Thank you so much for your kind words! We're thrilled to hear that you found our video helpful. Your support and positive feedback mean a lot to us. If you have any more questions or if there are specific topics you'd like us to cover in the future, please don't hesitate to let us know. We're here to provide valuable information and assist our viewers to the best of our abilities. Thanks again for watching, and we hope to continue delivering content that you find useful!
This is great information. What would you say to someone that created an LLC in Delaware last year (watched the wrong videos obviously) and now want to move it to California. Can I move it by changing the Registered Agent? I used a company that has a Registered Agent in every state, so I don't think that would be too hard. More info: The purpose of the LLC is to hold patents. In 2022 it had zero income, the very small expenses. Only about $50 per month for web hosting. This year 2023 it will have about $3,000 in income and more expenses which will roughly balance out. The expenses are things like filing patents to USPTO, web hosting, etc. all obvious business expenses.
Moving an LLC from one state to another is known as "domesticating" the LLC. The process typically involves the following steps: 1. Research California's LLC requirements: You'll need to familiarize yourself with California's laws and regulations regarding LLCs to ensure that the entity can be domesticated there. 2. Register as a foreign LLC in California: Before you can domestic the LLC in California, you must first register it as a foreign LLC with the California Secretary of State. This registration allows your Delaware LLC to operate in California legally until the domestication process is completed. 3. Amend the operating agreement: Your LLC's operating agreement should be updated to reflect the new location and any changes that may occur due to the move. 4. File Articles of Domestication: You will need to file Articles of Domestication with the California Secretary of State. These documents indicate your LLC's intention to move its state of registration to California. 5. Pay required fees: There will likely be fees associated with domesticating your LLC in California, and you must ensure these are paid in a timely manner. 6. Change Registered Agent: As you mentioned, you can change the Registered Agent to a company that operates in California. The Registered Agent must have a physical address in California and be willing to accept legal documents and notices on behalf of the LLC. 7. Comply with tax and regulatory requirements: Be aware of any tax implications and compliance requirements associated with moving the LLC to California. This may include state-specific business licenses, permits, and tax filings.
Regarding the LLC's financial situation, it appears that it had minimal income and expenses in the previous year and is projected to have a modest increase in income and expenses this year. It's crucial to maintain accurate financial records and ensure that all business expenses are legitimate and properly documented. Remember, this information is not legal advice and should not be considered as such. The laws governing LLCs and business entities can be complex and vary from state to state. I hope you got enough information to help you, and if you want more detailed help, feel free to book a free consultation: bit.ly/3UvrM7i
@@Pankaj-Raval Thanks, I actually had a consultation on Friday. I have a Brex credit card used for all "business expenses". Everything on that card is obviously business in nature. Occasionally I use the wrong card (like when I used a personal card to pay for a notary for a patent office document), in that case since I used the wrong card I just considered it a "lost expense" and won't bother including it in my business expenses, since I used the wrong card.
It's essential to distinguish between personal and business expenses, especially if you are using a credit card for both purposes. If you are using a Brex credit card solely for business expenses, then it's crucial to ensure that all charges on that card are legitimate business expenses. If you accidentally use a personal card for a business expense, it's not uncommon to consider it a "lost expense" as you mentioned in your comment. However, if the expense is genuinely a business expense, you should still attempt to track and record it as such in your business records, regardless of the payment method.
I must emphasize the following: This response should not be considered as legal advice tailored to your specific situation. For personal advice again, I recommend booking a consultation call.
Hey pankaj thanks for giving us such a informative video! I also had a question do i as a foreigner non resident who wants to open llc in US in texas have to pay taxes on providing graphic designing services?
If you, as a foreign non-resident, open an LLC in Texas to provide graphic designing services, you may be subject to various tax implications. The United States taxes individuals and entities based on their income and activities within the country. As a foreign owner of a U.S. LLC, you'll need to consider federal, state, and local tax laws that may apply to your business activities in Texas.
