LLC: pass-through tax, simple, default for solo and small. Best for: bootstrapped, real estate, side hustles....
Operating in your home state? Form there. Out-of-state formation = double filings....
The Operating Agreement is your LLC's constitution. Even if your state doesn't require one, you need one — especially if there's more than one owner....
The EIN (Employer Identification Number) is your business's federal tax ID. You need it to: - Open a business bank account - Hire employees - File tax...
Every state requires a Registered Agent — a person/company at a physical state address to receive legal mail. You can be your own RA, but:...
Annual reports. Franchise tax. BOI report. Sales tax. Foreign qualification renewals. Miss one and your company can be administratively dissolved....
Since 2024, most US LLCs and Corps must file a Beneficial Ownership Information report with FinCEN. It identifies the people who actually own and cont...
If you "do business" in another state — employees, office, regular sales, real estate — you must register there as a foreign entity. Skipping it = fin...
To register in another state ("foreign qualify"): 1. Get a Certificate of Good Standing from your home state. 2. File an application in the new state ...