennessee, $300 minimum, Annual, April 1st Texas, $0, Annual, May 15th Utah, $15, Annual, anniversary month Vermont, $35, Annual, March 15th Virginia, $50, Annual, anniversary month Washington, $81, Initial $10, within 120 days of filing. $71 annual, anniversary month. West Virginia, $25, Annual, July 1st Wisconsin, $25, Annual, anniversary quarter Wyoming, $50 minimum, Annual, anniversary month [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 14475 LLC University
California LLC - Formation Documents
 
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Step-by-step instructions: https://www.llcuniversity.com/california-llc/forms/ To form an LLC in California, file your Articles of Organization with the Secretary of State. Articles of Organization: http://bpd.cdn.sos.ca.gov/llc/forms/llc-1.pdf A Limited Liability Company is a hybrid between a Corporation and a Sole Proprietorship. An LLC protects your assets in the event of a lawsuit. Once your documents are approved and sent back to you, your LLC is now in existence and authorized to do business in California. [=================================] -- FILING FEES -- $70 -- ACCEPTED FORMS OF PAYMENT -- Check or Money Order -- MAKE PAYABLE TO -- “Secretary of State” [=================================] -- FILING INSTRUCTIONS -- Mail a copy of your Articles of Organization and your check or money order for $70 made payable to the “Secretary of State” to: Secretary of State Business Entities PO Box 944228 Sacramento, CA 94244-2280 [=================================] -- EXPECTED APPROVAL -- You will receive your approval in approximately 10-15 business days. -- NEXT STEP -- Once your LLC is approved you can proceed to Lesson: https://www.llcuniversity.com/california-llc/operating-agreement [=================================] -- COMMERCIAL REGISTERED AGENT -- A Commercial Registered Agent is a company that specializes in receiving Service of Process on behalf of businesses nationwide. They typically charge between $100-300 per year. They will receive Service of Process on behalf of your LLC and then forward it to you by mail at any address you'd like. Most will also fax or email your documents if preferred. We recommend a company called Northwest Registered Agent; they have been in business for more than two decades and they have a solid reputation. Their fees are among the most affordable, and their support is top notch. Use the following link to sign up with Northwest Registered Agent: https://www.llcuniversity.com/go/california-registered-agent/ [=================================] -- CALIFORNIA SECRETARY OF STATE -- 916-653-3794 (LLC Unit; Press 0+0, disregard prompt, press 0+0 again) 213-897-3062 (LA Regional Office) 916-657-5448 (Main line; support is non-existent) http://www.sos.ca.gov/contacts.htm [=================================] -- NEXT STEP -- Once your California LLC is approved, you can then proceed to the next Lesson: https://www.youtube.com/watch?v=XtmC8IlHAC0 [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 21876 LLC University
How to Form an LLC in Colorado (the 5 steps)
 
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➡ Full article: https://www.llcuniversity.com/how-to-form-an-llc-in-colorado/ Starting a Colorado LLC: The main reason why people form an LLC in Colorado is to protect your personal assets. A Colorado LLC, or Limited Liability Company, is a type of business entity formed under Colorado law. An LLC gives you personal liability protection in case your business gets sued. A Colorado LLC can run a business, hold assets (like real estate, boats, planes, and other vehicles), make money, own and lease property, enter into contracts, open a bank account, and sue and be sued. A Colorado LLC creates a wall of protection between your business and personal assets. Your personal assets are protected in the event your business gets sued. There are 5 steps to forming an LLC in Colorado. They are: 1. Choose a Name for your LLC 2. Select your LLC’s Registered Agent 3. File your LLC’s Articles of Organization 4. Draft and sign your LLC’s Operating Agreement 5. Get your LLC’s EIN (Employer Identification Number) To make sure your LLC remains in good standing with the State after it’s been formed, you’ll need to: • Filing your LLC’s Periodic Report (due every year) • Paying your LLC’s Taxes Continue reading: https://www.llcuniversity.com/how-to-form-an-llc-in-colorado/ /---------------------------------------/ -- QUESTIONS -- Ask any LLC question here: https://www.llcuniversity.com/ask-llcu/ -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 4300 LLC University
Texas LLC - Formation Documents
 
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Step-by-step instructions: https://www.llcuniversity.com/texas-llc/forms/ To form an LLC in Texas, file your Certificate of Formation with the Secretary of State. Certificate of Formation: http://www.sos.state.tx.us/corp/forms/205_boc.pdf Consent to Serve as Registered Agent: http://www.sos.state.tx.us/corp/forms/401-a-boc.pdf Your Texas LLC is required to list a Registered Office and a Registered Agent in your Certificate of Formation. A Registered Agent is a person or a company who agrees to accept legal mail and important documents on behalf of your LLC. The Registered Office is a physical address (cannot be a PO Box) located in Texas. The Registered Agent is located at the Registered Office and is generally accessible during normal business hours. You, as an individual, can be your LLC’s Registered Agent. However, your LLC cannot be its own Registered Agent. [=================================] -- COMMERCIAL REGISTERED AGENT -- We recommend Northwest Registered Agent: https://www.llcuniversity.com/go/texas-registered-agent/ (using a Registered Agent offers a degree of privacy when forming your Texas LLC) [=================================] -- FILING FEE -- $300 -- ACCEPTED FORMS OF PAYMENT -- Check or Money Order [=================================] -- FILING INSTRUCTIONS -- Mail two (2) copies of your Certificate of Formation and your check or money order for $300 made payable to the “Secretary of State” to: Corporations Sections Secretary of State PO Box 13697 Austin, TX 78711 The “Consent to Serve as Registered Agent” form does not need to be mailed in with your Certificate of Formation. In fact, you don’t need to mail this document anywhere. It is an “internal document”, meaning you will just need to keep it with your business records. [=================================] -- EXPECTED APPROVAL TIME -- You will usually receive approval of your filing within 5-7 business days. [=================================] -- WHAT DOES APPROVAL LOOK LIKE -- Once you mail the filing fee, along with two (2) completed copies of the Certificate of Formation, you can expect two things: First, within 5-7 business days, the State will send you back a copy of the Certificate of Formation with a stamp of approval. Second, in approximately two (2) months, you will get a letter from the Texas State Comptroller (the division responsible for tax related items). This letter will instruct you on filing your annual Franchise Tax Report, which all LLCs in Texas are required to file. Your LLC is now a legally formed business in the State of Texas. Until you have confirmation your LLC has been officially approved, do not order your EIN (Federal Tax ID Number) or start to use your LLC for business purposes. [=================================] -- ANNUAL REPORTING & TAXES -- Even if your LLC does not generate revenue or have business activity within a given tax year, you will still be required to file this annual paperwork with the State. We highly recommend that you hire a tax professional when dealing with taxes for your LLC. Your LLC is required to file two (2) documents on a yearly basis. The first is the Franchise Tax Report which is filed with the Texas State Comptroller, not the Corporations Section. The second is a Public Information Report (or PIR) that must also be submitted with the Franchise Tax Report. These reports are not easy to complete yourself. They are tax documents and we recommend you get help from your accountant or tax professional because you will need to decipher gross receipts, dividends, interest, losses, gains and other financial details. [=================================] -- TEXAS SECRETARY OF STATE -- 512-463-5555 http://www.sos.state.tx.us/corp/contact.shtml [=================================] -- NEXT STEP -- Once your LLC is approved, you can proceed to the next Lesson: https://www.youtube.com/watch?v=XtmC8IlHAC0 [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 23264 LLC University
LLC Formation Documents: Form an LLC (7/11)
 
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▶▶ Learn more about LLCs: http://llcuniversity.com ◀◀ This video explains: - What are LLC Formation Documents? - Filling Out Your Documents - How to File LLC Formation Documents - State Filing Fees - Which State is the Best? - Where do I Get the Forms? [=================================] -- WHAT ARE LLC FORMATION DOCUMENTS -- In order to form your LLC, you must file LLC Formation Documents and pay your State filing fee. LLC Formation Documents are the state-specific forms that officially create your LLC. These documents are often referred to as your Articles of Organization, Certificate of Organization, or Certificate of Formation. Some states also require additional documents in order to create your LLC. [=================================] -- FILLING OUT YOUR LLC FORMATION DOCUMENTS -- Your LLC Formation Documents will contain your LLC’s name, your office address, your effective date and your Registered Agent information. Many states require additional information (or additional documents) to be filed with your LLC Formation Documents. Since the LLC Formation Documents are state-specific, we needed to create 50 individual lessons that walk through how to file them step-by-step for each state. These video lessons are available inside the LLC Formation Course™ and customized to the requirements of your state. [=================================] -- HOW TO FILE LLC FORMATION DOCUMENTS -- Generally, there are two ways you can file your LLC Formation Documents with your State. You can send your LLC Formation Documents by mail or you can fill out your LLC Formation Documents online and submit them electronically. The State will charge a one-time fee in order to form your LLC. There are no monthly fees to form an LLC. The fees vary by state and you can find them listed below. If you send your LLC Formation Documents by mail you will pay your state filing fee with a check or money order. If you fill out your LLC Formation Documents online and submit them electronically you will pay your state filing fee with a debit or credit card. [=================================] -- STATE FILING FEES & FORMS -- Please visit our website for a list of all state fees and access to LLC formation documents: http://llcuniversity.com [=================================]
Views: 9481 LLC University
New York LLC - Publication Requirement (Part 1)
 
