Initiating your entrepreneurial journey begins by registering your business with the Secretary of State in your preferred state. At Bean Counter, we simplify this process, ensuring your venture is set up seamlessly. Already crossed this milestone? Congratulations! Let’s keep the momentum going. Let’s embark on the next stages together by filling out this form.
Business entities are diverse in nature, encompassing forms such as Sole Proprietorship, Partnership, Limited Partnership (LP), Limited Liability Company (LLC), S-Corporation, and C-Corporation. Each of these offers distinct advantages and considerations. Importantly, the choice of business structure doesn’t necessarily determine the tax structure; for example, an LLC has the option to file taxes as an S-Corporation to utilize certain tax benefits.
Which Business Entity is Right for You?
Choosing the perfect entity depends on several aspects: your position in the company, your industry, and projected revenue. Uncertain about which is best for your vision? Book a free business consultation with us, and let’s pave the way for your success.
To form an LLC, you need a business name, a business address, a management structure, and the names and addresses of all members and managers. Every LLC has at least one manager and at least one member. You should know the ownership percentage of each member. LLCs cannot issue shares.
When starting a new Corporation, ensure you have a unique business name and an official address. Decide on the number of shares you’ll issue and their value, as this determines ownership percentages. Document the details of at least three officers and one director, even if one person fills multiple roles.
Yes. While your business may be incorporated in a state like Delaware, Nevada, or Wyoming due to their advantageous corporate laws, it’s imperative to register in every state where you maintain a physical business presence. This is often as an out-of-state entity. For clarity, if you’ve incorporated in Wyoming but run operations from California, your business will be recognized as a Wyoming entity operating in California, necessitating registration in both states. Always align your registration with your operational footprint.
Yes! Bean Counter can help you obtain an EIN along with registration with the appropriate state entity. Call us at 1-844-MY-BEANC or book a free consultation.
If you’re contemplating S-Corporation tax status for your C-Corporation or LLC, understand that business profits would be reported on individual tax returns of shareholders or members. To proceed with this, most businesses must submit Form 2553 by the March 15th deadline. However, for LLCs without significant profits, an S-Corp status might not be advantageous. For further guidance, contact us for a complimentary consultation. Schedule a free consultation today!
Firstly, there’s no state registration needed, streamlining its establishment. Secondly, any income generated is automatically treated as personal income for tax purposes. However, if you choose to operate under a name different from your legal one, you must register a DBA (Doing Business As) name. If you need support in DBA registration, Bean Counter is at your service, ensuring a seamless and efficient process
Aside from an EIN and registering with your state, you may need several other documents that are likely to be requested by banks, lenders, and government agencies.
For an LLC, you generally only need Articles of Organization.
For a Corporation, you need Corporate Bylaws, Annual Meeting Minutes, and Share Certificates.
For businesses doing business under a different name than the legal entity name, you may also need a DBA (“doing business as”) name registered locally.
We invoice clients monthly on Net 30 terms. Each payment is due within 30 days after the invoice is sent. We invoice after the services are performed.
For more information, call us at 1-844-MY-BEANC or schedule a free consultation.