Form an LLC
To Form an LLC for your business is one of the first steps to financial independence. Creating an LLC for your business protects your personal assets from the companies liabilities. This Business Structures Separates your LLC from your personal assets and start building a company credit history that can dramatically increase your ability to: receive large investments, bank loans, grants, and much more.
Business owners are sometimes intimidated with the start-up process, trust Business Rocket to handle all your business formation needs. Business Rocket is the fastest growing Business Formation web-site on the internet. When you decide to register an LLC, use the same company that lawyers and accountants use.
Did you Know that Business Rocket is a wholesale business formation company, that handles all business entities such as: Corporations, LLC’s, DBA’s, LLP’s, and much more. Our primary customers are lawyers and accountants that outsource their business formation department to us. So why not just form an LLC directly with the source?
Click Here, If you are interested in Registering a Corporation.
|Limited Liability Company Resources (LLC)|
|What is an LLC?|
|Advantageous of an LLC?|
|Disadvantageous of an LLC?|
|Reasons to Register an LLC?|
|Compare LLC to Corporation?|
|Compare LLC to Sole-Proprietorship?|
|What are the State Fees for an LLC?|
|LLC tax Information?|
|Resources prior to Forming an LLC|
|Companies||California Corporation||California LLC||EIN Numbers|
|Pricing Comparison Chart|
* Based on an average hourly rate of $266/hour (2006 Survey of law firm economics, Altman Weil Pensa Publication).
** Based on an internal research conducted by BusinessRocket.net in Los Angeles area
*** Based on Legalzoom.com official website.
Prices above include state fees and service charges. Neither lawyers, accountants, LegalZoom.com, nor BusinessRocket.net pricing includes shipping, expediated, or special circumstance charges.
Disclaimer: BusinessRocket.net is not a law firm, and does not act as your attorney or accountant. BusinessRocket.net is a self-help business formation service that assists consumers with the business formation process. Please consult with your attonrney or Accountant regarding any questions you may have about forming a corporation.
Additional Information to Form an LLC (Limited Liability Company)
A Limited Liability Company (LLC) is a business structure allowed by state statute. LLCs are popular because, similar to a corporation, owners have limited personal liability for the debts and actions of the LLC. Other features of LLCs are more like a partnership, providing management flexibility and the benefit of pass-through taxation.
Owners of an LLC are called members. Since most states do not restrict ownership, members may include individuals, corporations, other LLCs and foreign entities. There is no maximum number of members. Most states also permit “single member” LLCs, those having only one owner.
A few types of businesses generally cannot be LLCs, such as banks and insurance companies. Check your state’s requirements and the federal tax regulations for further information. There are special rules for foreign LLCs.
IRS Tax Classifications for LLC’s (Limited Liability Companies)
The federal government does not recognize an LLC as a classification for federal tax purposes. An LLC business entity must file a corporation, partnership or sole proprietorship tax return.
An LLC that is not automatically classified as a corporation can file Form 8832 to elect their business entity classification. A business with at least 2 members can choose to be classified as an association taxable as a corporation or a partnership, and a business entity with a single member can choose to be classified as either an association taxable as a corporation or disregarded as an entity separate from its owner, a “disregarded entity.” Form 8832 is also filed to change the LLC’s classification.
Effective Date of Election for LLC’s (Limited Liability Companies)
The election to be taxed as the new entity will be in effect on the date the LLC enters on line 8 of Form 8832. However, if the LLC does not enter a date, the election will be in effect as of the form’s filing date. The election cannot take place more than 75 days prior to the date that the LLC files Form 8832 and the LLC cannot make the election effective for a date that is more than 12 months after it files Form 8832. However, if the election is the “initial classification election,” and not a request to change the entity classification, there is relief available for a late election (more than 75 days before the filing of the Form 8832).
Please be advised that the information provided above is being resourced from the IRS website, if you have any Tax or Accounting Questions please contact a state licensed Accountant. If you are unable to find a Professional Accountant,Contact BusinessRocket.net & we will set you up with a Professional in your area. Business Rocket is not liable for any professional services offered by the referred Accountant.
Here are some other services that your business may be able to utilize:
and Virtual Offices.