Embark on your entrepreneurial journey with confidence. Our business formation and incorporation experts guide you through the intricate process of selecting the optimal business structure, tax entity, and jurisdiction for your venture. We navigate the complexities, ensuring your business is legally compliant and strategically positioned for success from day one. With our tailored solutions, you can safeguard your assets, maximize efficiency, and lay the foundation for long-term growth.
Business Entity Selection
- Evaluation of various business structures (sole proprietorship, partnership, corporation, LLC) and analysis of tax implications.
Virtual Office Solutions
- Establish a professional image and safeguard your privacy by registering your business with a real street address in a prime location of your choice. With our virtual office solutions, you can view and manage your incoming mail conveniently through our user-friendly app or website, ensuring prompt access to your communications.
- Enhance your virtual office experience by adding a dedicated phone number and fax line, creating a complete professional suite. Our virtual office solutions provide the tools you need to project a polished and credible business identity, while maintaining the flexibility and convenience of a remote workspace.
Incorporation Services
- State-specific incorporation filings, documentation preparation, and corporate governance support.
Registered Agent Services
- Designated point of contact for official correspondence and legal documents.
Ongoing Compliance and Maintenance
- Support with annual report filings, statutory requirements, and corporate record-keeping.
Employer Identification Number (EIN) Obtainment
- Assistance in securing federal tax identification numbers for businesses.
Business Licenses and Permits Guidance
- Identification and obtainment of necessary licenses and permits for specific industries or locations.
Legal Business Entities
The legal structure of your business will impact your business registration requirements, how much you pay in taxes, and the potential for personal liability. This decision should not be taken lightly! Your form of business also determines which income tax return form you must file. The most common forms of business are the sole proprietorship, partnership, corporation, and Limited Liability Company (LLC).
Sole Proprietorships
A sole proprietor is someone who owns an unincorporated business by himself or herself and is by far the easiest and most common legal business entity. A sole proprietorship can only have one owner, a married couple doing business together are a partnership instead. For the reluctant entrepreneur or gig business, the individual may not even know that they are a sole proprietor until filling their last year’s tax return.
Partnerships
A partnership is the relationship between two or more to do trade or business. Each person or entity contributes money, property, labor or skill, and shares in the profits and losses of the business. Partnerships are the simplest structure for two or more people to own a business together. There are three common kinds of partnerships: general partnership (GPs) and limited partnerships (LPs).
Corporations
In forming a corporation, prospective shareholders exchange money, property, or both, for the corporation’s capital stock. A corporation is incorporated under the laws of a state and is a legal business entity that is separate from its owners. Corporations can make a profit, be taxed, and can be held legally liable.
Limited Liability Companies (LLC)
A Limited Liability Company (LLC) is a business structure allowed by state statute. Each state may use different regulations, you should check with your state if you are interested in starting a Limited Liability Company. Owners of an LLC are called members. Most states do not restrict ownership, so members may include individuals, corporations, other LLCs and foreign entities. There is no maximum number of members. Most states also permit “single-member” LLCs, those having only one owner.
Doing Business As (DBA) name or Fictitious Name
You might need to register your Doing Business As (DBA) — also known as a trade name, fictitious name, or assumed name with the state, county, or city your business is located in. Registering your DBA name does not provide legal protection by itself, but most states require you to register your DBA if you use one. Some business structures require you to use a DBA.
Registered Agent
Several of the legal entities above require a Registered Agent, with a business address, in the State where your entity is formed. The duties of a registered agent are to forward to the entity at the address most recently supplied to the registered agent by the entity, a process, notice, or demand pertaining to the entity which is served on or received by the registered agent.
Federal Employer Identification Number (FEIN/EIN)
An Employer Identification Number (EIN), also known as a Federal Tax ID Number, is a 9-digit number issued to businesses by the Internal Revenue Service (IRS) for tax purposes. Your business’s EIN identifies your company when filing business tax returns—the same way your social security number (SSN) identifies you. Businesses that hire employees or that are taxed as a corporation or partnerships will need to get an EIN.
Where to Legally Open Your Legal Entity
A business entity is domiciled in the state in which it incorporated/organized/register. This is usually where the owners live, and the business expected to be. If a business will be operating in multiple states, it will usually also be required to register in those states. We can help guide you through identifying which location and business entity to help get your business started the right way.