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Step-by-step instructions: https://www.llcuniversity.com/new-york-llc/publication-requirements-part-1/ By law, every LLC formed in New York is required to notify the public of its formation by publishing an ad in two newspapers. One newspaper must have a daily circulation and the other newspaper must have a weekly circulation. For each the daily and the weekly newspapers, your ad just needs to appear once per week for those 6 consecutive weeks. Your ad must run in both newspapers for 6 consecutive weeks. Your ads must be published within 120 days of your LLC's approval date. We want you to know about this requirement before you form your LLC because it affects how much you will pay in publication costs. [=================================] -- COST OVERVIEW -- There are 2 costs associated with your Newspaper Publication Requirement. The first of these is the cost to place the ads in the newspapers. The costs to place the ads will vary depending on the county in which you publish. The second cost is filing what's called a Certificate of Publication ($50). This is your certification to the State that you've met the Newspaper Publication Requirement. [=================================] -- NEWSPAPER PUBLICATION COSTS -- The office address that you list in your LLC Formation Documents determines the county where you are required to publish your ads. Publication costs in Manhattan County will be $1,000 - $1,500. On the other hand, the least expensive county is Albany County, where the publication costs will be $75-$100. You can publish by using an address located in Albany County, even if your LLC is not actually located there. New York requires that you list an LLC "office address" in your LLC Formation Documents. However, this address does not have to be your LLC's actual office address. It just needs to be an address located in the State where your LLC is able to receive mail. You can accomplish this by using our strategy - which is hiring a Registered Agent located in Albany County and then using their address in your LLC Formation Documents. [=================================] -- COST ANALYSIS -- To determine how much money our strategy can save you, you first need to call a weekly newspaper and a daily newspaper in the county where your LLC is actually located and obtain their publication costs. You will then compare those publication costs with the costs of using our strategy. If running ads in your actual county will cost you less than $300, then our strategy will not save you any money. If this is the case, just use your actual address in your LLC Formation Documents and publish your ads in your actual county. [=================================] -- COMMERCIAL REGISTERED AGENT -- https://www.llcuniversity.com/go/new-york-registered-agent/ [=================================] -- WHAT YOU CAN EXPECT -- Here is a breakdown of what it will cost you to hire Northwest Registered Agent, run ads in Albany county, and then file a change of address after you have met your Newspaper Publication Requirement. Hiring Northwest Registered Agent: $125 Publishing in Times Union Daily: $60 (daily newspaper) Publishing in Altamont Enterprise: $35 (weekly newspaper) Change of Address: $30 TOTAL COSTS: $250 So, if total costs to use our strategy are approximately $250, then anyone who expects to spend $300 or more in publication costs will see significant savings. [=================================] -- CALL THE COUNTY CLERK -- Call your County Clerk and obtain the phone numbers for two approved newspapers. One daily newspaper and one weekly newspaper. Then, call both newspapers and obtain their publication costs. Check the Savings Breakdown Table below to see if you can save money by publishing in Albany County (instead of your actual county). List of County Clerks: http://www.nysac.org/countyclerks [=================================] -- NEXT STEPS -- If there are no savings, you will just use your actual address in your LLC Formation Documents and publish your ads in your actual county. If there are savings, then we recommend you hire Northwest Registered Agent, use their address in your LLC Formation Documents and publish your ads in Albany County. Once you have determined what address you will use in your LLC Formation Documents and what county you will publish your ads in, you can proceed to the next Lesson: https://www.youtube.com/watch?v=AYp9samR9W8 [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 9470 LLC University
LLC Taxes: Form an LLC (11/11)
 
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▶▶ Learn more about LLCs: http://llcuniversity.com ◀◀ This video explains: - LLC taxes - How to find a good CPA/accountant - How to look for compatibility [=================================] -- LLC TAXES -- Be smart. Don’t be an idiot and try to do your taxes yourself. Hire a professional. Depending on your type of business, you will need to register your LLC with the state’s finance department. You will also need to file annual state income taxes as well as other tax documents depending on the structure of your business and whether or not you have employees. Calculating your tax obligations can be complicated and if done improperly can negatively impact your LLC. [=================================] -- HIRE A PROFESSIONAL -- We recommend that you get help from a tax professional once your LLC is formed. Hiring a tax professional will not only help you keep your LLC in compliance with the state, but it will also give you an advisor to go to for other business questions. Whether your business turns a profit or loses money, you will still need to file tax documents every year. This is not something to be taken lightly. If you want to run a serious business and not get into trouble with the state, you should get assistance in filing your taxes properly. [=================================] -- HOW TO FIND A GOOD CPA/ACCOUNTANT -- A referral from a friend or someone else you trust is usually the best way to find someone to do your taxes. You can also ask co-workers, acquaintances from local clubs or organizations, your neighbors, and other business people. You could also ask your Twitter, Facebook, LinkedIn or other social media friends and maybe find a trusted name from a friend of a friend. You would just type into your social media account, “Hey, I just formed an LLC. Anyone know a good accountant?” If you can’t get a personal referral, then try doing a search online for “accountant” or “certified public accountant” and looking for someone with a strong track record. [=================================] -- LOOK FOR COMPATIBILITY -- You should also want someone who’s a good fit for your company, makes you feel comfortable, and is willing to answer all of your questions. It should be someone you like personally as well as professionally. It’s okay to take your time to find the right person. We recommend talking with at least 2-3 people before making your final decision. [=================================] To learn more forming an LLC, visit: http://llcuniversity.com [=================================]
Views: 5861 LLC University
LLC Annual Report: Form an LLC (10/11)
 
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▶▶ Learn more about LLCs: http://llcuniversity.com ◀◀ This video explains: - The purpose of the Annual Report - Filing fee and due date - How to file and pay your Annual Report - Consequences of not filing - Where do I get my Annual Report? [=================================] -- LLC's ANNUAL REPORT -- Once your LLC is formed, paperwork with the state is not over. As a part of the ongoing requirements for your LLC, your state requires that you file an Annual Report and pay a filing fee every year. The Annual Report can take many names: – Annual Report – Annual Statement – Statement of Information – Periodic Report – Biennial Statement – Decennial Report – And more And not all Annual Reports are “annual”. Some may be required to file every year, some every 2 years, and some may be fortunate enough to only have to file every 10 years. It just depends on your state and their requirements. Since most states refer to the report as the Annual Report, we will do so as well just for simplicity. [=================================] -- PURPOSE OF THE ANNUAL REPORT -- The purpose of the Annual Report is to keep your LLC in compliance and in good standing. Additionally, it keeps the state updated with your LLC’s contact information. If you fail to file your Annual Report, the state will automatically dissolve (shut down) your LLC. Your Annual Report will include your LLC name, your office address, your Registered Agent information, and an “LLC Number” from your Secretary of State. The “LLC number” is just a number that your state uses to reference your LLC. The easiest way to understand it is to think of it like your LLC’s “driver’s license number”. [=================================] -- FILING FEE AND DUE DATE -- Filing fees and due dates for the Annual Report vary by state. Filing fees can range from $9/year up to $800/year. Some Annual Reports are due every year. Some Annual Reports are due every 2 years. And, some Annual Reports are due every 10 years. Again, it all depends on your state and its requirements. [=================================] -- HOW TO FILE AND PAY YOUR ANNUAL REPORT -- Generally, there are two ways you can file your Annual Report with your state. You can file by mail or you can file online. If you file by mail, you will fill out your Annual Report with a blue or black pen by hand (or you can fill it out on your computer). Next, you will make a copy for your business records and then mail it to the State along with a check or money order to pay the filing fee. If you file online, you will prepare and submit your Annual Report on the State’s website and pay the filing fee with a debit or credit card. Regardless of what option you choose, it is important that you file your Annual Report on time. [=================================] -- WHERE DO I GET MY ANNUAL REPORT -- Many people file their Annual Report themselves after their LLC is formed. If you have formed an LLC: But you are not sure how to get your Annual Report from the state, you can visit your state’s website and contact them for guidance. For list of all state links, visit: http://llcuniversity.com If you hired a company to form your LLC, then you need to verify whether they will file it on your behalf (and charge you to do so), or if you need to file it on your own. Remember, just because you paid a company to form your LLC, the Annual Report is ultimately your responsibility in order to keep your LLC in compliance and in good standing. If you have not formed your LLC yet: Don’t worry, you only have to file your Annual Report AFTER you form your LLC. If you hire a company to form your LLC, just make sure to find out whether they will file your Annual Report for you or if you need to do it yourself. If you join our online course (http://llcuniversity.com), we’ll show you how to file your Annual Report. We’ll also give you the specifics on filing fees and due dates for your state. In summary, it is important to make sure you file your Annual Report on time, so your LLC remains in compliance with your state. → Learn more here: http://llcuniversity.com [=================================]
Views: 8735 LLC University
LLC Operating Agreement: Form an LLC (8/11)
 
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▶▶ Learn more about LLCs: http://llcuniversity.com ◀◀ This video explains: - What is an Operating Agreement? - Purpose of the Operating Agreement - Who needs your Operating Agreement? - Operating Agreement protects your assets - Where can I get an Operating Agreement? [=================================] -- WHAT IS AN OPERATING AGREEMENT? -- An Operating Agreement is an agreement for the member(s) of your LLC that sets forth how the LLC will be managed both financially and operationally. Your Operating Agreement also spells out how much of the LLC each member owns. You can have 1 member who owns 100%, you can have 2 members with a 50/50 split, 60/40, 70/30 (anything really!), or you can have 3 or more members and you can split the ownership any way you’d like. The LLC is a flexible business structure. There is no limit on the number of members you can have. And, there are no restrictions on how you split the ownership of the company. [=================================] -- PURPOSE OF THE OPERATING AGREEMENT -- The purpose of the Operating Agreement is to spell out who the member(s) are and what percentage of the LLC they own, also known as their “membership interest”. It also defines how the LLC is managed, how taxes are paid, and how profits and losses are distributed amongst the member(s). Remember, your LLC can be owned by one person (called a Single-Member LLC) or your LLC can be owned by 2 or more people (called a Multi-Member LLC). [=================================] -- WHO NEEDS YOUR OPERATING AGREEMENT -- You may need to provide a copy of your Operating Agreement to: • A lender if you are obtaining financing • A title company if you are purchasing real estate • Accounting and tax professionals for financial assistance • Lawyers for legal advice • Potential investors or partners who have an interest in your business [=================================] -- OPERATING AGREEMENT PROTECTS YOUR ASSETS -- If you’re involved in a legal battle, the Court will likely ask for your LLC’s Operating Agreement. Having one can help prove to the Court that you have a legitimate LLC and that you are running your business properly. If the Courts were to find you running an LLC without an Operating Agreement, they may go after your personal assets. [=================================] -- WHERE CAN I GET AN OPERATING AGREEMENT -- Unfortunately, none of the states provide an Operating Agreement. We can provide you a 6-page Operating Agreement. To learn more, visit: http://llcuniversity.com [=================================]
Views: 8110 LLC University
Best State to Form an LLC? - Form an LLC (4/11)
 
