BetterLegal

What's Included With Your LLC When You Use BetterLegal

Certificate of Formation

The Certificate of Formation of a limited liability company (LLC) is a document filed with the Secretary of State to formally establish your business as a separate legal entity. It identifies your company’s name, managers, and registered agents. The Certificate of Formation also provides a mailing address for receiving important correspondence from the state and other individuals and entities.

Operating Agreement

While an LLC is legally established by filing a Certificate of Formation, it’s important that you have a thorough Operating Agreement that will govern your LLC’s business. Among other things, an Operating Agreement:

  • Identifies the members (owners) of the LLC and their respective ownership percentages
  • Identifies the managers of the LLC and their management rights
  • Establishes procedures for meetings and the admission/removal of members and managers
  • Outlines the distribution of profits to members

Employer Identification Number (Tax ID)

An Employer Identification Number (EIN/Tax ID) is provided by the Internal Revenue Service. In order to establish a bank account for your business, your bank may require that you provide an EIN. Your LLC’s EIN is also required if you have employees or plan to hire them in the future.

Banking Resolution and Other Helpful Docs

As an added bonus, BetterLegal provides you with several optional forms that you may choose to use while running your business. These include:

  • Banking Resolution to specify who can open bank accounts and deposit or withdraw funds
  • Officer Designation to appoint the officers of your LLC
  • Ownership Amendment Form to add members or change ownership percentages
  • Meeting Minutes Template to document important votes of the managers or members
  • S-Corporation Tax Election if you want to be taxed as an S-Corp (ask your CPA)

What's Included With Your Corporation When You Use BetterLegal

Articles of Incorporation

Articles of Incorporation are filed with the Secretary of State to formally establish your corporation as a separate legal entity. It identifies your company’s name, directors, and registered agent. The Articles of Incorporation also provide a mailing address for receiving important correspondence from the state and other individuals and entities.

Bylaws

While a corporation is legally established by filing Articles of Incorporation, it’s important that you have thorough Bylaws that will govern your corporation’s business. Among other things, Bylaws:

  • Explain how directors are elected and stock is issued
  • Identify how the corporation is managed by officers and directors
  • Establish procedures for meetings and the issuance of stock to shareholders

Employer Identification Number (Tax ID)

An Employer Identification Number (EIN/Tax ID) is provided by the Internal Revenue Service. In order to establish a bank account for your business, your bank may require that you provide an EIN. Your corporation’s EIN is also required if you have employees or plan to hire them in the future.

Banking Resolution and Other Helpful Docs

As an added bonus, BetterLegal provides you with several optional forms that you may choose to use while running your business. These include:

  • Banking Resolution to specify who can open bank accounts and deposit or withdraw funds
  • Officer Designation to appoint the officers of your corporation
  • Stock Ledger for listing your initial stockholders and their respective shares
  • Meeting Minutes Template to document important votes of the directors or shareholders
  • S-Corporation Tax Election if you want to be taxed as an S-Corp (ask your CPA)
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