It's crucial to understand that tax laws can be complex, and your specific tax liability will depend on factors like the type of income you earn, the tax treaty between your country and the U.S., and any other relevant tax regulations.
Incfile and LegalZoom are both reputable companies that offer LLC formation services in the United States. They can help with the paperwork and filings required to set up an LLC. However, the choice between Incfile and LegalZoom will depend on your specific needs, budget, and preferences. You may want to consider factors like pricing, customer reviews, additional services offered, and the level of customer support provided. It's a good idea to research both companies, read reviews, and compare their services to determine which one aligns better with your requirements. Remember that while these services can assist with the formation process, they are not law firms, and they cannot provide legal advice. If you have complex legal questions or concerns, it's best to consult with an attorney to ensure all legal aspects are appropriately addressed, and you can get a free consultation call here as well: bit.ly/3UvrM7i
That is right! However, it's important to note that the specific responsibilities of a registered agent can vary from state to state and country to country. Some jurisdictions may require the registered agent to handle the filing of the statement of information, while others may place that responsibility directly on the business entity or its officers.
Hello, please tell me, I want to create a corporate mail, but I registered LLC for my personal one, do I need to make any changes to the documentation?
Hello, To create a corporate email for your LLC, you typically don't need to make changes to your LLC's documentation. Your LLC is a separate legal entity from your personal email, so you can create corporate emails associated with your LLC's domain (e.g., yourname@yourllc.com) without altering your LLC's formation documents. However, it's essential to ensure that your LLC is in good standing and has a registered domain name that you can use for your corporate email. You may also want to update your LLC's contact information with your domain registrar to reflect your business address.
I must emphasize the following: This response should not be considered as legal advice tailored to your specific situation. For personal advice, consider booking a free consultation: bit.ly/3UvrM7i
Need help starting your LLC the right way? Please visit bit.ly/3UvrM7i and book a free consultation.
Ty! Love how clear you are with your recommendations!
Glad it was helpful!
This was super helpful! :)
Thank you so much for your kind words! We're thrilled to hear that you found our video helpful. Your support and positive feedback mean a lot to us. If you have any more questions or if there are specific topics you'd like us to cover in the future, please don't hesitate to let us know. We're here to provide valuable information and assist our viewers to the best of our abilities. Thanks again for watching, and we hope to continue delivering content that you find useful!
This is great information. What would you say to someone that created an LLC in Delaware last year (watched the wrong videos obviously) and now want to move it to California. Can I move it by changing the Registered Agent? I used a company that has a Registered Agent in every state, so I don't think that would be too hard.
More info: The purpose of the LLC is to hold patents. In 2022 it had zero income, the very small expenses. Only about $50 per month for web hosting. This year 2023 it will have about $3,000 in income and more expenses which will roughly balance out. The expenses are things like filing patents to USPTO, web hosting, etc. all obvious business expenses.
Moving an LLC from one state to another is known as "domesticating" the LLC. The process typically involves the following steps:
1. Research California's LLC requirements: You'll need to familiarize yourself with California's laws and regulations regarding LLCs to ensure that the entity can be domesticated there.
2. Register as a foreign LLC in California: Before you can domestic the LLC in California, you must first register it as a foreign LLC with the California Secretary of State. This registration allows your Delaware LLC to operate in California legally until the domestication process is completed.
3. Amend the operating agreement: Your LLC's operating agreement should be updated to reflect the new location and any changes that may occur due to the move.
4. File Articles of Domestication: You will need to file Articles of Domestication with the California Secretary of State. These documents indicate your LLC's intention to move its state of registration to California.
5. Pay required fees: There will likely be fees associated with domesticating your LLC in California, and you must ensure these are paid in a timely manner.
6. Change Registered Agent: As you mentioned, you can change the Registered Agent to a company that operates in California. The Registered Agent must have a physical address in California and be willing to accept legal documents and notices on behalf of the LLC.
7. Comply with tax and regulatory requirements: Be aware of any tax implications and compliance requirements associated with moving the LLC to California. This may include state-specific business licenses, permits, and tax filings.