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▶▶ Learn more about LLCs: http://llcuniversity.com ◀◀ It's best to form your LLC in your home state. The disadvantages of forming an LLC outside of your home state far outweigh the perceived "advantages". [=================================] -- DOMESTIC LLC vs. FOREIGN LLC -- If you form an LLC in the state where you reside (aka your "home state"), this is known as a Domestic LLC. If you form an LLC outside of your home state, you'll be required to register that out-of-state LLC as a Foreign LLC in your home state. For example, if you form an LLC in Nevada (but you don't live there), then you'll be required to register that Nevada LLC in your home state (as a Foreign LLC) in order to do business in your home state. This means: - you now have 2 LLCs (one in Nevada and one in your home state) - you have to pay 2 State filing fees - you will be required to pay for a Registered Agent in order to use their address for your Nevada LLC - You have to pay 2 Annual Report fees (Note: we used Nevada above as an example, but the same applies to any out-of-state LLC.) In short, this can easily add up to DOUBLE the cost and DOUBLE the headaches since you have to maintain 2 LLCs. Now, we know the reason that most people become interested in Nevada LLCs is because they think they are going to save money on taxes. [=================================] -- TAXES ARE PAID WHERE MONEY IS MADE -- Many people are misled into forming LLCs in other States to take advantage of "tax savings". This is simply not true. In this example, if you formed a Nevada LLC and that LLC is doing business in your home state (not in Nevada), you'll still need to pay taxes in your home state because that is where you are making money. A helpful saying to remember is: "Taxes are paid where money is made." Again, your Foreign LLC will need to pay taxes in your home state since that is where you are operating and doing business. Even worse, you may owe additional taxes and fees in Nevada. So why do so many websites talk about Nevada? Great question. [=================================] -- NEVADA -- Again, most of the benefits of forming an LLC outside your "home state" are a far stretch from the truth. Both the states themselves and the companies promoting those states stand to gain financially by LLCs being created within THAT state's borders. For example, if 40,000 LLCs are formed each year in Nevada, that's approximately $3 million dollars in annual revenue for the state. And that is just for the state of Nevada alone. It doesn't include the tens of millions of dollars made by the companies promoting Nevada as "the" place to form your LLC. The funny thing is, compared to how much Nevada is "hyped up", there really aren't that many LLCs formed there each year. There are far more LLCs formed states that aren't "hyped-up". Furthermore, Nevada companies rank the highest in fraudulent activity. Look - don't get us wrong, if you live in Nevada and you're forming your LLC in Nevada, there is nothing wrong with that. But if you don't live in Nevada, again, it is much better to form your LLC in your home state. So what about Wyoming? [=================================] More videos at: http://llcuniversity.com [=================================]
Views: 33459 LLC University
Tennessee LLC - Formation Documents
 
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Step-by-step instructions: https://www.llcuniversity.com/tennessee-llc/forms/ To form an LLC in Tennessee, file your Articles of Organization with the Secretary of State. Articles of Organization: https://tnbear.tn.gov/NewBiz/ The name of the LLC Formation Document for the State of Tennessee is called the Articles of Organization. This document is not complicated and it contains basic information, including listing your LLC name, your office address, and your Registered Agent information. [=================================] -- FILING FEE -- If your LLC has 1-6 members, your filing fee is $300. If your LLC has more than 6 members, you will add an additional $50 per member for each member over 6. -- ACCEPTED FORMS OF PAYMENT -- Credit or Debit Card [=================================] -- HOW TO FILE -- You can file by mail or you can file online. If you file by mail, you will fill out your Articles of Organization on the State's website, then print them out and mail them to the State along with a check or money order to pay the filing fee. If you file online, you will fill out your Articles of Organization on the State's website, then submit them electronically, and pay the filing fee with a debit or credit card. [=================================] -- FILE BY MAIL -- If you file by mail, you will fill out your Articles of Organization on the State’s website, then print them out and mail them to the State along with a check or money order to pay the filing fee. Mail your Articles of Organization with your check or money order (for $300, made payable to the “Tennessee Secretary of State”) to: Secretary of State Attn: Corporate Filing 6th Floor – Snodgrass Tower 312 Rosa L. Parks Avenue Nashville, TN 37243 [=================================] -- FILE ONLINE -- If you file online, you will fill out your Articles of Organization on the State’s website, then submit them electronically, and pay the filing fee with a debit or credit card. There is also a small “convenience fee” for online filing. File online: https://tnbear.tn.gov/NewBiz/ [=================================] -- EXPECTED APPROVAL TIME BY MAIL -- When submitting documents through the mail, your LLC will be approved in 5-7 business days. Approval comes in the form a stamped and approved Articles of Organization along with your Acknowledgment Letter. [=================================] -- EXPECTED APPROVAL TIME ONLINE -- When submitting documents online, your LLC will be approved instantly. When you finish and pay online, you’ll be able to print your approved Articles of Organization and Acknowledgment Letter in PDF format. [=================================] -- WHAT YOU CAN EXPECT -- Once you submit your Articles of Organization along with the filing fee, the State will review and process your documents. If there are any issues with your filing, the State will notify you and then tell you what corrections need to be made. If you filed by mail and there are no issues, your LLC will be approved in 5-7 days. If you filed online and there are no issues, your LLC will be approved instantly. Either way, you will receive back a stamped and approved copy of your Articles of Organization along with an Acknowledgment Letter from the State. This confirms your LLC is now a legally formed business in the State of Tennessee. [=================================] -- ACKNOWLEDGMENT LETTER -- Your Acknowledgement Letter will contain your LLC's name, the date filed, and your Secretary of State Control Number. Your Secretary of State Control Number is unique to your LLC and you will use it when dealing with the State. [=================================] -- TENNESSEE SECRETARY OF STATE -- Phone: 615-741-2286 (hours: M-F, 8:00am – 4:30pm Central Time) Email: [email protected] Website: http://www.tn.gov/sos/contact.htm [=================================] -- NEXT STEP -- Once your LLC is approved, you can proceed to the next Lesson: https://www.youtube.com/watch?v=XtmC8IlHAC0 [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 3457 LLC University
Can I use an LLC for My Personal Residence? (pros and cons)
 
04:23
We teach people how to form LLCs in all 50 states: https://www.llcuniversity.com Using an LLC for your personal residence has some pros and cons. In this video we'll discuss what you need to do in order to purchase the real estate in the name of the LLC. The related video I mentioned about "when to form an LLC for real estate" can be found here: https://www.youtube.com/watch?v=03IK5wtv_5g If you already own your home in your personal name, you'll need to transfer title to the LLC. This means you'll need to contact a local title company and calculate all the closing costs. You'll also need to talk to the bank to see if it's even possible (it's not likely in most cases)... so it's best to transfer title when you own the house free and clear. On the other side, if you haven't purchased your home yet, you'll want to weigh the pros and cons (and speak with an attorney and an accountant) to see if this is a good strategy. Your insurance policies will need to change, as well as your utilities (you'll need to transfer them into the name of the LLC). There are a lot more details involved, so treat this information as an overview, not a comprehensive plan. Continue reading article: https://www.llcuniversity.com/llc-for-a-personal-residence-i-already-own/ /---------------------------------------/ -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com
Views: 6593 LLC University
Florida LLC - Filing Forms & Documents
 
14:10
Step-by-step instructions: https://www.llcuniversity.com/florida-llc/forms/ To form an LLC in Florida, file your Articles of Organization with the Division of Corporations. Articles of Organization (you as Registered Agent): http://form.sunbiz.org/pdf/cr2e047.pdf Articles of Organization (Northwest Registered Agent): https://www.llcuniversity.com/wp-content/uploads/FL-LLC-Articles-of-Organization-NWRA.pdf If you are hiring a different Commercial Registered Agent (other than Northwest Registered Agent), you need to obtain their signature on your Articles of Organization before filing with Florida. [=================================] -- COMMERCIAL REGISTERED AGENT -- We recommend Northwest Registered Agent: https://www.llcuniversity.com/go/florida-registered-agent/ (using a Registered Agent offers a degree of privacy when forming your Florida LLC) [=================================] -- FILING FEE -- $125 (unless additional documentation is ordered) -- ACCEPTED FORMS OF PAYMENT -- Check or Money Order [=================================] -- FILING INSTRUCTIONS -- Mail Articles of Organization with your check or money order made payable to the “Florida Department of State” to: Registration Section Division of Corporations P.O. Box 6327 Tallahassee, FL 32314 [=================================] -- FLORIDA SECRETARY OF STATE -- 850-245-6051 http://sunbiz.org/ [=================================] -- NEXT STEP -- Once your LLC is approved you can proceed to the next Lesson: https://www.youtube.com/watch?v=XtmC8IlHAC0 [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 18271 LLC University
California LLC - Annual LLC Franchise Tax
 
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Step-by-step instructions: https://www.llcuniversity.com/california-llc/annual-llc-tax/ California charges an $800 Annual LLC Franchise Tax on LLCs. This tax is due by ALL LLCs regardless of income or business activity. This is a "prepay" tax, meaning it pays for the current year. Failure to file before the deadline will result in the State charging late fees and penalties, and they will eventually dissolve your LLC if you do not pay the $800 Annual LLC Franchise Tax. This is not a popular requirement for California, but it is mandatory, and it is the cost of doing business in the State. There is no way to get around this tax. If you want to form an LLC in California, you have to pay this $800 tax within 4 months after you file your LLC and then again by April 15th of each year. [=================================] -- FORM 3522: 2016 CA LLC $800 TAX VOUCHER -- • https://www.ftb.ca.gov/forms/2016/16_3522.pdf • All LLCs must file. • Due by the 15th day of the 4th month after your LLC is filed. • Then by April 15th every year going forward. [=================================] -- FORM 3536: 2016 ESTIMATED FEE FOR CA LLCs -- • https://www.ftb.ca.gov/forms/2016/16_3536.pdf • Only needed if your LLC makes greater than $250,000. • Due by the 15th day of the 6th month after your LLC is filed. • Then by June 15th every year going forward. [=================================] -- FORM 568 – 2015 CA LLC RETURN OF INCOME -- • https://www.ftb.ca.gov/forms/2015/15_568.pdf • All LLCs must file. • Due by the 15th day of the 4th month after the end of your taxable year. • This will most likely be April 15th if you run your tax year January to December (which 99% of our members do). [=================================] -- CA FRANCHISE TAX BOARD CONTACT INFO -- HOURS: Monday – Friday, 7am – 5pm PT PHONE: 888-635-0494 (Collections, option 3, option 3, option 0) 800-852-5711 (Main = Taxpayer service center, general questions) WAIT TIMES: Wait times can be quite long if you call during the middle of the day. Get up early and call them at 7:00am to save yourself time. LIVE CHAT: https://www.ftb.ca.gov/aboutFTB/Live_Chat.shtml MAIN WEBSITE: http://www.ftb.ca.gov/ [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 12108 LLC University
New York LLC - Certificate of Publication
 
