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Hey everyone, welcome back to Strike First Finance! Today’s video is actually a follow-up video to a tutorial I made earlier this year which was “How to become a sole proprietor”. Hopefully, you guys have been tracking your expenses and claiming your DBAs because at this point you’ve probably outgrown yourself, gotten a few retainer clients, and are ready to pursue your very first…LLC.
Now for those of you who don’t know, an LLC (limited liability company) is a type of business structure that helps protect external players from acquiring your personal assets in the event your company gets sued, bankrupted, or dissolved.
For example, if you were a sole proprietor and someone started a lawsuit with your company, there would be nothing that would stop that entity from targeting your company’s assets, your personal bank accounts, and almost anything else you own!
Here is the link to the database to check your LLC’s availability!
Here is the link to the Trademark Database:
When I secured my business name, I used Zen Business’s starter plan which costs $40 a year. They did all of the following:
– Secure a business name
– Appoint me a registered agent
– Sent me a template for an operating agreement.
– Filed the Certificate of formation for my company’s LLC.
I actually decided to create my EIN number for free on the IRS website, just to save a few extra bucks.
The Articles of organization LLC Texas is a document you are required to file if you want to form a limited liability company (LLC) in Texas. Similar to articles of incorporation, articles of organization provide the basic information needed to register your company with the Texas secretary of state. There are several other names for this document, depending on which state you’re in.
In this document you have to establish the following:
Article 1: Entity Name and Type
Article 2: Confirm your registered agent. (Form 401-1, $15 filing fee)
A registered agent is required for every LLC in America. Essentially your registered agent is just someone who receives and manages mail on behalf of your company. Some notable things about your Registered agent you should know about:
The agent must have a physical street address within the state
The agent must be available at that address during normal business hours.
The agent can be an individual who is at least 18 years old, or it can be a company that provides registered agent services.
Zenbusiness’ 1st Tier plan for LLC’s includes a registered agent to act on behalf of your company. Anytime you get new mail it’ll be sent to their office and you will be notified
Article 3: Governing Authority
You are also required to list the names and addresses of people who will be making business decisions in your LLC, which can be the members or managers. At least one member or manager must be listed, but the person does not have to be a resident of Texas.
Article 4: Purpose
The purpose of your LLC must also be stated in your articles of organization. It depends on the type of business you will be operating. For instance, if you are starting a for-profit business, you can say the purpose of your LLC is to do business lawfully in Texas. A professional or nonprofit organization, on the other hand, should provide a convincing business statement that can help it obtain a grant or favorable tax status.
Congratulations! You have learned everything you needed to get your LLC filed. Now there is a manual way to send your certificate of formation to your secretary of state, but that process is a little lengthy and I didn’t file my LLC this way. Instead, I used Zenbusiness.com to file my LLC. For
$339, all of this was processed and completed within 3 weeks! I highly recommend their “Starter Plan” Tier to help launch your first LLC.
Comment below if you have any questions about the process! I’m always looking to help those in need!
Operating Agreement Template: https://freedownloads.net/download/multi-member-llc-operating-agreement.pdf