LLC Info
LLC FAQs
What is an LLC?
A limited liability company (LLC) is a type of business entity you can register in your state. The main purpose of an LLC company is to limit the personal liability of its owners—like a C corporation or S corporation—but it also allows the business to operate with simpler, more flexible tax requirements.
Do I need an LLC?
An LLC isn't always required, but many small business owners choose to form an LLC for personal liability protection. Having an LLC can also help you open bank accounts, enter into contracts, hire employees, and get necessary business licenses and permits.
How to start an LLC:
To form an LLC, you'll need to file articles of organization with the state. When filing there are rules that need to be followed and our experience helps keep things moving when we file on your behalf.
How easy is it to form an LLC?
You may be a little intimidated by the idea of forming a legal entity like an LLC, especially if it's your first time. All you need is an understanding of what your business will do, how you plan to run it, and your state's LLC filing fees.
What does LLC formation mean?
When you form an LLC, you submit a specific set of business forms to the state where you wish to create a new business entity. Once it's approved, you can use this separate entity to record business expenses, take on business debts, file taxes, obtain business licenses, and more—and this is what gives you liability protection.
3 reasons for creating an LLC business entity:
1. Protect your personal assets. By forming an LLC and keeping your personal finances separate, you can protect your personal assets from business liabilities.
2. Make things easier…It's typically easier to form an LLC than a corporation, and there are simpler rules for things like record-keeping.
3. Get tax flexibility...You get to decide how you're taxed—as an LLC or a corporation—to maximize your ability to save money and minimize tax liability.
Physical Address
1633 New Garden Rd.
Greensboro, NC 27410
Saturday
10am - 3pm
Office Hours
Monday - Friday
8am - 7pm
Taylor Virtual Services is a business consultant service agency and offers complete business support from LLC Formation, Registered Agent, Virtual Office, Online Business Setup & Virtual Assistants-enabling any business to be setup and grow.
Telephone
888-383-8580
Fax
984-288-1373
LLC Formation Service
LLC Formation
When Forming an LLC in the state of NC we make the process simple and easy. Once your Client Account is created we will then submit the paperwork to the Secretary of State for the Formation of your LLC. Filing your paperwork with the State is a non refundable State filing fee of $125.00 for standard processing. Once your LLC is approved by the State we will upload all your documents to your Client Account within 21 days.
Just for creating your LLC with us we will include our Taylor New Client Welcome Package to your Business so you have a hard copy of your documents and to Thank you for choosing us to start your business.
We will create for your Business an Operating Agreement and also File for your Employer Identification Number (EIN). These 2 documents will be included with your Client Account. You can find the documents in your Online Account.
We will:
1. Help choose and reserve your business name.
It's wise to check your LLC name against similar businesses in your area. We include a business name check with our formation services and can reserve a preferred business name for you.
2.Pick a Registered Agent (RA)
An RA receives your LLC's legal notices and legal documents during normal business hours. Most states require this, and we offer this service as well.
3. File Articles of Organization
This business form contains basic details about your LLC.
4. Determine licenses or insurance needed for your business.
You'll also need to apply for any specific permits, business licenses or insurance that may be required for compliance, although it's wise to wait until your LLC formation documents are approved. Find out which licenses & permits your LLC needs in NC, we will research and find the ones that apply to your business. You can have this researched with one of our Virtual Assistant, they will research any licenses or permits needed by your business. You get an easy to follow & simple report summarizing all the local, state & federal level permits, licenses & insurance you may need. Check out our Virtual Assistant Services.
5. Prepare an operating agreement for your business
This outlines your LLC's rules for everything from business structure to profit distribution. We make it easy for LLC owners to define their rights and limit disagreements.
6. Get an Employer ID Number (EIN)
Most businesses need an EIN (also called a Federal Tax ID Number) to set up a business bank account, file taxes, and start hiring. We will complete this step for your business.
Operating Agreement
You’ll be able to access and customize your Operating Agreement, It is a flexible document and it can be changed at any time. While an operating agreement isn’t required to launch an LLC in North Carolina, it’s generally considered a good idea. It makes a stronger case for the legitimacy of your company and its separation from your individual assets. Additionally, it helps avoid disputes or confusion among the LLC owners. An Operating Agreement is a smart thing to have for both Single-Member LLCs and Multi-Member LLCs. Think of it as the “governing rules” of your LLC. This document serves to establish how your company will function, explains who owns your LLC and how your LLC will be managed. An operating agreement assigns each person a role or level of financial obligation, how taxes are paid, and how profits are split. Should other parties or investors join along the way, it’s possible to craft the operating agreement to cover future changes.
Employer Tax ID Number (EIN)/Federal Tax ID Number
A Federal Tax ID Number known as an Employer Identification Number (EIN). They are the same thing. We will file for your EIN for your business and all we need is your social security number.