06:52
Step-by-step instructions: https://www.llcuniversity.com/new-york-llc/certificate-of-publication/ All LLCs formed in New York must publish notice of their formation in 2 newspapers. If you have not seen those lessons yet, please watch them. NY LLC Publication Requirements Part 1: https://www.youtube.com/watch?v=4IPCmxi5NAQ NY LLC Publication Requirements Part 2: https://www.youtube.com/watch?v=hTb-A1C1oR8 Once your ads have run for 6 consecutive weeks, you will then need to provide proof to the State that you've met the Newspaper Publication Requirement. You do this by filing what's called a Certificate of Publication. We know this might sound confusing since you recently received Affidavits of Publication, but this is a separate document required by New York. You will need to mail this document along with the required filing fee of $50. We'll show you how to complete this form in this video lesson. Download the NY Certificate of Publication: http://www.dos.ny.gov/forms/corporations/1708-f-l.pdf [=================================] -- AFFIDAVITS OF PUBLICATION -- Along with your Certificate of Publication, you must send New York a copy of both Affidavits of Publication that you received from the newspapers. Most newspapers will automatically mail you an Affidavit of Publication shortly after the ads have run. However, if they did not, you will need to call or email the newspapers to obtain your Affidavits before proceeding. [=================================] -- FILING FEE -- $50 -- ACCEPTED FORMS OF PAYMENT -- Check or Money Order -- MADE PAYABLE TO -- “Department of State” [=================================] -- FILING INSTRUCTIONS -- In one envelope, mail your Certificate of Publication, both Affidavits of Publication, and the $50 filing fee (made payable to the “Department of State”) to: Department of State Division of Corporations One Commerce Plaza 99 Washington Avenue, Suite 600 Albany, NY 12231 [=================================] -- CONTACT INFO FOR NEW YORK DEPARTMENT OF STATE -- 518-473-2492 (M-F: 9:00am – 4:30pm) [email protected] http://www.dos.ny.gov/corps/contact.html [=================================] -- NEXT STEP -- Once you have mailed the State your Certificate of Publication, both Affidavits of Publication, and the $50 filing fee (together in one envelope), you can then proceed to the next Lesson for filing Biennial Statements: https://www.youtube.com/watch?v=ZxvoJGjAZm8 [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 3737 LLC University
LLC name with or without a comma?
 
02:01
Site: https://www.llcuniversity.com Does your LLC name have to have a comma in it? The short answer is no, it does not. None of the 50 states have any rules or requirements regarding the comma in your LLC name. It completely a personal preference. Ex: "ABC Widgets, LLC" versus "LLC Widgets LLC" Some people think the comma is more professional. Some people think no comma is more modern and contemporary. It's completely up to you. Which one do you like better? Ask any LLC question here and get a reply in a few hours: https://www.llcuniversity.com/main/ask-llcu/
Views: 2967 LLC University
Georgia LLC - Filing Forms & Documents
 
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Step-by-step instructions: https://www.llcuniversity.com/georgia-llc/forms/ To form an LLC in Georgia, file your Articles of Organization and Transmittal Form with the Secretary of State. Articles of Organization: http://sos.ga.gov/corporations/acrobat/applications/Filing%20Template%20-%20Articles%20of%20Organization%20for%20LLC%20(CD%20030).pdf Transmittal Form: http://sos.ga.gov/corporations/acrobat/applications/Transmittal%20Form%20-%20Limited%20Liability%20Companies%20(231).pdf The name of the LLC Formation Documents for the State of Georgia are called the Articles of Organization and the Transmittal Form. These documents are not complicated and they contain basic information, including listing your Registered Office and Registered Agent. They will also require you to list your LLC's name and the name and address of the LLC member(s). [=================================] -- FILING FEE -- $100 -- ACCEPTED FORMS OF PAYMENT -- Check or Money Order If paying by check, your check must have a pre-printed address on it. If you don’t have checks with a pre-printed address, please pay with a money order. [=================================] -- FILING INSTRUCTIONS -- Mail one (1) Original Articles of Organization, one (1) Copy of your Articles of Organization, and one (1) Original Transmittal Form, with your check or money order for $100 made payable to the “Secretary of State” to: Corporations Division 2 Martin Luther King Jr. Dr. SE Suite 313, West Tower Atlanta, GA 30334 [=================================] -- EXPECTED APPROVAL TIME -- You will receive your approval in approximately 15-20 business days. [=================================] -- WHAT DOES APPROVAL LOOK LIKE -- Your official approval is called the Certificate of Organization. If you provided an email address in your Transmittal Form, the State will email you instructions on how you can download your Certificate of Organization online. If you did not provide an email address in your Transmittal Form, the State will mail the Certificate of Organization to you. [=================================] -- GEORGIA SECRETARY OF STATE -- 404-656-2817 (Monday-Friday, 8:00am – 5:30pm) http://sos.ga.gov/ [=================================] -- NEXT STEP -- Once your LLC is approved, you can proceed to the next Lesson: https://www.youtube.com/watch?v=XtmC8IlHAC0 [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 9987 LLC University
North Carolina LLC - Formation Documents
 
20:04
More detailed instructions: https://www.llcuniversity.com/north-carolina-llc/forms/ To form an LLC in North Carolina, file your Articles of Organization and Cover Sheet with the Secretary of State. DOWNLOAD THE COVER SHEET FOR CORPORATE FILINGS: 1. Go to: https://www.sosnc.gov/forms 2. Choose "Business Registration" from the "Within the Department" drop down menu. 3. Make sure "Business Entities Common" appears in the the second drop down menu (it will appear by default). 4. The "Cover Sheet for Corporate Filings" will appear at the very top of the selection. Click on the link to download a PDF copy. DOWNLOAD THE ARTICLES OF ORGANIZATION (L-01): 1. Go to: https://www.sosnc.gov/forms 2. Choose "Business Registration" from the "Within the Department" drop down menu. 3. Choose "Limited Liability Company" in the second drop down menu. 4. The Articles of Organization (L-01) will appear at the top of the list. Click on the link to download a PDF copy. [=================================] -- FILING FEE -- $125 -- ACCEPTED FORMS OF PAYMENT -- Check or Money Order [=================================] -- FILING INSTRUCTIONS -- Mail your Articles of Organization & Cover Sheet with your check or money order (for $125, made payable to the “North Carolina Secretary of State”) to: North Carolina Secretary of State PO Box 29622 Raleigh, NC 27626-0622 [=================================] -- EXPECTED APPROVAL TIME -- Once your documents are received by the State, they will approve your LLC within 7-10 business days. [=================================] -- WHAT DOES APPROVAL LOOK LIKE -- Once your LLC is approved, you will receive back a Certified Copy of your Articles of Organization by mail or by email. This confirms your LLC is now a legally formed business in the State of North Carolina. Please keep the Certified Copy of your Articles of Organization with your business records. Do not order your EIN (Federal Tax ID Number) or start to use your LLC for any business purposes until you've received this approval. [=================================] -- NORTH CAROLINA SECRETARY OF STATE -- Department of the Secretary of State Corporations Division Phone: 919-814-5400 (hours: 8am – 5pm Eastern) Email: [email protected] [=================================] -- NEXT STEP -- Once your LLC is approved, you can proceed to the next Lesson: https://www.youtube.com/watch?v=XtmC8IlHAC0 [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 17738 LLC University
Michigan LLC - Formation Documents
 
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Step-by-step instructions: https://www.llcuniversity.com/michigan-llc/forms/ To form an LLC in Michigan, file your Articles of Organization with the Secretary of State. Articles of Organization: http://www.michigan.gov/documents/lara/700_08-15_528193_7.pdf Expedited Service Request: http://www.michigan.gov/documents/lara/272_08-15_527662_7.pdf The name of the LLC Formation Documents for the State of Michigan are called the Articles of Organization. Your LLC is required to list a Registered Office and a Registered Agent within your LLC Formation Documents. The Registered Office is a physical address (cannot be a PO Box) located in Michigan. A Registered Agent is a person or a company who agrees to accept legal mail and important documents on behalf of your LLC. The state will also require you to list your LLC's name and the name and address of the LLC member(s). Some states require that your Registered Agent sign your LLC Formation Documents, but Michigan does not require this. You will just need to list their name and address within your LLC Formation Documents. Your LLC cannot serve as its own Registered Agent. [=================================] -- FILING FEE -- $50 -- ACCEPTED FORMS OF PAYMENT -- Check or Money Order [=================================] -- SERVICE OF PROCESS -- Delivery of legal documents related to a lawsuit is known as Service of Process. Service of Process includes items such as complaints, summons, and/or subpoenas. [=================================] -- OPTIONS IN MICHIGAN-- In Michigan, you have 3 options for designating your LLC's Registered Agent. 1. You, as an individual, can be your LLC's Registered Agent. 2. A friend or family member can be your LLC's Registered Agent. 3. Or you can hire a Commercial Registered Agent. [=================================] -- IF YOU HAVE A STREET ADDRESS IN MICHIGAN -- 1. You, as an individual, can be your LLC's Registered Agent. -- IF YOU DON’T HAVE A STREET ADDRESS -- 2. A friend or family member can be your LLC's Registered Agent. (Remember, they must have a street address located in Michigan.) 3. Or you can hire a Commercial Registered Agent. (A Commercial Registered Agent also offers a degree of privacy) [=================================] -- COMMERCIAL REGISTERED AGENT -- A Commercial Registered Agent is a company that specializes in receiving Service of Process on behalf of businesses nationwide. They typically charge between $100-300 per year. They will receive Service of Process on behalf of your LLC and then forward it to you by mail at any address you'd like. Most will also fax or email your documents if preferred. We recommend a company called Northwest Registered Agent; they have been in business for more than two decades and they have a solid reputation. Their fees are among the most affordable, and their support is top notch. Use the following link to sign up with Northwest Registered Agent: https://www.llcuniversity.com/go/michigan-registered-agent/ [=================================] -- FILING INSTRUCTIONS -- Mail a copy of your Articles of Organization and your check or money order for $50 made payable to the “State of Michigan” to: Michigan Department of Licensing and Regulatory Affairs Corporations, Securities & Commercial Licensing Bureau Corporations Division P.O. Box 30054 Lansing, MI 48909 [=================================] -- EXPECTED APPROVAL TIME -- You will receive your approval in approximately 10-15 business days. [=================================] -- MICHIGAN SECRETARY OF STATE -- 517-241-6470 (phone, 8am – 5pm ET) 517-241-0538 (fax) [email protected] (email) [=================================] -- NEXT STEP -- Once your LLC is approved you can proceed to the next Lesson: https://www.youtube.com/watch?v=XtmC8IlHAC0 [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 11353 LLC University
Maryland LLC - Formation Documents
 
