Learn More About LLCs
FAQs
What is an LLC?
An Limited Liability Company (LLC) is a legal business structure that provides owners with liability protection. This means that the owners (members) of an LLC may not be held personally responsible for business debts and liabilities.
LLC’s are taxed via pass through taxation. This means the owners (members) of an LLC pay taxes on LLC income on their personal income taxes.
How long does it take to form an LLC?
Turnaround times for LLC formation varies by state but is typically two to four weeks. Many states are currently working through extensive backlogs and normal processing may be months.
We offer expedited processing for every state which generally reduces the turnaround time to several business days (or same day, in some cases).
How will I receive my documents?
You’ll receive your filed and finalized documents straight to your email.
What is the difference between an S-Corp and an LLC?
An S Corporation (S-Corp) and a Limited Liability Company (LLC) are both common business structures in the United States. The primary difference lies in taxation and ownership.
S-Corps offer pass-through taxation, potentially resulting in tax savings for shareholders, but come with stricter eligibility criteria and more formalities.
In contrast, LLCs also offer pass-through taxation by default and provide greater flexibility in terms of ownership and management, with fewer formal requirements.
Both structures offer limited liability protection to their owners, safeguarding personal assets from business debts and liabilities.
The choice between an S-Corp and an LLC depends on individual business goals and needs, and we’d encourage you to speak with an accountant or attorney if you’re unsure which is right for you.
How much does it cost to start an LLC?
Our packages start at $99 and include the first year of registered agent services FREE.
State fees vary. If you’re interested in determining the state fees, choose your structure and select a package. The state and the total amount will calculate automatically.
How is an LLC different than a sole proprietorship?
An LLC (Limited Liability Company) provides limited liability protection to its owners (known as members), which means that their personal assets are generally protected from the company’s debts and legal liabilities.
On the other hand, a sole proprietorship is a type of business that is owned and operated by a single individual who is personally liable for all debts and legal liabilities of the business.
The main difference between an LLC and a sole proprietorship is the level of liability protection they offer their owners. An LLC provides limited liability protection, while a sole proprietorship does not. Additionally, an LLC is generally considered a separate legal entity from its owners, whereas a sole proprietorship is not.
What are the advantages of an LLC?
There are many advantages to LLC’s for business owners. We’d encourage you to speak with your attorney or accountant before determining what entity type is best for your business. Frequently cited advantages of LLC formation include:
- Pass through taxation
- Flexibility in profit allocation
- Privacy protection
- Liability protection
- Increased credibility
What is a registered agent?
A registered agent is like a business’s go-to person when it comes to dealing with the state. They handle important legal and government papers on behalf of the business, such as lawsuits, taxes, and official notices, and make sure they get to the right people.
All states require businesses to have a registered agent. It’s a crucial way to make sure businesses don’t miss out on vital information that could affect them.