What we do?
We can form your Corporation or LLC the very same day with a feature rich package for much less than you would normally pay. We have formed thousands of entities for clients from all over the world in the last 20 years!
If you choose a special and order before the deadline, your entity's formation date should be same day. Formation confirmation documents will be sent out by email same day. Same day formation order deadline vary, please check the state of your choice.
Our Same Day formation package includes all the features that you need and nothing that you don't need.
1. SAME DAY FORMATION: RECEIVE FORMATION DOCUMENTS BY EMAIL SAME DAY.
If you order before 1 PM Eastern Time any day during this promotion, your entity should be formed same day barring any issues from Virginia Corporation Commission. The formation confirmation documents (Charter and the Articles) will be sent by email same business day.
Please note that Virginia Corporation Commission may delay formation due to reasons beyond our control.
2. STATE REGISTRATION FEES ARE INCLUDED
The price includes Virginia Corporation Commission fees to register the entity. Therefore, it includes: State Articles of Incorporation/ Organization filing fee to form the entity. On top of that it also includes other features as listed.
3. INSTANT FEDERAL TAX ID (EIN)
There is no fee to be paid to obtain the Tax ID (EIN) from the IRS. We will provide you the guidelines to obtain it direct from the IRS instatnly (you do not need to send us your SSN, just submit it to the IRS to obtain the Tax ID).
4. AFTER WE RECEIVE YOUR ORDER
We will complete name availability search and prepare the Articles to submit to Virginia Sec of State to register the entity. Note that we may need to email the Articles to you to sign, scan and send back to us. In that case, we must receive the form by 1PM ET.
Upon state approval, the entity should show on state website same business day.
5. AFTER YOUR ENTITY IS FORMED
Barring any issues from Virginia Corporation Commission the entity should be formed same day. The copy of the Articles should be emailed to you same day evening.
6. REQUIREMENTS AFTER A CORPORATION IS FORMED
After a corporation is formed, an organization meeting must be held for the purpose of adopting the by-laws, electing directors and transacting any other business. We will provide you the initial meeting minutes and the sample ByLaws.
Corporations are required to keep correct and complete books and records of accounts and must keep minutes of the proceedings of its shareholders, board of directors. We will provide the sample meeting minutes to do so.A corporation must also keep a record containing the names and addresses of all shareholders, the number of shares (and class of shares - if any) held by each shareholder and the dates when they respectively became the owners of record thereof. We will provide stock ledger to do so.
In addition, a meeting of shareholders must be held annually for the election of directors and the transaction of other business on a date fixed by the board of directors. We will provide you the sample meeting minutes for annual meeting.
Please note that the by-laws, corporate books and records are not required to be filed with the Virginia Corporation Commission.These are internal documents maintained by the corporation.
7. IMPORTANT: ANNUAL REPORT FILING
All Virginia Profit Corporations must file an Annual Report yearly to maintain "active" status.
The first report is due in the year following the year of formation. The report must be filed electronically online between January 1st and May 1st.
State fee for the annual report is $150 for corporations and $138.75 for LLCs. After May 1st a $400 late fee is added to the annual report filing fee.
We can do this filing for you as well. Annual Report Reminder Notices are sent to the e-mail address you provide us. Since emails are unreliable, we recommend that you set an alert to remind you to complete annual filing or to contact us to so for you.
1) THE NUMBER ONE REASON:
An LLC has a major advantage: LLC laws donot allow a lawsuit to be filed against a member of the LLC for the liabilities of the LLC. Whereas the main officers of a corporation are routinely named as defendants in a lawsuit filed against the corporation. Therefore, the member's personal assets are safe unless he/she personally guarantees a debt.
2) 'PASS THROUGH' OF PROFIT AND LOSS:
All the profits and losses of the LLC are taxed on the member's personal income tax returns. Meaning if you are a single member of an LLC, you will report the profit or loss of your LLC in your form 1040. As such, an LLC offers the benefits of a regular Corporation without separate taxation. As with a partnership or a Sub-S corporation an LLC is a Tax Pass through entity.
What this means is: LLCs by default do not pay taxes. All income and losses pass-through to you as a member. So if you have losses in your LLC you can claim it against your personal income on your individual 1040. It is great for a start up business.
3) ABILITY TO EASILY CHANGE TO ANOTHER FORM OF ENTITY:
It's easy to change your LLC to another form of legal entity. For example, you can change it to a C-Corporation. If you are starting a company, it may be beneficial to start a company as an LLC and write off the initial losses from your personal income and change to a C-Corp when the company becomes profitable.
4) FLEXIBILITY WHILE ALLOCATING PROFITS OR LOSS:
This is a major benefit of an LLC. Unlike a Subchapter S Corporation where you are restricted as to how profit and loss are distributed among the owners and the type of losses you can pass-through to the owners, the members of an LLC can allocate ownership, profits and loss among the members anyway they like. In case of a C-Corporation, the profits and loss of the corporation cannot be allocated among the shareholders.
5) BUSINESS ASSET PROTECTION:
LLC held assets cannot be seized by a member's creditor. Even if the creditor gets a judgment against a member, the creditor cannot get to the property owned by the LLC. The creditor has what is known as charging order remedy. Under which, if the creditor gets a judgment against a member of the LLC, the creditor is only permitted to collect any actual cash distributions that are made by the company to the member. Therefore, if no distributions are made to the member, there is nothing to collect.