What is a limited liability company?
An LLC is a business structure (like a corporation or sole proprietorship).
The idea is that the LLC is separate from you as the owner. You tell this entity what to do and how to do it. This business structure sells products and services and makes deals. It needs your permission to do anything. And, better yet, if done correctly, it can shield you from many liabilities. That’s what an LLC does.
Who needs an LLC?
Anyone that runs a business and wants to protect their personal liability. Anyone that wants to separate their business from themselves. Anyone that has a business partner.
Am I a single-member LLC?
Yes, if you own 100%. No, if you own your business with others (that’s called a multi-member limited liability company).
What is a registered agent?
That’s who gets the mail for your LLC. That’s it. It can be an owner or not. For most limited liability companies, the owner should be the registered agent of their business structure.
Pro Tip: Legalzoom and other online LLC businesses rely on you not knowing that the registered agent can be you. In fact, that’s their business model. They charge $300 every year for this service. This is like subscribing to a newspaper and then choosing to pay them an extra $300 to deliver it to someone else instead of you and then hoping that other person will get it to you in time.
How long does it take for Drafted Legal to file for the limited liability company?
Usually less than a week.
How long does it take to get registered?
In most states, you will have your business structure registered within 7 days.
What do I do next?
After your limited liability company is filed, you get a bank account and employer identification number. Nothing to it ; we’ll explain everything for you.
What if I need a lawyer?
Drafted Legal is not a law firm. However, if you need a lawyer, get in touch with Wesley Henderson via our contact page.