Though it can be an exciting moment, starting a business can also be stressful. There are several processes involved in launching a business, and creating a legal corporation is one of the most crucial ones. The Limited Liability Company (LLC) is one of the most often used types of legal companies, though there are many others. The well-known online business LegalZoom provides LLC formation services, but is it worthwhile?
Economy, Standard, and Express Gold are the three main LLC formation programs that LegalZoom offers. The Economy package, which costs $79 plus state filing fees, is the most economical, but it just contains the essentials, such the creation of the LLC and a unique operating agreement. Everything in the Economy package is included in the $329 Standard plan, which also comes with a banking resolution, an EIN number, and a premium organizer binder. Everything in the Standard package is also included in the $349 Express Gold package, which also comes with accelerated processing and a business advisory plan.
Convenience is one of the key advantages of utilizing LegalZoom to incorporate an LLC. Using an intuitive interface, LegalZoom gives a step-by-step formation procedure instruction. They also provide a satisfaction guarantee, meaning that they will return your money if you are dissatisfied with their service. It’s crucial to remember that LegalZoom is not a law firm and cannot offer legal counsel. You must engage a lawyer if you require legal counsel.
The speed of using LegalZoom to form an LLC is another advantage. Typically, LegalZoom can process your LLC formation papers more quickly than you could if you tried to do it yourself. This can be very useful if you need to launch your firm quickly. It’s crucial to keep in mind that certain states have slower processing times than others, so you should inquire about these times with the Secretary of State’s office in your state.
Cost is one drawback of using LegalZoom to incorporate an LLC. The Standard and Express Gold packages are more expensive than if you were to do it yourself, whereas the Economy option is reasonably priced. It might be worthwhile to do it yourself if you have a limited budget. However, keep in mind that there are additional expenses related to creating an LLC, such as state filing fees, so you’ll need to take those into consideration when making your choice.
There are more actions you must take in addition to creating an LLC in order to launch your firm. Getting certified as a BOC 3 process agent is one of those processes. A BOC 3 process agent is a person or organization chosen to accept legal documents on your company’s behalf. You must submit a BOC 3 form to the Federal Motor Carrier Safety Administration (FMCSA) in order to become a BOC 3 process agent.
You will also need to file a corporation filing. The process of registering your business with the state in which you intend to operate is known as corporate filing. You should contact your state’s Secretary of State office to find out what the requirements are since each state has different corporation filing procedures.
You might be wondering who can serve as a registered agent if you’re starting a nonprofit in Texas. A registered agent for a nonprofit organization in Texas must be a Texas resident or a Texas company that is permitted to conduct business there. Additionally, the registered agent must reside in Texas at a physical address.
Writing a business purpose for your LLC is the last step. An explanation of what your company performs and why it exists can be found in your business purpose statement. Your company’s goal should be precise, succinct, and unambiguous. Additionally, it must to be sufficiently wide to enable future growth and expansion for your company.
In conclusion, LegalZoom may not be the most economical alternative for LLC formation, but it can be a practical and quick option. It’s crucial to balance the advantages and disadvantages of creating an LLC and take other expenses into account. Starting a firm also entails other steps, such as registering as a BOC 3 process agent, filing a corporate form, and formulating a statement of purpose. To guarantee that your firm is prepared for success, it is crucial to conduct thorough research and make educated judgments.