LLC Registration

rvdebbyrvdebby Posts: 11subscriber
edited December 2006 in Business Planning
I am opening a new business that will begin with online sales, and catalog sales that will be seeking a market nationwide.
I have family and friends in Washington State and will be targeting that area for onsite retail transactions. My start up market will be primarily in Virginia where my current job has given me the most contacts that will be easy to convert to customers. Because of this I have decided to postpone my relocation plans (for Washington).
I have a good client base in North Carolina--not as good as Virginia.
Reading the documents and forms that come from Virginia, it seems to me that you must have a registared agent in the state to form your LLC there. Looked over North Carolina and found the same. It is $25 more to registar in NC.
My current job has taught me that VA has more rules and regulations than other states I have worked in. Has anyone researched the different states and advantages of having your business office (your attorney) in the different location.
I had an offer for sales rep position in Virginia and was told that they were based in Arkansas for this very reason. That and overhead for the corporate office was quite a bit lower there too. Have also heard that Delaware was a good state for base operations
Also, has anyone used the services of incitnow.com or other business of that nature? What were your results?

Comments

  • rvdebbyrvdebby Posts: 11subscriber
    THANK YOU!!! XOXOXO
    That was exactly what I was looking for and confirmed my suspitions.
    I will be filing in Delaware today   
    Or maybe not...need to locate a registering agent. They all seem basically the same-- Guess I will need to make sure that mail forwarding is a part of the package. So many things to consider  YIKES!!
    Virginia has a corporate annual income tax.rvdebby2006-12-5 12:33:8
  • rvdebbyrvdebby Posts: 11subscriber
     
    New question...I have been talking to my business owner friends to see if they are LLC, where, and who is their registered agent.
    Most of them say that their lawyers or CPA`s did all of that for them. Some say no, they are incorporated, LLC--Limited Libility Corporation?? So you would not be incorporated using this business style?
  • rvdebbyrvdebby Posts: 11subscriber
    Alrighty then... Seems like this topic has turned into a private journal. I admit I am lazy and do prefer to have y`all answer my questions--but am also impatient so went looking on my own.
    LLC is limited, you are protected somewhat. You are still connected to the business, but the business is running the show. It owns the delivery van, it pays your salary. It can be in another state than where you are operating. Deleware and Nevada are good ones that welcome business. I was told that if I was just looking to save money that it wasn`t worth it--what else might I be looking for? This is one of those areas that I don`t know what I am not asking.
    Corporations completely stand alone. You`re personal assets are seperate and safe from things that happen in your business.
    So why doesn`t everybody incorporate?
    Can I open as a sole proprietor and incorporate at a later date? Does this differ state to state? 
    I am going on a working vacation and will have rough but servicable catalogs with me--what do I do if I make sales while visiting another state (Washington).
    Is there a site where you can find most of the rules of commerce?rvdebby2006-12-9 9:36:2
  • LidstromLidstrom Posts: 1subscriber
    The most obvious reason, to me, that someone might not incorporate is because of the "double taxation" that would occur (unless you were an S-corporation). An LLC also has less administrative demands compared to a corporation. If you aren`t making sure that the corporation is taking care of the administrative requirements of all corporations, it might suddenly cease to exist when under scrutiny from someone like the IRS and all the advantages you thought you had by incorporating would suddenly be gone.I still have more to learn, for sure, and am certainly no expert, but in a nutshell I thought an LLC was a way to gain the liability protection of a corporation without the administrative burdens. There are other benefits that can be gained from incorporation vs being an LLC that may or may not apply. I looked at a book once, that I plan to get soon, that may help shed some additional light on this choice for you: _LLC or Corporation?: How To Choose The Right Form For Your Business_ by Anthony Mancuso (published by Nolo).
  • rajinenterprisesrajinenterprises Posts: 3subscriber
    Hello,
    New here and posing alot of the same questions. Glad to see I`m not the only one here searching for these answers. Thanks for bringing it up here.
  • rvdebbyrvdebby Posts: 11subscriber
    What is an S-Corporation?
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