3 Easy Steps
1. Complete our simple online questionnaire.
2. We create your entity documents and file them with the Secretary of State.
3. You receive your final entity package.
An LLC is a business entity created under state law that can shield you from personal liability. LLCs are becoming the most popular way to start a business due to their ease and flexibility.
Your Business Blue Print LLC includes:
A personalized operating agreement
Provisions to safeguard your personal assets from $199 (+state filing fee)
With an LLC, it’s a good idea to have a well-written operating agreement that explains the rights and responsibilities of its owners and how the company will run.
A limited liability company is a hybrid type of legal structure that provides the limited liability features of a corporation and the tax efficiencies and operational flexibility of a partnership.
The “owners” of an LLC are referred to as “members.” Depending on the state, the members can consist of a single individual (one owner), two or more individuals, corporations or other LLCs.
Unlike shareholders in a corporation, LLCs are not taxed as a separate business entity. Instead, all profits and losses are “passed through” the business to each member of the LLC. LLC members report profits and losses on their personal federal tax returns, just like the owners of a partnership would.
Advantages of an LLC:
- Members are protected from personal liability for business decisions or actions of the LLC. This means that if the LLC incurs debt or is sued, members’ personal assets are usually exempt. This is similar to the liability protections afforded to shareholders of a corporation. Keep in mind that limited liability means “limited” liability – members are not necessarily shielded from wrongful acts, including those of their employees.
- Less Record keeping. An LLC’s operational ease is one of its greatest advantages. Compared to an S-Corporation, there is less registration paperwork and there are smaller start-up costs.
- Sharing of Profits. There are fewer restrictions on profit sharing within an LLC, as members distribute profits as they see fit. Members might contribute different proportions of capital and sweat equity. Consequently, it’s up to the members themselves to decide who has earned what percentage of the profits or losses.
Did you know?
Venture capital is a type of equity financing that addresses the funding needs of entrepreneurial companies that cannot seek capital from more traditional sources.
A corporation is a separate and distinct entity under the law. The corporate business structure can help shield the business’s owners–the corporation’s shareholders–from liability and, under some circumstances, help them reduce their taxes. Starting at $199.00 (+ state filing fee)
Corporation (C Corporation)
A corporation (sometimes referred to as a C corporation) is an independent legal entity owned by shareholders. This means that the corporation itself, not the shareholders that own it, is held legally liable for the actions and debts the business incurs.
Corporations are more complex than other business structures because they tend to have costly administrative fees and complex tax and legal requirements. Because of these issues, corporations are generally suggested for established, larger companies with multiple employees.
For businesses in that position, corporations offer the ability to sell ownership shares in the business through stock offerings. “Going public” through an initial public offering (IPO) is a major selling point in attracting investment capital and high quality employees.
An S corporation (sometimes referred to as an S Corp) is a special type of corporation created through an IRS tax election. An eligible domestic corporation can avoid double taxation (once to the corporation and again to the shareholders) by electing to be treated as an S corporation.
An S corp is a corporation with the Subchapter S designation from the IRS. To be considered an S corp, you must first charter a business as a corporation in the state where it is headquartered. According to the IRS, S corporations are “considered by law to be a unique entity, separate and apart from those who own it.” This limits the financial liability for which you (the owner, or “shareholder”) are responsible. Nevertheless, liability protection is limited – S corps do not necessarily shield you from all litigation such as an employee’s tort actions as a result of a workplace incident.
What makes the S corp different from a traditional corporation (C corp) is that profits and losses can pass through to the your personal tax return. Consequently, the business is not taxed itself. Only the shareholders are taxed. There is an important caveat, however: any shareholder who works for the company must pay him or herself “reasonable compensation.” Basically, the shareholder must be paid fair market value, or the IRS might reclassify any additional corporate earnings as “wages.”
Did you know?
SBA participates in loan programs for business owners who may have trouble qualifying for a traditional loan
Starting a Nonprofit is a great way to support a worthwhile cause. Ambiance Services can help you quickly form your Nonprofit corporation. We can also complete your 501(c)(3) application for tax-exempt status.
Your Nonprofit allows you to:
Get discounts on postage and other expenses with 501(c)(3) status
Receive tax-deductible donations with 501(c)(3) status
Reassure potential donors
starting at $199.00 (+state filing fee)
If your passion is to inspire, make a difference and give back to the world, then starting a non-profit is an exciting entrepreneurial proposition. But before you start ,there are a few things to consider.
Starting a non-profit organization (NPO) is similar to starting any kind of business – together with commitment you need a clear objective, a niche (i.e. an original, unclaimed idea) and a communicable business plan to present to your donors.
You’ll also need to understand how to structure your non-profit, what tax exemptions you may qualify for, as well as how you can obtain government grants.
Five Reasons to Incorporate Your Nonprofit Association
- Your Association Makes a Profit From Its Activities
- You can Apply for Public or Private Grant Money
- You”ll be able to Solicit Tax-Deductible Contributions
- You can have Protection From Personal Liability for the Group’s Activities
- Your Advocacy Efforts Might Provoke Legal Quarrels
Did you know?
Nonprofits can enjoy privileges not available to other organizations. But these privileges come at a price: Nonprofits must comply with special IRS rules and regulations.
File a DBA quickly and easily: Many people who decide to run a business themselves start with a sole proprietorship. If you are going to use a company name other than your legal name, you’ll need to file a DBA(“doing business as”) with the state or county in order to register your sole proprietorship.
Filing a DBA lets you:
- Legally conduct business and gain valuable rights
- Open a bank account under the business
from $99.00 (+state fees)
The most common and the simplest form of business is the sole proprietorship. In a sole proprietorship, a single individual engages in a business activity without necessity of formal organization. If the business is conducted under an assumed name (a name other than the surname of the individual), then an assumed name certificate (commonly referred to as a DBA) should be filed with the office of the county clerk in the county where a business premise is maintained. If no business premise is maintained, then an assumed name certificate should be filed in all counties where business is conducted under the assumed name.
The 3-step process was developed by Abidance legal Team of Advisors . There are no complex instructions to follow and nothing to download or print. Simply answer a few questions online and we’ll take care of the filing.
Get 501c3 tax exempt status for your nonprofit
The 501(c)(3) application is a critical next step in organizing your nonprofit after your Articles of Incorporation are filed. This IRS application is needed to gain tax-exempt status for your organization, including the ability for contributors to your nonprofit to make tax-deductible donations. LegalZoom takes the complexity out of the paperwork. Simply answer a series of questions online. Then we will complete the application and necessary schedules for you.
Standard Package starting at $499.00 (+federal filing fee)
Expedited Package starting at $795.00 (+federal filing fee)
Let’s Get Started
If your nonprofit’s income averages less than $10,000 over a 3 year period, the filing fee is $400. If your nonprofit’s income averages more than $10,000 over a 3 year period, the filing fee is $850.
501(c) (3) Benefits:
Income earned by the organization is exempt from federal income tax
Donations are tax deductible for donors
Qualification to receive private and public grants
Lower postage rates on corporate mailings
Reduced rates for radio and public service announcements in the local media
Credibility in the nonprofit community
Grants – The organization will be qualified to receive private and public grants.