Where an LLC should be formed (or registered as a foreign LLC) comes down to where it is legally transacting business. Generally speaking, most Airbnb hosts will be doing business in their home state and in the state(s) where they are arbitraging properties.
There are 7 steps to starting a business in Texas. First, determine what name you want to use for your business. Then you’ll need to select a legal entity (like an LLC or Corporation) or operate as a Sole Proprietorship or Partnership. Once you determine that, you can then register your business with the Texas Secretary of State (SOS).
There are 7 steps to starting a business in Arizona. First, determine what name you want to use for your business. Then you’ll need to select a legal entity (like an LLC or Corporation) or operate as a Sole Proprietorship or Partnership. Once you determine that, you can then register your business with the Arizona Corporation Commission (AZCC).
An LLC can be used to run one business or an LLC can have multiples business activities. One advantage of multiple businesses under one LLC is lower costs, however, a disadvantage could be increased liability exposure by all activities taking place under one “roof”.
This guide will walk you through the 7 Steps to Starting a Business in Washington State. Tips on coming up with business name, getting your website started yourself, registering your business with the Washington Secretary of State, and more! Read this guide for a simple, step-by-step process.
Creating a name for your company is the highest leverage activity you can take part in. Follow these 4 simple tips to create an excellent LLC name. Make use of alliteration and rhyming so your name “sticks” in the phonological loop, your subconscious mind + some time is a powerful force, and a few tips on finding the best domain name as well.
In order to change or convert a Sole Proprietorship into an LLC (also referred to as “incorporating a Sole Proprietorship”), you first need to form an LLC, wait for it to be approved, transfer everything over, then cancel/withdrawal your Fictitious Name/DBA.
A Certificate of Organization for an LLC (Limited Liability Company) is a document that does either one of two things, depending on the state where you are forming your LLC. In most states an LLC Certificate of Organization is a legal certificate from the Secretary of State showing that your LLC was duly formed and is recognized as a legal entity in that state. Usually in these states you file an Articles of Organization (or Certificate of Formation) and the state sends you back a Certificate of Organization.
When forming an LLC, who can be an LLC Member. An LLC Member is an owner of an LLC. This Quick List explains which type of people and which types of companies can be LLC Members. US citizens, US residents, Non-US citizens, Non-US residents, US immigrants, US foreigners, Other LLCs, Other Corporations (C-Corporations and S-Corporations), Other legal entities (besides LLCs and Corporations), Trusts, Pension Plans, and Individual Retirement Accounts (IRAs) can be LLC Members.
An LLC helps protect your personal liability, meaning, it helps protect your personal assets (bank accounts, home, vehicles, and any valuables) from your business in the event your business gets sued. Think of the LLC as creating a legal “barrier of protection” between your business and your personal life.