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Step-by-step instructions: https://www.llcuniversity.com/maryland-llc/forms/ To form an LLC in Maryland, file your Articles of Organization with the Secretary of State. Articles of Organization (you as Registered Agent): http://www.dat.state.md.us/SDAT%20Forms/artorgan.pdf Articles of Organization (Northwest Registered Agent): https://www.llcuniversity.com/wp-content/uploads/MD-LLC-Articles-of-Organization-NWRA-2015.02.08.pdf The Articles of Organization is not complicated and contains basic information, including listing your Registered Office and Registered Agent. Note: having a copy of your approved Articles of Organization (and your EIN) is a requirement when opening a business bank account. [=================================] -- FILING FEE -- $105 -- ACCEPTED FORMS OF PAYMENT -- Check or Money Order [=================================] -- FILING INSTRUCTIONS -- Mail your Articles of Organization with your check or money order (made payable to the “State Department of Assessments and Taxation”) to: State Department of Assessments and Taxation Charter Division 301 W. Preston Street, 8th Floor Baltimore, MD 21201-2395 [=================================] -- EXPECTED APPROVAL TIME -- Regular Filing: 6-8 weeks approval time Expedited Filing: 7-10 days approval time [=================================] -- WHAT DOES APPROVAL LOOK LIKE -- Once you mail your Articles of Organization along with the filing fee, the State will review and process your documents. If there are any issues with your filing, the State will notify you of those issues and then tell you what corrections need to be made. You will have sixty (60) days to make these corrections and return your Articles of Organization to the State for further processing. If you do not return your documents within sixty (60) days, the State will abandon your filing and keep your filing fee. The State will mail you a Confirmation Letter and a copy of your Articles of Organization. Please keep a copy of these documents with your business records as you'll need them to open your LLC's bank account. Do not order your EIN (Federal Tax ID Number) or start to use your LLC for any business purposes until you've received your approved Articles of Organization. [=================================] -- MARYLAND SECRETARY OF STATE -- State Department of Assessments and Taxation Corporate Charter Division Phone: 410-767-1340 (rapidly press 1, 1, 1 to speak with a representative) Email: [email protected] [=================================] -- NEXT STEP -- Once your LLC is approved you can proceed to the next Lesson: https://www.youtube.com/watch?v=XtmC8IlHAC0 [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 3688 LLC University
Texas LLC - Name Search
 
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Step-by-step instructions: https://www.llcuniversity.com/texas-llc/search/ Texas LLC search: https://mycpa.cpa.state.tx.us/coa/Index.html The first step to forming an LLC in Texas is to search your desired LLC name. When choosing your Texas LLC name, you have a couple options we recommend. 1. Call the State 2. Send an Email (here’s an automatically generated email, or you can manually fill it out, here: https://www.llcuniversity.com/texas-llc/search/email-template/) 3. Search the Online Database Search your business every which way you can think of; unfortunately, unlike other states, the online database is not the most “intelligent” and “intuitive”. When is doubt, call the state at the number provided in this lesson. We recommend having 1-2 alternative names ready in case your desired LLC name is not available for use (this will save you from making multiple phone calls). 1. The abbreviations “LLC” or “L.L.C.” must be used at the end of your name. The abbreviation “LLC” is the most common. 2. Because an LLC is not a Corporation, your desired name can’t use the word “Corporation”, “Incorporated,” or their abbreviations (“Corp.”, “Inc.”) 3. The name of your LLC must also be distinguishable. It needs to be unique when compared to the existing businesses found in the Texas database. Make note of: • Designators (Inc./Corp./LLC/L.L.C.) • Grammatical differences (singular/plural, a/an/the, and/&/or, hyphens/slashes/periods/commas) • Alphanumeric • Deceptively similar names [=================================] -- TIPS TO PICKING A GREAT LLC NAME -- • Be creative • Pick a name which is short and easy to spell • The name should have a positive connotation so people can easily remember it [=================================] -- Texas SECRETARY OF STATE -- 614-466-2655 877-767-6446 [email protected] [=================================] -- NEXT STEP -- Once you have chosen your LLC name, you can proceed to the next Lesson: https://www.youtube.com/watch?v=Opsv6igvyZU [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 9401 LLC University
California LLC - Annual Report (Statement of Information)
 
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Step-by-step instructions: https://www.llcuniversity.com/california-llc/statement-of-information/ California LLC Statement of Information: http://bpd.cdn.sos.ca.gov/llc/forms/llc-12.pdf The purpose of the Statement of Information is to keep the State updated with your LLC's contact information. This is also a legal requirement to keep your LLC in good standing with the state. The Statement of Information includes your LLC Name, your Secretary of State File Number, the LLC address, the names and addresses of the member(s), your Registered Agent information and a brief description of your business. Before beginning this Lesson, please make sure that you have received your stamped and approved Articles of Organization back from the State. Otherwise, you will not have the information you need to prepare this document. [=================================] -- FILING FEE -- $20 -- ACCEPTED FORMS OF PAYMENT -- Check or Money Order -- MAKE PAYABLE TO -- “Secretary of State” [=================================] -- FILING INSTRUCTIONS -- Mail your Statement of Information and your check or money order for $20 made payable to the “Secretary of State” to: Secretary of State Statement of Information Unit PO Box 944230 Sacramento, CA 94244-2300 [=================================] -- DUE DATES -- Initial Statement of Information: due within 90 days of the approval of your LLC. Ongoing Statements of Information: due every two years, by the anniversary date of the approval of your LLC. The anniversary date is the date the Articles of Organization was stamped and approved by the State. [=================================] -- PENALTY -- Failure to file on time will result in California charging a late fee of $250 and they will eventually dissolve (shut down) your LLC if you ignore this requirement. [=================================] -- CALIFORNIA SECRETARY OF STATE -- 916-653-3794 (LLC Unit; Press 0+0, disregard prompt, press 0+0 again) 213-897-3062 (LA Regional Office) 916-657-5448 (Main line; support is non-existent) http://www.sos.ca.gov/contacts.htm [=================================] -- NEXT STEP -- Once you determine when your initial and ongoing Statements of Information are due, you can then proceed to the next Lesson: https://www.youtube.com/watch?v=z3L9NxNiM3s [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 5422 LLC University
Colorado LLC FAQs - Starting an LLC in Colorado
 
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➡ Full article: https://www.llcuniversity.com/colorado-llc-faq/ Colorado LLC Questions Answered: • What is a Colorado LLC? • What are the advantages of forming an LLC in Colorado? • How to start an LLC in Colorado? • Do I need a lawyer to form an LLC in Colorado? • How do I maintain an LLC in Colorado? • How long does it take to form an LLC in Colorado? • How many people do I need to form an LLC in Colorado? • How much does it cost to start an LLC in Colorado? • How do I file a Periodic Report for my Colorado LLC? • Is Colorado the best state to form my LLC? • Should I form a Colorado LLC for real estate investing? • What are the annual fees for a Colorado LLC? • What other fees do I need to pay to form an LLC in CO? • What taxes do I need to pay as an LLC in Colorado? • What’s better: a Colorado LLC or a Corporation? • What’s better: a Colorado LLC or a Partnership? • What’s better: a Colorado LLC or a Sole Proprietorship? • When is the best time of year to form an LLC in CO? • Where can I get an Operating Agreement for my CO LLC? • Who can be my Registered Agent in Colorado? • Why form an LLC in Colorado? • Where can I learn more about LLCs? A Colorado LLC is a type of business structure formed by state law. It can be used to run a business, or it can be used to hold assets like real estate, boats, and planes. A Colorado LLC can: make money, own/lease property, enter into contracts, open a bank account, and sue and be sued. It can be formed by one person or by several people. There are 2 main advantages to forming a Colorado LLC: personal liability protection and pass-through taxation. With an LLC, your personal assets are protected from the assets held by your business. This means your personal assets cannot be used to pay off your business’s debts or liabilities in case your LLC gets sued. An LLC also avoids double taxation. Unlike a Corporation, an LLC does not have to file a separate federal tax return with the IRS. Instead your Colorado LLC profits/losses pass through directly to your personal income tax return. How to start an LLC in Colorado? There are 5 steps to forming an LLC in Colorado. They are: 1. Choose a Name for your LLC 2. Select your LLC’s Registered Agent 3. File your LLC’s Articles of Organization 4. Complete and sign your LLC’s Operating Agreement 5. Get your LLC’s EIN (Employer Identification Number) You’ll also need to do the following every year to keep your LLC in good standing with Colorado: • File your LLC’s Periodic Report • File and pay your Colorado Taxes Continue reading: https://www.llcuniversity.com/colorado-llc-faq/ /---------------------------------------/ Ask any LLC question here and get a reply in a few hours: https://www.llcuniversity.com/ask-llcu/ -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 2170 LLC University
Pennsylvania LLC - Fictitious Name/DBA
 
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Step-by-step instructions: https://www.llcuniversity.com/pennsylvania-llc/fictitious-name/ In order to register a Fictitious Name (DBA) for your Pennsylvania you must file a Registration of Fictitious Name Form and pay $70. Download Registration of Fictitious Name: http://www.dos.pa.gov/BusinessCharities/Business/RegistrationForms/Documents/RegForms/54-311%20App%20for%20Reg%20of%20Fict%20Name.pdf *IMPORTANT: You are not required to file a DBA for your LLC. You can just use your LLC name to do business. Filing a DBA allows an LLC to conduct business using a name other than the officially registered LLC name listed in your Certificate of Organization. This step usually applies to those who’ve bought into a franchise or operate multiple retail stores under different names (but owned by 1 LLC). [=================================] -- FILING FEE -- $70 -- ACCEPTED FORMS OF PAYMENT -- Check or Money Order -- MAKE PAYABLE TO -- “Department of State” [=================================] -- FILING INSTRUCTIONS -- Mail Registration of Fictitious Name along with $70 filing fee to: Bureau of Corporations P.O. Box 8722 Harrisburg, PA 17105-8722 [=================================] -- APPROVAL TIME -- You will receive back a stamped and approved copy of your Registration of Fictitious Name in 1-2 weeks. [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 3502 LLC University
New York LLC - Certificate of Change
 
