Although it may seem weird, it is extremely typical to incorporate yourself without a business. To profit from the legal and financial advantages of incorporation, many people decide to form their own businesses. It’s crucial to remember that incorporating yourself does not give you a business right away.
In essence, when you incorporate yourself, you are making a separate legal entity from yourself. This entity is able to possess property, sign contracts, and carry out other legal actions. Additionally, it may offer you personal liability protection, meaning that your assets are shielded from obligations and debts incurred by your business.
Therefore, why would a person incorporate himself if they had no business? One justification is to safeguard private property. Incorporating yourself might add an extra layer of defense against lawsuits or other legal issues if you work as a freelancer or independent contractor. Additionally, if you plan to launch a business in the future, incorporating yourself may make it simpler to build business credit and secure financing.
Since articles of incorporation are public records, sharing them is usually acceptable. The names and addresses of the company’s directors and officials, among other sensitive information, are listed in the articles of incorporation. Redacting this information before sharing the documents online or with others is always a good practice.
Depending on your company’s needs, Georgia may be a good state in which to create an LLC. Georgia has a friendly tax environment for businesses and a comparatively inexpensive cost of living in comparison to other states. Georgia also boasts a robust economy and a wide variety of industries, which can be helpful if you want to open a business there.
The filing fees and any professional fees you might pay are a couple of the variables that affect how much it will cost to form an LLC in Georgia. The Georgia LLC filing fee is $100 as of 2021. However, if you require assistance with the incorporation procedure, you might also have to pay for legal or accounting services. In Georgia, is a business license required for an LLC?
Yes, in order to lawfully conduct business in Georgia, the majority of LLCs must secure a business license. Depending on the city or county where your firm is located, there may be different requirements for a business license. To prevent any future legal concerns, it is crucial to learn about and adhere to all necessary licensing requirements.
In conclusion, some people may find it advantageous to incorporate themselves without a firm. Protection from personal liability may be offered, and future financing applications may be simpler. Before making a choice, it’s crucial to comprehend the financial and legal ramifications of incorporation. Additionally, it’s critical to learn about Georgia’s unique criteria for LLCs and business licenses if you intend to launch a firm there.