Six Easy Steps to Registering Your LLC
(Originally posted on LinkedIn)
As an Epic Independent Contractor, you have the ability to reap the incredible benefits of starting your own LLC! Some benefits include pass-through tax advantages in addition to other unique sole proprietorship tax advantages, limited personal liability as well as being a premier vehicle for holding appreciating assets such as real estate, stock portfolios, and intellectual property. Here are six easy steps to registering your LLC.
First things first.
You must make sure that you qualify to be considered as an “Independent Contractor” according to the IRS guidelines. Click HERE to make sure you qualify!
Choose your state.
Before choosing your state you must determine where you mainly work your "business" or which state you typically contract in. For example, you live in Massachusetts but the majority of your contracts are in Pennsylvania.
Choose your LLC name.
This is a fun one! Your business name represents you and being able to choose a professional, or fun, business name distinguishes who you are. For example; if you are an Epic Stork Analyst you could name your name baby or labor/delivery related!
Select a registered agent.
Select an agent to receive all of your legal paperwork connected to your LLC. This agent can be an entity or a person authorized to receive these legal papers.
File your Articles of Organization (A.O.)
To file the Articles of Organization you will need your LLC name, the name, and address of your registered agent, a statement of purpose for your LLC and the names of the initial members.
Get your Employer Identification Number (EIN).
Your LLC will most likely be required to obtain a Federal Employer Identification Number. Most banks will require you to give your EIN before you'll be able to open a bank account for your LLC.
And that's all folks! If you choose to register your LLC through a company such as Legal Zoom, you will typically be provided with an agent that you will be able to contact during this process to help answer any questions you may have.