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Step-by-step instructions: https://www.llcuniversity.com/new-york-llc/certificate-of-change/ NY LLC Certificate of Change: http://www.dos.ny.gov/forms/corporations/1359-f.pdf In order to change your New York LLC's office address with the State, you need to file what's called a Certificate of Change. Your Certificate of Change will contain basic information such as the name of your LLC, the formation date of your LLC, and your new LLC office address. You can find your LLC's formation date in the Filing Receipt you received back from New York when your LLC formation was approved. [=================================] -- FILING FEE -- $30 -- ACCEPTED FORMS OF PAYMENT -- Check or Money Order -- MAKE PAYABLE TO -- “Department of State” [=================================] -- FILING INSTRUCTIONS -- Mail your Certificate of Change with your check or money order (for $30, made payable to the “Department of State”) to: Department of State Division of Corporations One Commerce Plaza 99 Washington Avenue Albany, NY 12231 [=================================] -- WHAT TO EXPECT -- There is no receipt sent back once the Certificate of Change has been filed. [=================================] -- CONTACT INFO for NY DEPARTMENT OF STATE -- 518-473-2492 (M-F: 9:00am – 4:30pm) [email protected] (email) http://www.dos.ny.gov/corps/contact.html [=================================] -- NEXT STEP -- There are no additional steps. [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 3111 LLC University
Virginia LLC - Formation Documents
 
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Step-by-step instructions: https://www.llcuniversity.com/virginia-llc/forms/ To form an LLC in Virginia, file your Articles of Organization with the Secretary of State. Virginia Articles of Organization: https://www.scc.virginia.gov/publicforms/322/llc1011.pdf Request for Certified Copy: https://www.llcuniversity.com/wp-content/uploads/VA-LLC-Request-for-Certified-Copy.pdf The name of the LLC Formation Document for the state of Virginia is called the Articles of Organization. This document is not complicated and contains basic information, including listing your Registered Office and Registered Agent. [=================================] -- COMMERCIAL REGISTERED AGENT -- We recommend Northwest Registered Agent: https://www.llcuniversity.com/go/virginia-registered-agent/ (using a Registered Agent offers a degree of privacy when forming your Virginia LLC) [=================================] -- FILING FEE -- $100 -- CERTIFIED COPY -- $3.50 -- ACCEPTED FORMS OF PAYMENT -- Check or Money Order [=================================] -- ORIGINAL SIGNATURES REQUIRED -- When submitting your Articles of Organization to Virginia, it must contain original signatures. The State will not accept a photocopy of your Articles of Organization. It is a good idea, however, to make a copy of your Articles of Organization. Keep that copy with your business records and then mail the original to the State. [=================================] -- FILING INSTRUCTIONS -- Mail your Virginia Articles of Organization, your Request for Certified Copy and your check or money order for $103.50 made payable to the “State Corporation Commission” to: Clerk of the State Corporation Commission PO Box 1197 Richmond, Virginia 23218-1197 [=================================] -- APPROVAL TIME -- Once you mail the filing fee of $100, along with your Articles of Organization, the State will review & process your paperwork. If there are any issues, the State will mail back a letter with instructions on what needs to be corrected. If there are no issues with your filing, the State will mail back a Certificate and a Receipt in approximately 10-15 business days. The Certificate and the Receipt will be mailed to your Registered Agent. [=================================] -- WHAT DOES APPROVAL LOOK LIKE -- The Certificate is a document stating that your LLC is now authorized to do business in the State. The Receipt shows proof of payment and also contains your State Corporation Commission ID Number (SCC ID Number). This is a number that is unique to your LLC that you will need when filing taxes and paying your Annual Registration Fee. Do not order your EIN (Federal Tax ID Number) or start to use your LLC for any business purposes until your LLC has been approved. [=================================] -- ANNUAL REGISTRATION FEE -- As part of the ongoing requirements for your LLC, Virginia requires that you pay an Annual Registration Fee. Every year, the State will send you a Payment Voucher approximately 2 months before your payment is due. The Payment Voucher will be sent to your Registered Agent, and it will include instructions for mailing your Annual Registration Fee. Even if the State does not send the Payment Voucher, you are still responsible for paying the Annual Registration Fee. If you do not receive the Payment Voucher from the State, you should contact them at the number below this video. The Annual Registration Fee is $50 and it will first be due one (1) year after your LLC's approval. It will be due before the last day of your anniversary month. Your anniversary month is the month shown on your Certificate. [=================================] -- PENALTIES -- Failure to pay your Virginia LLC's Annual Registration Fee on time will result in late fees. Even worse, the State will dissolve (shut down) your LLC if you are more than 3 months late. We don't mean to scare you, but this is a State requirement and Virginia does take it seriously. [=================================] -- VIRGINIA SECRETARY OF STATE -- Phone: 804-371-9733 (option 2, then option 3 = name assistance) Hours: M-F, 8:15am – 5:00pm ET Email: [email protected] Website: http://www.scc.virginia.gov/contact.aspx [=================================] -- NEXT STEP -- Once your LLC is approved you can proceed to the next Lesson: https://www.youtube.com/watch?v=XtmC8IlHAC0 [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 6737 LLC University
North Carolina LLC - Annual Report
 
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Step-by-step instructions: https://www.llcuniversity.com/north-carolina-llc/annual-report/ Annual Report Filing: https://www.sosnc.gov/corporations/arentry.aspx Each year, you are required by law to keep the State updated with your LLC's contact information. You do this by filing what's called an Annual Report for your North Carolina LLC. Along with filing your Annual Report, you must also pay the annual filing fee. ** IMPORTANT ** If you are changing the name of your Registered Agent, you will need to print out your pre-populated Annual Report on the State’s website, have your new Registered Agent sign, and then mail it in along with your check or money order. If you are not changing the name of your Registered Agent, you will fill out your Annual Report on the State’s website, then submit it electronically, and pay the filing fee with a debit or credit card. [=================================] -- ANNUAL FILING FEE -- $200 -- MAKE PAYABLE TO -- North Carolina Secretary of State -- ACCEPTED FORMS OF PAYMENT -- Check or Money Order [=================================] -- DUE DATE -- The North Carolina LLC Annual Report is due on April 15th every year. [=================================] -- PENALTY FOR LATE PAYMENT -- If you do not submit your Annual Report within 60 days of the due date, then your LLC may be administratively dissolved and shut down. [=================================] -- FILING BY MAIL -- If you file by mail you will print out your pre-populated Annual Report on the State’s website, and then mail it in with your check or money order. Mail your Annual Report with your check or money order (for $200, made payable to the “North Carolina Secretary of State”) to: Secretary of State Corporations Division Post Office Box 29525 Raleigh, NC 27626-0525 [=================================] -- FILING ONLINE -- If you file online, you will fill out your Annual Report on the State’s website, then submit it electronically, and pay the filing fee with a debit or credit card. [=================================] -- WHAT TO EXPECT -- If you file by mail, the State does not send you a receipt or any documents. However, you can download a copy of your Annual Report from the State’s website a few days after you submit it. If you file online, you’ll receive a success message on the State’s website and then be able to print out a copy of your Annual Report and save it for your business records. [=================================] -- NORTH CAROLINA SECRETARY OF STATE -- Department of the Secretary of State Corporations Division Phone: 919-807-2225 (hours: 8am – 5pm Eastern) Email: [email protected] [=================================] -- NEXT STEP -- Once you have filed your Annual Report, you can proceed to the next Lesson: https://www.llcuniversity.com/north-carolina-llc/taxes/ [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 6777 LLC University
North Carolina LLC - Registered Agent
 
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Step-by-step instructions: https://www.llcuniversity.com/go/north-carolina-registered-agent/ Northwest Registered Agent: https://www.llcuniversity.com/go/north-carolina-registered-agent/ When forming an LLC in North Carolina you need to elect a Registered Agent. A Registered Agent is a person or a company who agrees to accept legal mail and important documents on behalf of your LLC in case your LLC is sued. This address and point of contact are known as your Registered Office and your Registered Agent. The Registered Agent is located at the Registered Office and is generally available during normal business hours. The Registered Office must be a street address (cannot be a PO Box) located in the state where your LLC is formed. Your LLC cannot serve as its own Registered Agent. [=================================] -- SERVICE OF PROCESS -- Delivery of legal documents related to a lawsuit is known as Service of Process. Service of Process includes items such as complaints, summons, and/or subpoenas. [=================================] -- OPTIONS IN NORTH CAROLINA -- In North Carolina, you have 3 options for designating your LLC's Registered Agent. 1. You, as an individual, can be your LLC's Registered Agent. 2. A friend or family member can be your LLC's Registered Agent. 3. Or you can hire a Commercial Registered Agent. [=================================] -- IF YOU HAVE A STREET ADDRESS IN North Carolina -- 1. You, as an individual, can be your LLC's Registered Agent. -- IF YOU DON’T HAVE A STREET ADDRESS -- 2. A friend or family member can be your LLC's Registered Agent. (Remember, they must have a street address located in North Carolina.) 3. Or you can hire a Commercial Registered Agent. If you are comfortable using the address of a friend or family member (aka, you trust them), then we recommend choosing option 3 if you don’t have a street address located in North Carolina. However, if you don't know anyone located in North Carolina, then we recommend you hire a Commercial Registered Agent. (A Commercial Registered Agent provides a degree of privacy.) [=================================] -- COMMERCIAL REGISTERED AGENT -- A Commercial Registered Agent is a company that specializes in receiving Service of Process on behalf of businesses nationwide. They typically charge between $100-300 per year. They will receive Service of Process on behalf of your LLC and then forward it to you by mail at any address you'd like. Most will also fax or email your documents if preferred. We recommend a company called Northwest Registered Agent; they have been in business for more than two decades and they have a solid reputation. Their fees are among the most affordable, and their support is top notch. Use the following link to sign up with Northwest Registered Agent: https://www.llcuniversity.com/go/north-carolina-registered-agent/ [=================================] -- NEXT STEP -- Once you have chosen a Registered Agent, you can proceed to the next Lesson: https://www.youtube.com/watch?v=84zAQV6NB8Y [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 2060 LLC University
New York LLC - Name Search
 
