Note: This article is not legal advice and should not be relied upon as such.
If you’re starting a business and want to form an LLC, it’s important to choose the right service to help you with the paperwork. LegalZoom, Northwest Registered Agent, Inc Authority, and Inc File are all popular options, but which one is best for you? In this post, we’ll compare their features and benefits so that you can make an informed decision. Let’s get started!
1. What is an LLC and what are the benefits of forming one?
Starting a business is a big decision, and there are a number of different business structures to choose from. One option is to form an LLC, or limited liability company. An LLC is a type of business entity that offers its owners personal liability protection from the debts and obligations of the business. In other words, if the LLC is sued, the owners’ personal assets are not at risk.
Additionally, LLCs offer several tax advantages, including the ability to pass-through business income to owners, who are then only taxed once on their personal tax return.
Lastly, LLCs can help to separate your personal and business finances, which can be helpful for both record-keeping and asset protection purposes.
If you’re considering starting an LLC, it can seem overwhelming to file the paperwork yourself. Luckily, there are many reputable companies who can help: Northwest Registered Agent, Inc Authority, and Inc File are three resources that can provide helpful information and guidance.
2. How do you form an LLC and what are the filing requirements?
When you form an LLC, there are a few key things you need to do to get started.
First, you need to choose a name for your LLC and check to see if it’s available in your state.
Next, you need to file Articles of Organization with your state’s LLC office.
Finally, you need to draft Operating Agreement, which outlines the ownership and management structure of your LLC.
After you’ve completed these steps, you’ll need to file annual reports and pay LLC taxes.
3. What are some of the best services for setting up an LLC online?
Northwest Registered Agent LLC, Inc Authority, and Inc File are all great services for setting up an LLC online.
Northwest Registered Agent is a bit more expensive than the other two options, but they offer a lot of additional features and resources that can be helpful for new business owners.
Inc Authority is a great option because it offers a good mix of features and affordability – many of their services are free – you only pay the tax deductible state filing fee.
Inc File is the another affordable option with many free services, but they still offer a robust set of tools and resources.
Whichever service you choose, you’ll be able to get your LLC set up quickly and easily.
4. How much does it cost to set up an LLC, and how long does it take to get started?
There are a few different things that go into the cost of setting up an LLC. The first is the filing fee, which can vary from state to state. For example, the fee to file in Delaware is $90, while the fee to file in Kentucky is currently the lowest in the US at just $40.
The second is the cost of hiring a professional to help with the process, which can range from a few hundred dollars to a few thousand.
Finally, there are ongoing costs associated with maintaining an LLC, such as annual fees, taxes, and accounting costs.
The good news is that there are plenty of resources available to help with the process of setting up an LLC, and most can be completed relatively quickly and easily.
Northwest Registered Agent, Inc Authority, Inc File, and Legal Zoom are all great options for those looking to get started.
5. What are some of the things you need to do once your LLC is formed, and how can you keep it running smoothly?
Once you have formed your LLC, there are a few key things you need to do in order to keep it running smoothly.
First, you need to appoint a registered agent. This person will be responsible for receiving official correspondence on behalf of the LLC and ensuring that it is delivered to the appropriate members.
Second, you need to file paperwork with the state in which your LLC is located. This will officially register your LLC with the state and provide you with the necessary permits and licenses to operate.
Third, you need to file paperwork with the IRS. This will ensure that your LLC is compliant with federal tax laws and regulations.
Finally, you should consult with a legal professional or use a service like Legal Zoom to create an operating agreement. This document will outline the ownership structure, governance rules, and financial procedures of your LLC and help to resolve any disputes that may arise between members.
By taking these steps, you can help to ensure that your LLC is running smoothly and efficiently.
Which LLC Service Is The Best?
If you’re thinking about starting a new business, you need to form an LLC or corporation. This can be a confusing and overwhelming process, but there are a few online companies that can help.
Legal Zoom is one of the most popular choices, and they have a lot of experience, with over 20 years in business. They offer a variety of services, including formation of LLCs and corporations, trademark registration, and business licensing. Prices start at $149 + state fees, which can be pricey when you’re just getting started.
Northwest Registered Agent LLC is another popular choice, and they have been in business for over 10 years. They offer similar services to Legal Zoom, but their prices are less expensive and start at only $39 + state fees.
Inc. Authority is a newer company, but they already have a good reputation. They offer formation of LLCs and corporations for free, as well as registered agent services. Prices start at $0 + state fees and go up depending on the service you select. You only pay the state filing fees, which are tax deductible.
Inc. File is another newer company with a good reputation. They also offer LLC and corporation formation, as well as registered agent services. Prices start at $0 + state fees for their lowest cost, most basic option. For example, their most basic package at the time of this writing was only $40 to file in Kentucky (the lowest cost state to form an LLC).
So which company should you choose? It really depends on your budget and needs.
If you’re looking for the most experienced company with the widest range of services, Northwest Registered Agent LLC is, in our opinion, a great choice for a fantastic price.
If you’re on a tight budget, Inc. File and Inc Authority are also great options. Overall, all of these companies are reputable and can help you get your new business up and running quickly and easily.
So, there you have it. Our comparison of the best LLC services available today. We hope this has helped make your decision a little bit easier. If you’re still not sure which provider is right for you, don’t hesitate to reach out to us and we would be happy to help. Thanks for reading!
Resources mentioned in this article
Northwest Registered Agent LLC
Erika Finn, founder of Stacking Acorns, is an attorney who graduated from law school at University of California, Berkeley. She was a member and editor of the California Law Review and won the Prosser Prize for Legal Accounting. She holds a Master’s Degree from the University of Southern California (USC) and a Bachelor’s degree from Indiana University- Bloomington. Stacking Acorns is a personal finance website for women by women. We help mid-life women achieve financial freedom through real estate investing and other streams of passive income.