Regarding the LLC's financial situation, it appears that it had minimal income and expenses in the previous year and is projected to have a modest increase in income and expenses this year. It's crucial to maintain accurate financial records and ensure that all business expenses are legitimate and properly documented.
Remember, this information is not legal advice and should not be considered as such. The laws governing LLCs and business entities can be complex and vary from state to state.
I hope you got enough information to help you, and if you want more detailed help, feel free to book a free consultation: bit.ly/3UvrM7i
@@Pankaj-Raval Thanks, I actually had a consultation on Friday.
I have a Brex credit card used for all "business expenses". Everything on that card is obviously business in nature. Occasionally I use the wrong card (like when I used a personal card to pay for a notary for a patent office document), in that case since I used the wrong card I just considered it a "lost expense" and won't bother including it in my business expenses, since I used the wrong card.
It's essential to distinguish between personal and business expenses, especially if you are using a credit card for both purposes. If you are using a Brex credit card solely for business expenses, then it's crucial to ensure that all charges on that card are legitimate business expenses.
If you accidentally use a personal card for a business expense, it's not uncommon to consider it a "lost expense" as you mentioned in your comment. However, if the expense is genuinely a business expense, you should still attempt to track and record it as such in your business records, regardless of the payment method.
I must emphasize the following: This response should not be considered as legal advice tailored to your specific situation. For personal advice again, I recommend booking a consultation call.
Hey pankaj thanks for giving us such a informative video! I also had a question do i as a foreigner non resident who wants to open llc in US in texas have to pay taxes on providing graphic designing services?
Also is incfiles or legalzoom good for opening LLC?
I have studied and saw that US have a tax treaty with my country similar to the tax treaty of Canada or neatherlands
If you, as a foreign non-resident, open an LLC in Texas to provide graphic designing services, you may be subject to various tax implications. The United States taxes individuals and entities based on their income and activities within the country. As a foreign owner of a U.S. LLC, you'll need to consider federal, state, and local tax laws that may apply to your business activities in Texas.
It's crucial to understand that tax laws can be complex, and your specific tax liability will depend on factors like the type of income you earn, the tax treaty between your country and the U.S., and any other relevant tax regulations.
Incfile and LegalZoom are both reputable companies that offer LLC formation services in the United States. They can help with the paperwork and filings required to set up an LLC. However, the choice between Incfile and LegalZoom will depend on your specific needs, budget, and preferences.
You may want to consider factors like pricing, customer reviews, additional services offered, and the level of customer support provided. It's a good idea to research both companies, read reviews, and compare their services to determine which one aligns better with your requirements.
Remember that while these services can assist with the formation process, they are not law firms, and they cannot provide legal advice. If you have complex legal questions or concerns, it's best to consult with an attorney to ensure all legal aspects are appropriately addressed, and you can get a free consultation call here as well: bit.ly/3UvrM7i
Doesn’t a registered agent file the statement of information?
That is right!
However, it's important to note that the specific responsibilities of a registered agent can vary from state to state and country to country. Some jurisdictions may require the registered agent to handle the filing of the statement of information, while others may place that responsibility directly on the business entity or its officers.
Not always. I would make sure they are handling that for you.
Hello, please tell me, I want to create a corporate mail, but I registered LLC for my personal one, do I need to make any changes to the documentation?
Hello, To create a corporate email for your LLC, you typically don't need to make changes to your LLC's documentation. Your LLC is a separate legal entity from your personal email, so you can create corporate emails associated with your LLC's domain (e.g., yourname@yourllc.com) without altering your LLC's formation documents.
However, it's essential to ensure that your LLC is in good standing and has a registered domain name that you can use for your corporate email. You may also want to update your LLC's contact information with your domain registrar to reflect your business address.
I must emphasize the following: This response should not be considered as legal advice tailored to your specific situation. For personal advice, consider booking a free consultation: bit.ly/3UvrM7i
@@Pankaj-Raval Thank you very much, you helped me a lot