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Step-by-step instructions:https://www.llcuniversity.com/new-york-llc/search/ New York LLC search: http://www.dos.ny.gov/corps/index.html The first step to forming an LLC in New York is to search your desired LLC name. When choosing your New York LLC name, you have to follow certain requirements: 1. The abbreviations “LLC” or “L.L.C.” must be used at the end of your name. The abbreviation “LLC” is the most common. 2. Because an LLC is not a Corporation, your desired name can’t use the word “Corporation”, “Incorporated,” or their abbreviations (“Corp.”, “Inc.”) 3. The name of your LLC must also be distinguishable. It needs to be unique when compared to the existing businesses found in the New York database. Make note of: • Designators (Inc./Corp./LLC/L.L.C.) • Grammatical differences (singular/plural, a/an/the, and/&/or, hyphens/slashes/periods/commas) • Alphanumeric • Deceptively similar names [=================================] -- TIPS TO PICKING A GREAT LLC NAME -- • Be creative • Pick a name which is short and easy to spell • The name should have a positive connotation so people can easily remember it [=================================] -- NEW YORK SECRETARY OF STATE -- 518-473-2492 (M-F: 9:00am – 4:30pm) [email protected] http://www.dos.ny.gov/corps/contact.html [=================================] -- NEXT STEP -- Once you have chosen your LLC name, you can proceed to the next Lesson: https://www.youtube.com/watch?v=4IPCmxi5NAQ [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 5217 LLC University
New York LLC - Formation Documents (overview)
 
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Step-by-step instructions: https://www.llcuniversity.com/new-york-llc/forms/ To form an LLC in New York, file your Articles of Organization with the Department of State. You can file your New York LLC Articles of Organization one of two ways; online or by mail. ONLINE - file Articles of Organization: http://www.dos.ny.gov/corps/index.html BY MAIL: file Articles of Organization: http://www.dos.ny.gov/forms/corporations/1336-f.pdf The name of the LLC Formation Document for the State of New York is called the Articles of Organization. This document is not complicated and it contains basic information, including your LLC's name, your LLC's office address, and the county where your LLC office is located. There are two ways you can file your Articles of Organization with the State. You can file by mail or you can file online. If you file by mail, you will print out your Articles of Organization and then mail them to the State along with a check or money order to pay the filing fee. If you file online, you will fill out your Articles of Organization on the State's website and then pay the filing fee with a debit or credit card. The State charges a one-time fee in order to form your LLC. If you chose to hire a Registered Agent for your New York LLC, you will also list their address in your Articles of Organization. [=================================] -- FILING FEE -- $200 -- ACCEPTED FORMS OF PAYMENT -- Check or Money Order / Debit or Credit Card [=================================] -- FILING BY MAIL INSTRUCTIONS -- Mail your Articles of Organization with your check or money order (for $200, made payable to the “Department of State”) to: Department of State Division of Corporations One Commerce Plaza 99 Washington Avenue Albany, NY 12231 [=================================] -- EXPECTED APPROVAL TIME -- The filing fee amount is the same for either option. The only difference is the method of payment and the approval time. If you file by mail, you'll pay the State filing fee with a check or money order, and your LLC will be approved in 1-2 weeks. If you file online, you'll pay the State filing fee with a debit or credit card, and your LLC will be approved within a few minutes. [=================================] -- WHAT DOES APPROVAL LOOK LIKE -- Once you submit your Articles of Organization along with the filing fee, the State will review and process your documents. If there are any issues with your filing, the State will contact you and tell you what corrections need to be made. If you filed by mail and there are no issues, your LLC will be approved in 1-2 weeks. If you filed online and there are no issues, your LLC will be approved within a few minutes. Either way, you will receive a Filing Receipt back from the State once your LLC is approved. This confirms your LLC is now a legally formed business in the State of New York. [=================================] -- FILING RECEIPT -- Your Filing Receipt will contain your LLC's name, the date filed, and your Department of State ID Number (DOS ID Number). The DOS ID Number is unique to your New York LLC and you will use it when dealing with the State. New York does not issue duplicate Filing Receipts, so it's very important to make a photocopy, or two, and keep the photocopy with your business records. [=================================] -- NEW YORK SECRETARY OF STATE -- 518-473-2492 (M-F: 9:00am – 4:30pm) [email protected] http://www.dos.ny.gov/corps/contact.html [=================================] -- NEXT STEP -- Once your LLC is approved you can proceed to the Operating Agreement Lesson: https://www.youtube.com/watch?v=XtmC8IlHAC0 [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 3822 LLC University
Ohio LLC - Formation Documents
 
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Step-by-step instructions: https://www.llcuniversity.com/ohio-llc/forms/ To form an LLC in Ohio, file your Articles of Organization with the Secretary of State. Articles of Organization: https://www.sos.state.oh.us/globalassets/business/forms/533a.pdf The name of the LLC Formation Document for the state of Ohio is called the Articles of Organization. This document is not complicated and contains basic information, including listing your Ohio LLC’s Registered Office and Registered Agent. It will also require you to list your LLC's name and the name and address of the LLC member(s). If you are going to use another Commercial Registered Agent, you will first need to hire them, and then obtain the Articles of Organization from them which will have their address and signature. [=================================] -- COMMERCIAL REGISTERED AGENT -- We recommend Northwest Registered Agent: https://www.llcuniversity.com/go/ohio-registered-agent/ (using a Registered Agent offers a degree of privacy when forming your Ohio LLC) [=================================] -- FILING FEE -- $99 -- ACCEPTED FORMS OF PAYMENT -- Check or Money Order [=================================] -- FILING INSTRUCTIONS -- Mail a copy of your completed Articles of Organization and your check or money order for $99 made payable to the “Ohio Secretary of State” to: Ohio Secretary of State P.O. Box 670 Columbus, OH 43216 [=================================] -- EXPECTED APPROVAL TIME -- You will usually receive approval of your filing within 3-7 business days. [=================================] -- WHAT DOES APPROVAL LOOK LIKE -- Once you mail the filing fee, along with a copy of your completed Articles of Organization, you can expect two things: First, within 3-7 business days, the State will send you back an approval certificate stamped with their seal that shows the name of your Ohio LLC and the registration number assigned to it by the Secretary of State. Included with the approval certificate will be an insert that details your next steps. It provides instructions on how to register with the Ohio Department of Taxation. If you are unsure how to register with Ohio Department of Taxation, we recommend you speak with accountant or tax professional for guidance. It is a good idea to start looking for a tax professional once your LLC is formed, so you can find someone you are comfortable with and that will help you keep your business tax compliant. We recommend using Thumbtack to find an Ohio accountant that works well for you: https://www.thumbtack.com/:MbpJOOxJsNvvQ/request Your LLC is now a legally formed business in the State of Ohio. Until you have confirmation your LLC has been officially approved, do not order your EIN (Federal Tax ID Number) or start to use your LLC for business purposes. [=================================] -- ANNUAL REPORTING & TAXES -- Most states require LLCs to file annual reports with the Secretary of State. The good news is that Ohio does not have any annual reporting requirements for LLCs. You will, however, still need to file your taxes on an annual basis. [=================================] -- OHIO SECRETARY OF STATE -- 614-466-2655 877-767-6446 [email protected] [=================================] -- NEXT STEP -- Once your LLC is approved you can proceed to the Operating Agreement Lesson: https://www.youtube.com/watch?v=XtmC8IlHAC0 [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 6633 LLC University
Florida LLC - Annual Report
 
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Step-by-step instructions: https://www.llcuniversity.com/florida-llc/forms/ Annual Report Filing (can only be done online): http://www.sunbiz.org/ The Annual Report needs to be filed every year for Florida LLCs, and is due between January 1st and May 1st. If this is your first year filing an annual report, your annual report is due between January 1st and May 1st of the calendar year following the year of formation. [=================================] -- ANNUAL FILING FEE -- $138.75 -- ACCEPTED FORMS OF PAYMENT -- Check, Money Order, or Credit Card [=================================] -- DUE DATE -- The Florida LLC Annual Report is due between January 1st and May 1st. There is a $400 late fee for filing after May 1st. [=================================] -- FLORIDA SECRETARY OF STATE -- 850-245-6051 http://sunbiz.org/ [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 3502 LLC University
Colorado LLC - Formation Documents
 
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Step-by-step instructions: https://www.llcuniversity.com/colorado-llc/forms/ To form an LLC in Colorado, file your Articles of Organization with the Secretary of State. Articles of Organization: http://www.sos.state.co.us/biz/FileDoc.do Colorado does all their filing online, so there is no option to file your Articles of Organization by mail. You will need to file your Articles of Organization and pay the one-time filing fee on the state's website. [=================================] -- FILING FEE -- $50 -- ACCEPTED FORMS OF PAYMENT -- The one-time filing fee must be paid with a debit or credit card. The state only accepts VISA, Mastercard, or American Express. [=================================] -- EXPECTED APPROVAL TIME -- Once you submit your Colorado Articles of Organization along with the filing fee, your LLC will be instantly approved. Print and/or save a copy of your approved Articles of Organization from the Summary Page. [=================================] -- COLORADO SECRETARY OF STATE -- Phone: 303-894-2200 (hours: M-F, 8:00am – 5:00pm MT) Email: [email protected] (they reply fast) [=================================] -- NEXT STEP -- Once your LLC is approved you can proceed to the next Lesson: https://www.youtube.com/watch?v=XtmC8IlHAC0 [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 3246 LLC University
California LLC - Name Search
 
