Are you growing tired of working long hours to improve someone else’s bottom line? Is it time to put your years of professional experience and expertise to work on your own behalf? If you are starting to feel an entrepreneurial itch, you are certainly not alone–the principles of business ownership and free enterprise hold deep roots in America. When you own your own business, you not only become your own boss, but you can enjoy potentially uncapped earnings, as your business can grow however much you desire. Of course, that all does come with a significant amount of hard work. In the early days, especially, you can expect to sacrifice a lot of nights and weekends in order to give your business the proper foundation it needs to succeed. You will need to devise a comprehensive business plan that not only identifies overhead costs pertaining to the services or products you will offer but will also need to clearly identify your target market. You may also want to think about signing a lease on office space or a retail location, in addition to potentially hiring a team of employees. Another way in which you can position your business for success is by creating a limited liability company (LLC). At Corporation Center, we can help you process your LLC online application by using our streamlined web forms.
If you have spent any meaningful amount of time in the professional world, you may have some sort of handle on what a limited liability company is. At a very basic level, an LLC is a way in which you can legally structure your organization. LLCs tend to be popular among new and seasoned business owners alike due to their ease of creation, as well as the benefits that they provide. There are, of course, other ways to structure your business, and whether you decide to form an LLC or not will largely depend on the needs and goals of your organization. For businesses that are focused on rapid growth, the ability to issue stock that comes with forming a corporation can be especially appealing. If you are a licensed professional, such as a doctor, lawyer, or accountant, you may benefit from creating a limited liability partnership (LLP). For many, though, it is hard to go wrong with filling out an LLC online application–read on to learn more.
Why Should You Complete an LLC Online Application?
So, your business plan is locked and loaded and you have assembled a rock-star team. Before your business can become the next global giant, though, you will want to think a bit about the big picture, and completing an LLC online application can help you do that. In simple terms, creating a limited liability company separates your business as its own legal entity. An LLC, much like an individual, can own property, hire and fire employees, pay taxes, and loan or borrow money. When you form an LLC, you create a barrier between yourself and your business via the concept of limited liability protection. This means that should your business face a deluge of lawsuits, or file for bankruptcy, you and the other business owners will be able to protect your personal assets. In more simple terms, if your business does not work out, you will not have to surrender your home or 401k as a consequence. As you can probably imagine, this can remove a considerable amount of risk in starting a business.
Another sizable benefit to starting an LLC comes down to how it is taxed. The Internal Revenue Service (IRS) deems LLCs to be what are called “flow-through” entities. This means that profits and losses (as well as credits and deductions) can be passed from the business to its owners. To put it another way, you will not need to pay taxes on both the profits of your business and your salary, as they will “flow through.” This tax incentive can be huge for your bottom line and it often makes creating an LLC something of a no-brainer.
How to File Your LLC Forms Online
It can vary a bit from state to state, but there is a general process to follow in order to form an LLC. You will typically need to choose a name for your business that is not already registered in your state. You will also likely need to designate a registered agent to receive all tax, legal, and government correspondence on behalf of your business. From there, you can draw up your articles of organization (sometimes called a certificate of formation) and submit them to your secretary of state’s office for processing. This document should include some basic details about your business and its owners. At Corporation Center, we can help you accomplish this online. Simply select your state from our side navigation menu and you will find online forms for all of your business structure needs.