5 Things You Must Do After Forming An LLC

Congratulations on forming an LLC! Now what?

Maybe you have a series of questions at the back of your mind about what you will do after establishing your LLC. If that’s the case, we’ve got you covered.

 

But before we discuss this topic, let me introduce myself. My name is Sam Mollaei, and I’m from the Mollaei Law, where we help entrepreneurs like you start their businesses without dealing with all the complicated legal forms.

We are the number one highest-rated business law firm. We have over 1,876 five-star Google reviews.

Send me an email today at sam@mollaeilaw.com or Book a FREE Call to start your own LLC

What to do after forming an LLC

Enough with the introduction; let’s get to the topic…

Pay taxes associated with your LLC

The first thing you to make sure of is you pay the US federal and state taxes associated with your LLC. You’re going to want to make sure that you pay these taxes annually per calendar year.

As an LLC, you are required to pay taxes. You can’t just ignore this requirement and expect to get away with it. If you don’t pay the taxes, you will be penalized by the government, affecting your business in the long run.

Paying taxes is a responsibility that every company must fulfill, no matter what kind of business they are in. If you want your company to be successful, then make sure that you follow all of these tax-related requirements as an LLC owner.

Send me an email today at sam@mollaeilaw.com or Book a FREE Call to start your own LLC

Hire a registered agent for your LLC

The second thing you want to make sure of is you can hire a registered agent that agrees to be responsible for receiving service of process, notices, and other documents on behalf of the LLC.

When choosing a registered agent for your LLC, you have two options:

  1. a registered agent can be any member or owner of the LLC
  2. Or you can be a registered agent.

Take note:
A registered agent can be a person or an agency. They will then receive important mail on behalf of your company, such as summons, subpoenas, documents that may include notices from the secretary of state or even lawsuits, and tax notices.

Why is it essential to hire a registered agent after forming your LLC?

It is vital to hire a registered agent after you form your LLC because they will be in charge of all the legal and administrative tasks needed to keep your business running.
As an entrepreneur, it is essential to realize that hiring a registered agent will save you time and money.

They are the ones who will do all the work for you. You just have to pay them.

When hiring a registered agent, ensure that they have experience with the type of business you want them to help.

For example, hiring an attorney as your registered agent is best if your company deals with intellectual property or patents.

Send me an email today at sam@mollaeilaw.com or Book a FREE Call to start your own LLC

Filing annual report for LLC

The third thing you’re going to make sure of is you file the annual reports with the state in which your LLC was formed.

It is essential to file annual reports with the state in which your LLC was formed.

This will ensure that you are following all the legal requirements, and it can also help avoid penalties.

Again, an LLC is a legal entity that provides the limited liability of a corporation and the tax benefits of a partnership. It is essential for an LLC to file the annual reports with the state in which your LLC was formed.

This ensures that your business registration is up-to-date and that you are not missing out on any tax deductions.

1) File Annual Reports: The first thing you should do after forming an LLC is to make sure you file your annual reports with the state in which your LLC was formed.

This ensures that your business registration is up-to-date and that you are not missing out on any tax deductions.

2) Keep Up With Tax Payments: The second thing you should do after forming an LLC is to keep up with all taxes owed by filing taxes each year.

Send me an email today at sam@mollaeilaw.com or Book a FREE Call to start your own LLC

Registration reporting and tax-paying requirements

The fourth thing you’re going to make sure you do after forming an LLC is to want to maintain any ongoing registration reporting and tax-paying requirements of the locations in which your business operates.

How to maintain it?

If you are starting an LLC, it is crucial to keep in mind that there are a few things you will need to do to maintain the registration reporting and tax-paying requirements of the locations in which your business operates.

  1. Make sure to maintain any ongoing registration reporting and tax-paying requirements of the locations in which your business operates.
  2. Register with the state(s) your business operates.
  3. Consider getting professional help from a lawyer or accountant.
  4. Be sure to keep up with any changes in your industry.
  5. Don’t forget any deadlines for filing annual reports or other required documents with state government agencies.

Send me an email today at sam@mollaeilaw.com or Book a FREE Call to start your own LLC

Maintaining a business bank account

The fifth thing you want to ensure is maintaining a business bank account. This will ensure that you have a place to deposit your company’s income and pay your company’s expenses.

Why?

You need to maintain a business bank account separate from your personal account. This will ensure that all the funds are accounted for and that you still have access to cash if needed. You will also need to ensure that you have a business license and an EIN.

It is vital to maintain a business bank account separate from your personal account. This will ensure that all the funds are accounted for and that you still have access to cash if needed. You will also need to ensure that you have a business license and an EIN number.

There are many benefits to opening a business bank account. For example, it will help with accounting and tax purposes and provide the necessary information for any future financing needs. It is also crucial for any future loans or other external funding sources.

These are the five things you must do after forming an LLC. These are the formalities.

Three informal things you may want to do after forming an LLC

There are three informal things you may want to do after forming an LLC. The first thing you may want to do is continuously learn about your business and trade.

When you entered this business, I believe that you had a vision for yourself. I think that you had a vision for your business and so never stop learning about your business. Continuously learn, read books, watch videos, and continuously learn about your business.

The second thing you may want to consider is always looking for ways you can improve your business. You never want your business to go stagnant. You want to continuously search for opportunities and search for ways your business can grow.

So always search for ways that you can improve your business. And the third thing you may want to consider is reflecting on your vision.

So, as I stated earlier, when you began this business, I know that you didn’t want this business to just, you know, bring in a profit; you wanted it to thrive. You liked it to excel.

And so reflect on that vision, not every month, but daily. See, and envision where your business will be in a year or five years from now; how many customers will you have? How many clients will you be serving?

And so with that being said, if you have any questions about anything discussed in today’s article, please don’t hesitate to reach out. Email us right away. It’s time to invest in yourself. It’s time to rise!

Send me an email today at sam@mollaeilaw.com or Book a FREE Call to start your own LLC

 

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