Name Reservation Certificate

MeitziMeitzi subscriber Posts: 4
edited July 2006 in Business Planning
Help! Help!
I reserved the company name with Secretary of State but will be expired on August 10th.  Does anyone know how to renew the reservation?
At what stage do you file for LLC?  If I read correctly, once I register I will have to pay a minimum of $800 tax.  For that reason I thought I should wait. 
Am I doing this right???

Comments

  • NuevolutionNuevolution subscriber Posts: 30 Bronze Level Member
    What state did you Reserve the name? From the looks of it you are in California. Am I correct? Here is what you probably forgot to read, once you incorporate you have 90 days in the state of California to pay your 800.00 Dollars. At what stage? well, if you reserved it, you had 180 days right? anytime would have been the right time. You shouldn`t had waited that long though.
  • MeitziMeitzi subscriber Posts: 4
    Yes, I am in California.
    My apology for the confusion.  I am at an early stage on developing my business.  The `grand opening` of the business is scheduled next summer (July 2007).  I thought if I register the company now and have to `donate` 800 bucks to the government; is it better to register it toward the end of the year instead? 
    To reserve the name cost 10 bucks only but it only last for 60 days.  It stated on the certificate that I can renew but I can`t find any forms for renewal.  I tried to call them but hung up after being on hold for so llllllong!
    What I am asking is that do people register their company as soon as they come up with a name / business plan / idea?
    I think I just confused myself ...
  • NuevolutionNuevolution subscriber Posts: 30 Bronze Level Member
    I knew you where in California because of the Incorporation fees.. $800.00 a year. Ouch!!! as to nevada $250.00.
    Well, it all depends, lets see, if you incorporate now in July, lets say August.  if you have 90 days to pay it, it would be October by then. So it`s already end of year.. You wouldn`t be donation to the Government, it`s not a donation, it is a required fee in order for you to have a Corporation. A donation is when you give something for nothing. Most people don`t register a company with the state as soon as they come up with the name. It is good only so someone else doesn`t take your name of choice. Most people wait till they are profitable before they file, others do it right from the begining, they Incorporate and separate their personal credit from their business credit.
  • MeitziMeitzi subscriber Posts: 4
    Thank you so much for the input!!
  • diazepamdiazepam subscriber Posts: 0
    Hello,

    I use this service for California http://www.corporate.com
    It has a cost but you do not need to worry about anything else and if you have
    any questions, there is a number you can call to.

    I have
    incorporated S corp, LLC, etc.  In my experience I incorporated
    right from the begining.  The reason for doing this is simple, you
    want to setup your business account, credit, name, and again in my case
    copyrights to be ready _before_ you need them.  You have a
    potential problem of loosing a customer if you are not ready.  But
    this is a personal/business decision you will have to make.  heh
    besides Nevada you have the option of Delaware
    however I would recommend you to incorporate where your business is
    located.  Later on you can review this and pick one of those tax
    friendly states

    Good luck!
  • NuevolutionNuevolution subscriber Posts: 30 Bronze Level Member
    Meitzi,
    So what are your plan? are you going to incorporate? I used the same company as Diazepam, to incorporate my business. You can try out their basic package. which costs about 258.00 or so. You have 90 days to pay the 800.00 though.. so why not get it out of the way now?
  • MeitziMeitzi subscriber Posts: 4
    I noted the website, thank you for the information.
    I will be in the restaurant biz so I guess it would be okay to wait.   
    Any pros and cons on when to incorporate???
  • diazepamdiazepam subscriber Posts: 0
    Meitzi,

    Any pros and cons on when to incorporate???

    Look at your tax returns, I would say that is the only thing that matters
    about when you want to file your corporation.  Again this is a personal/
    business decision other than that anytime is ok

    You could talk to your CPA or just read some more, check this page:
    http://www.corporate.com/shouldIIncorporate.jsp



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