The good news is that Washington State allows you to act as your own registered agent. Before choosing this course of action, there are a few things to keep in mind. Prior to receiving legal documents, you must have a physical address in the state where you can be reached during regular business hours. There can be no virtual or PO Boxes at this address. Second, you must be accessible during these times in order to receive documents and give timely attention to them. If you are unavailable, there may be significant repercussions, such as default judgments and other legal sanctions.
The Secretary of State must receive an annual report from LLCs in Washington State. The annual report informs the state of the operations of your LLC, including any alterations to the members, registered agent, or business address. By the anniversary of the establishment or state registration of your LLC, the report is required each year. Penalties and the dissolution of your LLC may follow late submission of the report.
A Washington State annual report must be filed for $60. The report can be submitted by mail or online through the Secretary of State’s website. You must enclose a check or money order for the filing fee if you file by mail. A $25 late filing penalty cost applies.
An individual with the power to act on the LLC’s behalf is referred to as an authorized person. This person may be a member, manager, or an outsider named in the operating agreement of the LLC. The authorized person has the authority to act on behalf of the LLC in binding agreements, opening bank accounts, and other business decisions.
Your business objectives and personal situation will determine whether you should form an LLC or a single proprietorship. The easiest and most affordable way to launch a business is as a sole proprietorship. However, it offers no protection against personal liability, so if your company is sued or goes into debt, your personal assets could be at danger.
On the other hand, an LLC offers its members personal liability protection. This implies that corporate debts and legal actions cannot be used to access your personal assets. An LLC also provides additional flexibility in terms of ownership structure and taxation. A sole proprietorship is simpler and less expensive to set up and manage than an LLC.
In conclusion, it is feasible to act as your own registered agent in Washington State, but there are dangers and obligations involved. Your LLC must submit an annual report, which has a filing fee of $60. An LLC’s authorized representative may act on behalf of the LLC legally. Your personal circumstances and business objectives will determine whether you should form an LLC or a sole proprietorship.
A UBI number is a distinctive identifier given to businesses in Washington State by the state’s Department of Revenue. This number is used to keep track of a company’s tax liabilities and verify compliance with state laws. You are allowed to serve as your own registered agent in Washington State, so that is good news. There are some conditions, though, such having a real address in Washington where official paperwork can be sent, as well as being a resident of the state. Being your own registered agent might include some risks and obligations, so you should carefully assess if it’s the best option for your company before making the decision.