If you're ready to start a business, there are a few important tips you should know. The first step in starting a business is to understand what type of company you wish to run. Choosing a company structure will affect your obligations as an owner, such as your scope of liability, how you report taxes and what filing requirements you must meet.
Two of the most common commercial structures are limited liability companies (LLC) and corporations. An LLC combines aspects of both partnerships and corporate structures, allowing you to enjoy both limited liability and tax flexibility. The personal liability of LLC owners is limited to the assets of the company. LLCs do not report taxes as a business entity. Each owner reports his or her share of profits or losses through individual tax returns. Corporations, on the other hand, have a distinct legal identity independent from their shareholders or owners. In many ways, a corporation acts as an individual person - it must file taxes and can be a party to legal contracts, open bank accounts, and be subject to lawsuits.
Starting a business requires establishing an original name and registering your company in the home state where you wish to operate. While the registration process varies from state to state, LLC owners typically file an Articles of Organization that identifies its members while corporation owners file an Articles of Incorporation establishing the corporate board.
Regardless of their structure, if you start a business and plan to operate within U.S. borders are required by law to designate a "registered agent," a person or company that is responsible for receiving any official documentation from the state government on your company's behalf. Referred to in some states as a "resident agent," this individual or firm must maintain a physical address where "service of process" - legal documents, notifications or other paperwork - may be delivered during normal business hours.
Selecting your registered agent is an important decision, as the good standing of your company may be at stake. The agent should be someone you can trust to promptly forward you information and notify you of impending deadlines so that your company can meet its legal and regulatory obligations and continue to grow.
If you're looking for a trusted registered agent for your new business, schedule an appointment with National Registered Agents, Inc. (NRAI). NRAI is a professional registered agent service provider with a broad network of trusted specialists in every U.S. state. With a wealth of knowledge and experience helping clients form new business entities, NRAI can tailor its services for any company - from small- and medium-size businesses to large corporations.
Visit our website, www.registeredagent.com, or call us today at (800) 520-6724 for a one-on-one consultation with our customer service specialists. We'll show you how NRAI can help you achieve your business goals.