What is Vesting?
Okay, so we have ABC tile and they're going to start this business together. Maybe they're brothers, maybe they're best friends of 10 years. They're super close and they trust each other through and through. And they're like, we're going to start this business 50 50, and it's going to be successful. And we're both going to get rich and we're going to live great lives. As you probably know, this is
Explain your competitor's lower price vs BetterLegal's $299
LegalZoom and others offer a lower price point in their advertising, how does BetterLegal match up? Many of our competitors offer a lower price point in their ads then allow you to choose which option is best for you. We consider this practice unnecessary as it forces customers to research what they might need for their particular use case. If you select the wrong option, you can end up waiting 6+
An EIN should be part of every package
A new EIN is a must-have for every new business, and every LLC formation service should include it standard. If you're planning on opening a bank account in the name of your new LLC, you will absolutely need a new EIN (Tax ID) for your new entity. You may already have an EIN as a sole proprietor, but if you are forming a new LLC, you need a new EIN specifically for that LLC. Many of our competitor
A LegalZoom Alternative
Comparing BetterLegal to LegalZoom apples to apples Based off of LegalZoom's pricing page, let's do the best comparison we can: https://www.legalzoom.com/business/business-formation/llc-pricing.html BetterLegal - $299 + $300 Texas Filing Fee ($599 Total) We're using Texas as our example Certificate of FormationOperating AgreementEIN (Tax ID)2 day turnaroundDocuments emailed instantlyOngoing Compl
I would prefer to obtain my EIN on my own
Can you form your EIN after we provide the rest of our services? Yes, if you feel more comfortable filing your EIN on your own, we can skip that part of the service. Simply leave the social security number blank in the form and notify us via chat that you will file this on your own. Please note that you must wait for us to get your Certificate of Formation back from the state to make sure they've
I don't need an EIN
You already have an EIN, can it be converted to your new LLC? Every new LLC needs a new EIN. The LLC you are forming is a brand new entity and requires a new EIN. Whether you have an existing DBA or other type of entity, you will still need a new EIN.
Do I need to fill out how much money I've put into my LLC into the form?
Situations exist where you may not know the amount initially invested in your LLC. This part of the form is for the Operating Agreement we generate which determines the rules of how your LLC works. The amount invested by each Member is generally for Multi-Member LLCs so there is written record of who invested what and how much percentage they own of the LLC. You may leave the amount invested as $0
Should I fill out the Single-Member or Multi-Member LLC form?
Which form is right for you? There are a few answers to this, but most of the time a sole business owner should fill out the Single-Member form. If you have more than one Member or Manager, you need to fill out the Multi-Member form. The only other reason to fill out the Multi-Member form as a sole business owner is that you are choosing not to act as your own Registered Agent.
In which State should I form my LLC?
Is one state better than another? State Fees and Turnaround Times Choosing the right state for your limited liability company (LLC) is an important decision for you to make, and you should carefully consider your options. By default, you should generally plan to form your LLC in the state where you live and do business. This is particularly true if your LLC will have an office or storefront in you
Can I form a 501c3 Non-Profit LLC?
Can an LLC qualify for a 501c3 tax exemption determination? Yes and no. "501c3" is a tax designation granted by the IRS to qualifying non-profit entities. The most typical type of non-profit entity is a "Non-Profit Corporation," which is a specific type of entity that you can form in any state. Non-Profit Corporations can be granted 501c3 status by the IRS. The problem is that there is currently n