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How Much Does It Cost to Incorporate in California

How Much Does It Cost to Incorporate in California

If you own a business in California that is not incorporated, you might be missing out on some major advantages.

Basically, incorporation is the act of creating a company or other corporate entity.  It is a legal process and it can be very complicated.

One area that causes much confusion for people who want to incorporate in California is the cost. As a business owner in the Golden State, it makes sense to understand the cost to incorporate in California before you begin the process.

This is something that you have to financially prepare for well in advance.

Keep in mind that if you want help with incorporating your business or even starting one, you can contact me and book a FREE strategy session today.

 

Why Incorporate in the First Place?

Before we talk about the cost to incorporate in California, let us look at the benefits it provides.

As mentioned earlier, those who do not incorporate are missing out on some great benefits.

The biggest benefit of incorporation lies in the concept of limited liability.

9 Disadvantages of Sole Proprietorship

Disadvantages of Sole Proprietorship

Some entrepreneurs dream of creating a huge company, employing hundreds.

Others would rather be a “one-person show” as a sole proprietor.

A sole proprietorship is owned and run by one individual who receives all profits. It has the benefit of being relatively easy and inexpensive to establish.

Of course, that only tells part of the story. There are several disadvantages to sole proprietorship to be aware of and guard against as well.

My name is Sam Mollaei, and as a Business Lawyers for Entrepreneurs, I can help you decide what type of business organization – including sole proprietorship – might be right for you.

And of course, if you have any questions about your unique situation, feel free to email me.

By the end of this post, you’ll know what the disadvantages of sole proprietorship are so you can make an informed decision as to whether this business structure is right for you.

 

1. Your Liability Is Unlimited

The most serious disadvantage of being a sole proprietor is unlimited exposure to liabilities and lawsuits.

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General Partner vs. Limited Partner: Pros and Cons to Consider

General Partner vs Limited Partner

If you wish to enter into a partnership with an individual or company, you need to know what, exactly, the risks, duties, or roles will be. Two common partnerships often confuse business owners and need to be defined. 

If you need to discuss forming a partnership in detail, I can assist you. I can elaborate on the advantages or drawbacks of each of the two entities. After you read the following information, contact me at sam@mollaeilaw.com. I can give you additional insight, and provide you with more details about general partner vs. limited partner relationships.

The following information will detail the differences between a general partner vs. limited partner formation.

 

What Is a General Partnership?

A general partnership is considered the most common partnership entity. In this relationship, each partner contributes in the daily business operations. Each partner has the authority to decide on business transactions and take part in contractual agreements.

The contributions, liabilities, and obligations of the partners are considered equal unless noted otherwise.

How to Start a Supplement Company

HowStart A Supplement Company

If you have the urge to start a supplement company in California you actually have a couple of business types to choose from. These include a sole-proprietorship, a corporation, a partnership, and a limited liability company (LLC).

You’ll certainly want to make an informed choice as to which one of these you’ll go for. The idea is to go for the business type that’ll best complement your situation and business ambitions.

In trying to keep things uncomplicated you may be tempted to go for a sole-proprietorship. The fact that this simplest of business structures doesn’t require you to make formal filings can certainly appeal to you.

Nevertheless, it presents a huge drawback you’ll want to be very wary of. In the event that your business will be unable to settle its debts and obligations, your personal assets could be used to do so.

I strongly recommend the LLC structure for your supplement company – for several good reasons.

Firstly, your personal assets will be protected from possible business debts and lawsuits. Secondly, taxation requirements are comparatively simpler and cheaper with this business type.

How to Get Your ITIN Quickly (5 Weeks or Less!)

how-to-get-itin-number-quickly

 

Need an ITIN? Get your ITIN here.

Individual Taxpayer Identification Number (ITIN) is a tax ID number individuals who are required to have a U.S. Taxpayer Identification Number but who do not have one and are not eligible to get an SSN must apply for.

You need an ITIN to file your taxes and open a U.S. bank account when you don’t have a Social Security Number (SSN).

It is possible to apply for ITIN regardless of immigration status (it doesn’t matter if you don’t have an SSN or if you’re an illegal immigrant) because both residents and non-resident aliens may have a US filing or tax reporting requirement.

ITIN serves as your tax identification number for:

  • Filing your taxes
  • Receiving tax return from the IRS
  • Opening a U.S. bank account,

Great news!

As IRS Certifying Acceptance Agents, we’re trained and authorized by the IRS to assist foreign individuals who don’t qualify for a Social Security Number get their ITIN quickly.

We’ve assisted hundreds of non-U.S.

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How to Dissolve an LLC In California (Form 3552 Instructions)

How to Dissolve LLC in California

If you want to know how to dissolve an LLC in California, what it means to fill 2019 form 3522, and other essential facts that reveal how to close an LLC in California, you’re on the right page.

If you’ve decided you want to close your LLC in California or if you’re no longer using your LLC, remember that the California Secretary of State will still assess annual franchise taxes (minimum of $800) as long as the LLC is registered in California, even if you aren’t operating or conducting any business from the LLC.

Therefore, if you’re not using your LLC anymore or you’re possibly closing your doors permanently, its time to know about how to close an LLC in California. In this situation, you should make sure that you cancel or dissolve LLC California business with the California Secretary of State, plus close other permits and licenses, such as your city business license, so that taxes and fees are no longer assessed.

As a business lawyer, I’ve assisted hundreds of clients just like you dissolve their LLC in California and I can help you find out how to close an LLC in California according to the California LLC dissolution checklist.

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