Register Your Business
So, you’re ready to start your business? Let’s determine which legal entity structure is best for you. The most common forms of business are Sole Proprietorship, LLC, Partnership, Not-for-profit Corporation, and Corporation. S-Corp is a tax-selection that can be completed after a legal entity has been established. Each legal entity has legal implications, and determines how you are taxed & which income tax return form you will file. Review the details of each structure below to confirm the best option for you.
Prices do not include state fees.
State Fees can be found here.
Our $50 consultations are 30 minutes long and enable our prospective clients to understand the filing process & ask questions related to the success of their business set-up. Consultation fees are applied to final service. Schedule your consultation today.
Sole Proprietorship
Doing Business As
A sole proprietorship is the simplest & least expensive structure to choose when starting a business. It is an unincorporated business owned and run by one individual with no distinction between the business and the owner. You are entitled to all profits and are responsible for all your business’s debts, losses and liabilities.
Sole Proprietorships are recommended only if you desire to temporarily reserve a business name. Because there is no legal separation between you and your business, you can be held personally liable for the debts and obligations of the business. This is a red flag not only for you as a business owner but to potential investors who could perceive your business as high risk.
Starting Price: $200
*Includes EIN registration
LLC
Limited Liability Company
A Limited Liability Company (LLC) is the most popular business structure for start-up organizations. Filing a LLC separates your personal assets from those of your business. For example, if your business is involved in a lawsuit, the assets of the LLC itself could be in jeopardy, while the personal assets of the members/owners would be protected. Owners of a LLC may include individuals, corporations, other LLCs and foreign entities. There is no maximum number of owners.
For LLCs, profits and losses are reported directly on the owners personal tax returns, making filing taxes a much easier process. However, LLCs are not public structures and do not have shareholders, so taking a company public is not an option. However, in the event that you'd like to take your business public you may switch to a public legal structure, like a C corporation, later on. It is important to note that a few types of businesses generally cannot be LLCs, such as banks and insurance companies.
Starting Price: $250
*Includes EIN registration
LLP
Limited Liability Partnership
Limited Liability Partnerships (LLP) is similar to a Limited Liability Company; however, it is used for two or more people to own a business together with liability protection from other partners’ actions and debts. A partnership agreement will define each partner’s share of the entity, which can vary but must equal 100% total.
Partnerships can be a good choice for businesses with multiple owners, professional groups (like attorneys, accountants, doctors), and groups who want to test their business idea before forming a multi-member LLC with trusted members.
Starting Price: $300
*Includes EIN registration
NFP
or 501c3
A not-for-profit (NFP) organization is a business entity type that focuses on a particular social, charitable, educational, religious or community-focused cause. All the money earned or donated is used in pursuing its objectives and meeting operational costs. Unlike for-profit corporations (C corp), not-for-profit organizations do not distribute their surplus revenues to their owners. NFPs are required to elect a board of directors (3 or more people) to represent their interests and make strategic decisions for the company; annual meeting minutes must be recorded.
An organization must be filed as a NFP first in order to pursue 501c3 status. Not-for-profits who choose to become a 501c3 are tax exempt and allow donations to act as tax write-offs.
Starting Price: $150
*Includes EIN registration
501c3 Starting Price: +$250
*Includes EIN registration + IRS fee
*Must already have a NFP in good standing to file a 501c3
C CORP
Corporation
A Corporation (C corp) is business structure that’s owned by shareholders and is governed by bylaws that are approved by its shareholders. For many companies, the C corp can be an appealing option because it allows people to take stock in exchange for an ownership stake. Business owners who form C corps typically desire to raise capital, plan to go public (offer and IPO), or eventually get sold.
Unlike other business entities, C corps require double taxation—since C corps pay taxes at the corporate level and any dividends distributed to shareholders are also taxed. Lastly, C corps are required to elect a board of directors (3 or more people) to represent their interests and make strategic decisions for the company; annual meeting minutes must be properly recorded.
Starting Price: $300
*Includes EIN registration