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Is my Limited Liability Company Name Available? |
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| A1A will check the name in the state that you want to form the company. Once the company has been filed and accepted by the state you can then use the name. A1A Corporate Services can not guarantee whether or not your LLC name infringes on the rights of someone else. |
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| What is a Registered Agent? |
| It is a requirement to have a Registered Agent. Usually someone from the company will act as the Registered Agent provided that they have a street address in the state of formation. However if you do not have a street address in the state of formation we can appoint a Registered Agent. |
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| What are Articles of Organization? |
| The Articles of Organization is a document filed with the Secretary of State to form the Limited Liability Company (LLC). The documents specifies information such as the Name of Company, Address, Registered Agent and Office, Names and Address of Initial Member or Managers, and additional provisions can be added provided they conform to state law. |
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| What is a Member? |
| The members are the owners of the LLC. The owners can be individuals or other entities (such as Corporation, LLC or other entities). |
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| What is a Managing Member? |
| A Managing Member is an owner of the Limited Liability Company who is also managing the company. |
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| What are the Managers? |
| The Managers of the LLC are appointed by the Members in the event the LLC will not be managed by the members. |
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| What is a Federal Employer Identification Number? |
| The Federal Employer Identification Number is also known as the Fed ID, Tax ID, Federal ID Number and or Employer ID. The Federal ID Number is a 9 Digit number similar to a Social Security Number. The Fed Id is issued for businesses so that they can file Tax Returns and open Business Bank Account. |
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| What is an LLC Operating Agreement? |
| The Operating Agreement is an agreement between the owners(members) specifying who owns what percentage of the company, who the company will be managed, who will contribute what to the business and many other provisions. A1A Corporate Services provides a sample Operating Agreement automatically when you form an LLC with us. |
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| How will the LLC be taxed? |
Typically when there is only one individual owner of the LLC, the company is taxed like a sole proprietorship. The individual owner of the LLC file a Schedule C Profit and Loss on their personal tax return.
If there are 2 more owners, the LLC is normally taxed as a Partnership and files IRS Tax Return Form 1065.
One of the nice features of the LLC is that it can be converted for tax purpose to Corporation or S Corporation by first filing IRS Form 8832 to classify the entity as Corporation and then by filing IRS Form 2553 for the S-Corp Election. |
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| Can I operate the business from home? |
| Typically a business can be operated from home but a business license is usually required. The business license can be obtained from the city or county where the business is located. |
