Posts tagged: LLC

LLC - Get Full Liability Protection From Your LLC

One of the most significant reasons to form Limited Liability Company (LLC) is to get liability protection. As a corporation provides a legal shield against their shareholders' assets, an LLC offers legal protection for the owner's or members' personal assets from business claims or debts. The risk of the LLC owner and members is generally limited to the amount of their investment. However, when your business is in a trouble such as a lawsuit, the court might go after you and your personal assets, especially if you have a single member LLC and haven't followed certain rules with your ...

Disregarded Entity Definition - What is a Disregarded Entity?

What is a disregarded entity? A disregarded entity is a business entity which is considered to be an undivided part of the owner of the entity for federal tax purposes. That is, the entity is disregarded as an entity separate from the owner. A good example of disregarded entities is a single member LLC that does not choose to be classified as a corporation for federal tax purposes. A single member limited liability company that is not classified as a corporation automatically defaults to a disregarded entity, and file federal income tax return as a sole proprietorship. How does IRS treat ...

Statement of Information - California LLC

What is "Statement of Information" in regard to LLC? The Statement of Information is a public disclosure of corporation information that includes the business and mailing address of the LLC, the name and address of its CEO and managers, the name and address of the agent for service of process, and the general type of the business that establishes the principal business activity. A new limited liability company must file an initial Statement of Information with the California Secretary of State within 90 days of filing the Articles of Organization. The LLC must file a Statement of Information biennially thereafter for the ...

Annual Review Board Scam – California LLC

The letter from the Annual Review Board requiring payment of $228 is one of the newest California Limited Liability Company scam letters. Targeting small business owners who set up an LLC on their own, this scam letter looks very legitimate at the first glance. Also, its due date is very soon, which may confuse people and cause them to make hasty decision without being suspicious. It asks for over $200 for the filing of LLC's Statement of Information on the business owner's behalf. Notice its filing address is Los Angeles, not Sacramento. Business owners should read any letters very ...

How to Name Your Business

- Make it informative and meaningful. It's easier to remember when your business name reminds customers of your goods or services. Make it meaningful and easy to remember. Some experts vote for abstract names, but it will take more efforts to do efficient and creative marketing for it. Yet, when the business marketing is successful, the name will be more unique, hence it will leave a strong impression to people. - Consider to make it reflect your brand. - Consider names that reflect values, quality of products and services that your business provides. For example, Hearty Vitamin Shop sounds more ...