One of the crucial steps in launching a firm is submitting articles of incorporation. It is the procedure for creating a corporation or LLC lawfully. It aids in isolating personal assets from business liabilities and offers crucial legal protection for business owners. The price to file articles of incorporation in Washington, however, may change based on the kind of company and the turnaround time.
The Certificate of Formation for a Washington State Limited Liability Company requires a $200 filing fee. It may take up to 10 business days to complete this transaction at the normal rate. However, you might need to pay an extra price of $50 for 24-hour processing time or $100 for same-day processing time if you need expedited service. Accordingly, depending on the processing period, the total cost of filing articles of incorporation for a Washington LLC might range from $200 to $300.
Choosing between an LLC and a S Corp depends on the particular requirements of the company. The owners of LLCs are referred to as members, and they have more latitude in terms of management and taxation. S Corps are more formalized and have particular standards for executives, directors, and stockholders. Additionally, they could receive additional tax benefits and are subject to more regulations. To choose the proper entity for your business, it is best to speak with an accountant or lawyer.
If a small business in Washington is operating under a name other than the owner’s legal name, such as a DBA (doing business as), they must register with the Secretary of State’s office. To safeguard customers and promote accountability in commercial transactions, this registration is necessary. However, you are immediately registered with the state if you are creating a business or LLC. In conclusion, the price of submitting articles of incorporation in Washington varies based on how quickly the application is processed and what kind of organization it is. If a small business uses a name other than its legal name, it must register with the state. The particular requirements of the business will determine whether to choose an LLC or a S Corp. A lawyer or accountant should be consulted before making a choice.