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Business Incorporation Questionnaire

California Business Incorporation Questionnaire

Category:

Corporations - Foreign

State:

Multi-State

Control #:

US-Q1019

Format:

Instant download

Description

This form addresses important considerations that may effect the legal rights and obligations of the parties during the process of incorporating a business. This questionnaire enables those seeking legal help to effectively identify and prepare their issues and problems. Thorough advance preparation enhances the attorney’s case evaluation and can significantly reduce costs associated with case preparation.

This questionnaire may also be used by an attorney as an important information gathering and issue identification tool when forming an attorney-client relationship with a new client. This form helps ensure thorough case preparation and effective evaluation of a new client’s needs. It may be used by an attorney or new client to save on attorney fees related to initial interviews.

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FAQ

Every California and registered foreign limited liability company must file a Statement of Information with the California Secretary of State, within 90 days of registering with the California Secretary of State, and every two years thereafter during a specific 6-month filing period based on the original registration

After your first Statement of Information is filed, you are required to file a Statement of Information every 2 years.

Step 1: Choose a business type.Step 2: Register your LLC with the Secretary of State.Step 3: File a Statement of Information.Step 4: Apply for an EIN.Step 5: Create an Operating Agreement.Step 6: Open a bank account for your LLC.Step 7: Register with the Franchise Tax Board.Step 8: Hiring employees?More items...?

The state will approve your California LLC in 3-5 business days. Also, if you form your LLC during peak filing season (December through January), approval can take up to 6-7 business days. You can form your California LLC online or by mail.

Every LLC that is doing business or organized in California must pay an annual tax of $800. This yearly tax will be due, even if you are not conducting business, until you cancel your LLC. You have until the 15th day of the 4th month from the date you file with the SOS to pay your first-year annual tax.

Every corporation and every limited liability company is required to file a Statement of Information either every year or every two years (only in odd years or only in even years based on year of initial registration), as applicable.

The key benefit of forming a limited liability company (LLC) in California is limited liability protection. Limited liability can protect your personal assets in the event your business is sued or can't pay its debts. Other California LLC benefits include: Pass-through taxation.

According to California state law, all California corporations, nonprofits, and LLCs must file a California Statement of Information also called an annual report. These statements must be filed with the California Secretary of State each year OR every other year depending on what type of business you own.

The California Corporation Code Section § 1700-1702 requires that all corporations, LLCs and other business entities appoint and maintain a registered agent. You can't start a business without one (unless you're a sole proprietor, in which case you don't have to form an entity at all).

How long does it take to start an LLC in California? It normally takes 3-4 weeks for the state to approve the LLC paperwork, however, expedited processing is available for an additional fee.

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