Unlocking Your Business Potential
How do I close a business in California? To formally close a California LLC, you must file a certificate of cancellation with the California Secretary of State. You may also need to file a certificate of dissolution. The dissolution process also includes sending a notice to your LLC’s creditors, winding up company business, and filing … Read more
Can multiple LLCs use the same DBA? For most states, two businesses will not be allowed to use the same DBA. Doing so will cause confusion, especially when the fictitious names are in the same industry. In order to use a DBA for your business, you must submit an application. Just make sure that your … Read more
Which of these are advantages of a limited liability companies? Advantages of LLC: Pass-through taxation. No restrictions on the number of members allowed. Members have flexibility in structuring the company management. Does not require as much annual paperwork or have as many formalities as corporations. Owners are not personally responsible for business debts and liabilities. … Read more
Virginia LLCs are not required to file an annual report. However, Virginia LLCs are required to pay the annual registration fee, which is currently $50 and due at the end of the LLC’s anniversary month, starting the year after formation. Read more on www.virginiaregisteredagent.com In Virginia, LLC (Limited Liability Company) owners are required to submit … Read more
Why is it better to form an LLC in Delaware? Delaware LLCs provide liability protection for owners.. One of the most appealing advantages of a properly formed LLC is the liability protection it offers business owners. Delaware takes this protection one step further by protecting the LLC from its members’ creditors. Read more on www.incorporate.com … Read more
How do I change the name of my LLC in Illinois? To amend your Articles of Organization for an Illinois LLC, you must file Articles of Amendment with the Illinois Secretary of State, Department of Business Services, Limited Liability Division. In addition, you must pay a $50 filing fee. Read more on www.northwestregisteredagent.com As a … Read more
Can an LLC change its year end? An LLC taxed as a C corporation can choose any year end as the tax year end (an LLC classified as an S corporation generally must use a calendar year end). Read more on www.thetaxadviser.com Due to their adaptability, simplicity, and protection of personal assets, limited liability companies … Read more
Is operating agreement same as articles of incorporation? An operating agreement (bylaws) is an internal document that defines how the business owners professionally relate to each other, whereas the articles of incorporation (certificate of formation) is a public document that legally establishes a business as a corporation. Read more on www.businessnewsdaily.com Entrepreneurs frequently decide to … Read more
Can you convert a single member LLC to a corporation? CONVERTING YOUR SINGLE MEMBER LLC TO A CORPORATION. By filing a Form 2553, Election by a Small Business Corporation, which is treated as a deemed election for a single-member LLC to be taxed as an S corporation association. Read more on asenaadvisors.com Due to its … Read more
Is a distributor an agent? Agents and distributors often work closely together, but their roles are very different from each other. They both sell goods that manufacturers make, and both work independently without direct employment from them, but distributors buy and sell goods while representatives act as sales agents. Read more on www.nbso-texas.com Although “distributor” … Read more