Facts About Setting Up Or Dissolving An LLC In California

When someone is ready to set up their first business they will need to decide what type of business structure they want. One of the most common in the state of California is to establish an LLC which is a limited liability company. This means that one or more people own the business and the profits will go to the different members so that the business does not have to file its own individual tax return like corporations would typically do. Here we’ll take a look at the facts about setting up or dissolving an LLC in California.

Why Would I Want To Set Up An LLC?

Setting up this type of business structure allows you to separate your business activities from your personal assets. This allows you to greatly reduce the liability you are exposed to as an owner. The process of setting up an LLC in California is fairly straightforward but none the less, there are quite a few steps that you need to take and for that reason, many choose to use a service to help them with the process.

Ten Steps To Setting Up Your LLC In California

1. Unique Company Name

You’ll be required to have a company name that is unique to your business and that hasn’t already been registered with the state of California. You can use the state’s website to see if the name you want is available. If you’re in Sacramento we can even help you reserve a name if you plan on starting the company later on.

2. Get An Organizer To Set Up Your LLC

The organizer is the individual or company that puts together the draft for your LLC. If you go with us then we will be your organizer. As such we’ll put everything together that is needed.

3. Registered Agent Designation

The law requires that you have a registered agent designated and it will be a corporation or an individual. This is a requirement stipulated by the Articles Of Organization form.

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4. Establish The Management And Ownership Structure Of Your LLC

In California, you’ll be asked whether or not your LLC will have multiple managers, a single manager, or if the business will be managed by all members of the LLC. This means that you have to decide exactly how it will be structured. We can help with that decision if it is needed.

5. Set Up Your Operating Agreement

When you establish your business in California you’ll have to determine how it will be governed and how the pay, capital, and profits will be distributed. Other factors that have to be considered are fiduciary constraints, voting, and liability.

6. Complete The Filing For The Articles Of Organization

This state requires that you file articles of organization which give all the details of the company. The California Secretary of State will need to give its acceptance and then from that moment the company is formed.

7. Get Your EIN And Establish A Business Account With Your Bank

You will need to have an EIN number in order to have a business account with your bank. You will also need it to file taxes regardless of whether the company has one employee or more than one.

8. California Taxes

The state will require $800 as a minimum annual tax. This will need to be paid every year including the first year. This is not related to income or other taxation but is simply a fee to do business in the state.

9. Get Any Permits Or Licenses That May Be Required

You will typically need one or more permits or licenses to operate in a particular county or city where you have your business. If you fail to get the required licenses or permits you could face very expensive fines.

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10. You Have 90 Days To File Your Statement Of Information

When you form your LLC you will need to file your SI or Annual Report within a maximum of 90 days. After the first filing, you will then need to file every two years. This allows this state to stay up-to-date about any information related to your business.

How To Dissolve Your LLC In California

There are three different methods California allows when dissolving your LLC. You can speak with us about helping you to choose and process the one that is appropriate for your situation. If you are the sole owner or if all owners agreed to the dissolution then you will only need to file one certificate of cancellation with the state.

After getting the Certificate of Dissolution you will fill out the needed information along with signing it and dating it. Indicate why you are dissolving the company and whether or not all members are in agreement. Provide the necessary information regarding assets and debts and then file it with the state.

How California Corporation Expedited Filing Service Can Help

Our company helps those in and around Sacramento with expedited services in the state. We can help you in putting together all the necessary documents you will need to file as well as helping you with having all the necessary copies. We provide the service of issuing State checks that are required and even in-person submissions of your documents in Sacramento.

When’s the Secretary of State processes your documents we can pick them up for you. We can get certified copies of those filings. We can also make sure you get certified copies and a receipt of payment through regular mail.

We can help you file your Articles of Organization with the state and it can all be expedited. We even provide 24-hour rush services for LLCs. We have several options for those who need different documents related to their business processed quickly. The prices of these options vary and will depend on the type of document you need.

Our same day filing service cost a little more but allows you to submit your documents without having to check them prior to when you’re about to submit them. To take full advantage of this service in Sacramento will mean that you have to get the documents to us by 9:30 am. Call or come in today to see how we can help.

Order:  CA SOS Expedited LLC Filing Service

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