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Step-by-step instructions: https://www.llcuniversity.com/california-llc/search/ California LLC search: https://businesssearch.sos.ca.gov/ The first step to forming an LLC in California is to search your desired LLC name. When choosing your California LLC name, you have to follow certain requirements: 1. The abbreviations “LLC” or “L.L.C.” must be used at the end of your name. The abbreviation “LLC” is the most common. 2. Because an LLC is not a Corporation, your desired name can’t use the word “Corporation”, “Incorporated,” or their abbreviations (“Corp.”, “Inc.”) 3. The name of your LLC must also be distinguishable. It needs to be unique when compared to the existing businesses found in the California database. Make note of: • Designators (Inc./Corp./LLC/L.L.C.) • Grammatical differences (singular/plural, a/an/the, and/&/or, hyphens/slashes/periods/commas) • Alphanumeric • Deceptively similar names [=================================] -- TIPS TO PICKING A GREAT LLC NAME -- • Be creative • Pick a name which is short and easy to spell • The name should have a positive connotation so people can easily remember it [=================================] -- CALIFORNIA SECRETARY OF STATE -- 916-653-3794 (LLC Unit) press 1 for new LLCs, press 2 for existing LLCs or general questions 213-897-3062 (LA Regional Office) 916-657-5448 (Main line; support is hard to get) http://www.sos.ca.gov/administration/contact-information/ [=================================] -- NEXT STEP -- Once you have chosen your California LLC Name, you can proceed to the next Lesson: https://www.youtube.com/watch?v=UjzENQv46Vo [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 6454 LLC University
Pennsylvania LLC - Certificate of Organization
 
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*IMPORTANT: Forms have since changed and video is a bit outdated. Please see website: https://www.llcuniversity.com/pennsylvania-llc/forms/ To form an LLC in Pennsylvania, file your Certificate of Organization and Docketing Statement with the Corporation Bureau. Certificate of Organization: http://www.dos.pa.gov/BusinessCharities/Business/RegistrationForms/Documents/Updated%202017%20Registration%20Forms/Domestic%20Limited%20Liability%20Company/15-8821%20Cert%20of%20Org-Dom%20LLC.pdf Docketing Statement: http://www.dos.pa.gov/BusinessCharities/Business/RegistrationForms/Documents/Updated%202017%20Registration%20Forms/Docketing%20Statements/15-134A%20Docketing%20statement%20creation.pdf [=================================] -- FILING FEE -- $125 -- ACCEPTED FORMS OF PAYMENT -- Check or Money Order [=================================] -- REGISTERED AGENT -- A Registered Agent is a person or a company who agrees to accept legal mail and important documents on behalf of your LLC in case your LLC is sued. This address and point of contact are known as your Registered Office and your Registered Agent. The Registered Agent is located at the Registered Office and is generally available during normal business hours. The Registered Office must be a street address (cannot be a PO Box) located in the state where your LLC is formed. [=================================] -- IF YOU HAVE A STREET ADDRESS IN PENNSYLVANIA -- 1. You, as an individual, can be your LLC's Registered Agent. -- IF YOU DON’T HAVE A STREET ADDRESS -- 2. A friend or family member can be your LLC's Registered Agent. (Remember, they must have a street address located in Pennsylvania.) 3. Or you can hire a Commercial Registered Agent. (Using a Commercial Registered Agent also offers a degree of privacy) [=================================] -- COMMERCIAL REGISTERED AGENT -- A Commercial Registered Agent is a company that specializes in receiving Service of Process on behalf of businesses nationwide. They typically charge between $100-300 per year. They will receive Service of Process on behalf of your LLC and then forward it to you by mail at any address you'd like. Most will also fax or email your documents if preferred. We recommend a company called Northwest Registered Agent; they have been in business for more than two decades and they have a solid reputation. Their fees are among the most affordable, and their support is top notch. Use the following link to sign up with Northwest Registered Agent: https://www.llcuniversity.com/go/pennsylvania-registered-agent/ [=================================] -- EXPECTED APPROVAL TIME -- It will take approximately 7-10 business days for your LLC to be approved. [=================================] -- PENNSYLVANIA BUREAU OF CORPORATIONS -- 717-787-1057 (phone) 717-705-0927 (fax) [email protected] (email) [=================================] -- NEXT STEP -- Once your LLC is approved you can proceed to the Operating Agreement Lesson: https://www.youtube.com/watch?v=XtmC8IlHAC0 [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 7151 LLC University
LLC Filing Fees by State
 
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Check updated LLC filing fees: https://www.llcuniversity.com/llc-filing-fees-by-state/ LLC FILING FEES BY STATE: Alabama LLC, $183 Alaska LLC, $250 Arizona LLC, $50 Arkansas LLC, $50 California LLC, $70 Colorado LLC, $50 Connecticut LLC, $160 Delaware LLC, $90 Florida LLC, $125 Georgia LLC, $100 Hawaii LLC, $50 Idaho LLC, $100 Illinois LLC, $150 (used to be $505) Indiana LLC, $90 Iowa LLC, $50 Kansas LLC, $165 Kentucky LLC, $40 (sorry, I said $90 in the video) Louisiana LLC, $100 Maine LLC, $175 Maryland LLC, $100 Massachusetts LLC, $500 Michigan LLC, $50 Minnesota LLC, $160 Mississippi LLC, $50 Missouri LLC, $105 Montana LLC, $70 Nebraska LLC, $105 Nevada LLC, $75 New Hampshire LLC, $100 New Jersey LLC, $125 New Mexico LLC, $50 New York LLC, $200 North Carolina LLC, $125 North Dakota LLC, $135 Ohio LLC, $99 Oklahoma LLC, $100 Oregon LLC, $100 Pennsylvania LLC, $125 Rhode Island LLC, $150 South Carolina LLC, $110 South Dakota LLC, $150 Tennessee LLC, $300 Texas LLC, $300 Utah LLC, $70 Vermont LLC, $125 Virginia LLC, $100 Washington LLC, $180 Washington D.C. LLC, $220 West Virginia LLC, $100 Wisconsin LLC, $130 Wyoming LLC, $100 [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 2502 LLC University
LLC Registered Agent - Northwest Registered Agent
 
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Northwest Registered Agent: https://www.llcuniversity.com/go/northwest-registered-agent/ Our website: https://www.llcuniversity.com A Commercial Registered Agent is a company that specializes in receiving Service of Process on behalf of businesses nationwide. They typically charge between $100-300 per year. Once hired, they will receive Service of Process on behalf of your LLC and then forward it to you by mail at any address you'd like. Most will also fax or email your documents if preferred. If you decide to hire a Commercial Registered Agent, we recommend Northwest Registered Agent. They have been in business for more than two decades and they have a solid reputation. Their fees are among the most affordable, and their support is top notch. This video will show you how to sign up for their services. Using a Commercial Registered Agent also offers a degree of privacy when forming your LLC. Northwest Registered Agent 509-768-2249 https://www.llcuniversity.com/go/northwest-registered-agent/ [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 3463 LLC University
North Carolina LLC - Name Search
 
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Step-by-step instructions: https://www.llcuniversity.com/north-carolina-llc/search/ North Carolina LLC search: https://www.sosnc.gov/search/index/corp The first step to forming an LLC in North Carolina is to search your desired LLC name. When choosing your North Carolina LLC name, you have to follow certain requirements: 1. The abbreviations “LLC” or “L.L.C.” must be used at the end of your name. The abbreviation “LLC” is the most common. 2. Because an LLC is not a Corporation, your desired name can’t use the word “Corporation”, “Incorporated,” or their abbreviations (“Corp.”, “Inc.”) 3. The name of your LLC must also be distinguishable. It needs to be unique when compared to the existing businesses found in the North Carolina database. Make note of: • Designators (Inc./Corp./LLC/L.L.C.) • Grammatical differences (singular/plural, a/an/the, and/&/or, hyphens/slashes/periods/commas) • Alphanumeric • Deceptively similar names [=================================] -- TIPS TO PICKING A GREAT LLC NAME -- • Be creative • Pick a name which is short and easy to spell • The name should have a positive connotation so people can easily remember it [=================================] -- NORTH CAROLINA SECRETARY OF STATE -- Department of the Secretary of State Corporations Division Phone: 919-807-2225 (hours: 8am – 5pm Eastern) Email: [email protected] [=================================] -- NEXT STEP -- Once you have chosen your LLC name, you can proceed to the next Lesson: https://www.youtube.com/watch?v=vdwsJXIVobc [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 4619 LLC University
New York LLC - Annual Report (Biennial Statement)
 
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Step-by-step instructions: https://www.llcuniversity.com/new-york-llc/biennial-statements/ File your Biennial Statement online: https://appext20.dos.ny.gov/corp_ebiennial_public/corp_app.e_biennial.main_page The purpose of the Biennial Statement is to keep the State updated with your LLC's contact information. The Biennial Statement includes your LLC name, your address for Service of Process, and your Department of State ID Number ("DOS ID Number"). If there are changes to your address for Service of Process, you will just need to update the State and pay the fee. If there are no changes to your address for Service of Process, you will just pay the fee. [=================================] -- FEE -- The Biennial Statement filing fee is $9. -- ACCEPTED FORMS OF PAYMENT -- Debit or Credit Card -- AVAILABLE FILING TIMES -- New York requires that you file your Biennial Statement online. The online filing is only available Monday through Friday from 6:00am - 7:30pm EST. [=================================] -- DUE DATE -- Your New York LLC’s Biennial Statement is due every two years by the end of your LLC's anniversary month. Your LLC's anniversary month is the month in which your LLC was approved by the State. New York will send you a reminder at the beginning of your anniversary month. If you formed your LLC online, the state will EMAIL you a reminder. If you formed your LLC by mail, the state will MAIL you a reminder. At some point in the near future, New York has indicated that they will stop sending reminders by mail. We suggest you put a repeating reminder on your calendar to make sure you file on time every 2 years. [=================================] -- PENALTY FOR LATE PAYMENT -- Failure to file your Biennial Statement on time will result in New York marking your LLC as "not in good standing". In order to fix this, you will need to call New York and request your Biennial Statement form. New York will mail you the Biennial Statement form, since you will no longer be able to access it on the State's website. Until you have taken care of this, your New York LLC may be restricted from certain business transactions in the State. [=================================] -- NEW YORK SECRETARY OF STATE -- 518-473-2492 (M-F: 9:00am – 4:30pm) [email protected] (email) http://www.dos.ny.gov/corps/contact.html [=================================] -- NEXT STEP -- After you’ve watched this Lesson, please set a calendar reminder to file your Biennial Statement every 2 years. Once done, you can then proceed to the next Lesson: https://www.llcuniversity.com/new-york-llc/taxes/ [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 2324 LLC University