MyCorporation has helped thousands of entrepreneurs form their own limited liability companies and corporations, and we've noticed that when everything is filed and finished, one of the most common questions we are asked is 'so now what?' Maintenance and filings don't end after your formation, but the process of getting your new entity compliant and ready for business can be broken down into five simple steps.
Step 1:
Get an Employer Identification Number. You are going to need one to hire employees or open up a bank account for your business.
Step 2:
Begin working to protect your brand. File for trademark protection and don't forget to buy a domain name as soon as possible.
Step 3:
Find out what business licenses are required by your state or city. Business licensing varies depending on entity type, location, and industry, so be sure to consult with a professional who can help you pin down exactly what you need.
Step 4:
Stay on top of your annual maintenance. Most states require that corporations and LLCs File an annual report, which will discloses basic information like your business's name, its address, and its registered agent. You also need to document any changes in the corporation or LLC - for example, if you brought on new owners or investors. Make sure that you also update your operating agreement or bylaws too as new partners, members, and investors will usually want a say in how the company is run.
Step 5:
If you plan to expand your business outside of its home state, remember that no matter where you go, you are always going to have to apply for permission to do business there. If you don't, you could be facing some hefty fines, so remember to file to qualify as a foreign entity in any state you want to do business in.
Here at MyCorporation, we're happy to help you with any and all of the above steps, so you can focus on what is important - running your business. Just call our specialist representatives at 1-877-692-6772 and we will help ensure your LLC or Corporation is compliant, maintained, and ready for business.
