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How to Start a Corporation in California

How to Start a Corporation in California

You’ve decided to start a new business in the state of California. You’ve done the research on various business structures and corporation seems to be a good fit.

While you should absolutely reach out to an experienced corporate attorney such as myself at sam@mollaeilaw.com to ensure corporation is the right choice, the next step is simple.

How Do You Form a Corporation in California?

If you follow my ten-step process, it isn’t too hard!

 

1. Select Your Corporate Name

The name of your corporation needs to be unique to other businesses already established in the state of California.

California Secretary of State and U.S. Patent & Trademark Office are great resources for checking the availability on potential business names.

It is also important that your business name isn’t misleading. It needs to make sense for what the business actually is.

You can also do a free preliminary check by mailing a Name Availability Inquiry Letter to the California Secretary of State’s office. Keep in mind,

How to Own Your Own Business

How to Own Your Own Business

One of the best things about America is that we are free to pursue our goals and dreams. For many, that includes the dream of owning a business and becoming financially independent.

Unfortunately, starting your own business is a feat that many feel is unobtainable, a goal too large to conquer.

That is simply not the case.

Owning your own business is something you can easily accomplish if you battle the process one step at a time.

Now, I am not saying becoming a business owner is easy. I am just saying it is not as far out of reach as you might think it is.

My name is Sam Mollaei and I have spent many years as a business lawyer helping regular everyday men and women jumpstart their dreams of become a self-reliant entrepreneur here in the U.S.

I want you to be successful, and I want to help you get there. If you are looking for expert advice and guidance on your journey to entrepreneurship, send me an e-mail today at sam@mollaeilaw.com.

 

Non-U.S.

General Partnership California

General Partnership California

A general partnership (also known as simply a partnership) forms when two – or more – people decide to do business together to gain profit. While you do not have to do a formal filing or draw up a written agreement to establish a partnership in California, there are registration, filing, and tax requirements every business must comply with.

Fortunately, establishing a general partnership in the state of California is a simple five step process. Follow my five-step guide and you’ll have your partnership established in no time.

If you find the steps below to be a little unclear, please send me an email at sam@mollaeilaw.com and I’ll break it down for you.

 

1. Establish Your Partnership Name

In the state of California, you have two options when it comes to your partnership name. You can operate on the surnames of your partners or you can create a fictitious business name.

If you decide to do the second option, your name needs to be different from other company names currently on record in the state of California. Ideally, you want to make sure your name isn’t too much like other existing business names.

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Types of Companies

Types of Companies

There is a wealth of decisions that go into forming a business in the United States. Arguably one of the most crucial in relation to taxation is the legal structure of your new business.

In addition to taxes, this decision plays a role in how much paperwork you end up dealing with and your ow n personal liability in the company. It even factors into how you can raise money on your company’s behalf.

The most well-known legal structures for a business include sole proprietorship, partnership, corporation, S corporation, and LLC. Limited liability partnership (LLP) is a newer development in the business world.

Fortunately, you do have the option of kicking off your business as a sole proprietorship and reorganizing your structure if you decide to take on partners. So, it isn’t set in stone.

Just make sure you notify the IRS if you make changes in the structure of your business.

Whether this is your first business venture, or you have rode this rodeo before, I highly recommend reaching out to an experienced business lawyer such as myself at sam@mollaeilaw.com.

10 Low Investment Business Ideas for 2019

Low Investment Business Ideas

Entrepreneurship is taking the world by storm. Many people, both young and old, find that working a typical desk on is no longer fulfilling. Instead of forcing themselves to work at a job they hate, these individuals are thinking outside of the box and starting their own businesses.

Worried that you’ll need a lot of cash to start your own company? With the following 10 investment ideas, you’ll be able to start your own business whenever you want:

1. Online Bakery

This idea makes starting a restaurant easier than ever. By getting rid of the entire concept of a brick-and-mortar location, you can run your new business from the comfort of your own home. If you can master the art of baking goods like cookies, cakes, breads and more, you can easily take advantage of this business idea.

Outside of obtaining stellar cooking skills and ingredients, all this investment requires is a website. Once you have your online business up and running, you’ll be able to cut costs by operating from your kitchen and delivering your baked goods on a per-sale basis.

 

#1 Reason to Have LLC for Rental Property

If you have rental property, you need to make sure you have the right business structure to protect yourself and your profits.

I have helped hundreds of real estate investors setup LLC for rental property so they can avail the rental property LLC tax advantage from their real estate rental companies.

With my knowledge of the system in specific states, I can make sure that you:

  • Don’t have to take personal liability for when things go wrong.
  • Protect as much of your profit from the IRS as possible.
  • Make filing easy and simple.

Want to know about some more benefits of LLC for rental property? In this post, you’re about to discover some of the reasons why an LLC for rental property is a great solution for you.

If you have any questions about this topic at any time in this guide, email me at sam@mollaeilaw.com and I’ll provide you with a personalized answer.

With that being said, here’s the best guide you’re going to find on LLCs, investing in rental properties across the nation,

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Is an LLC a Corporation (What’s the difference?)

Is an LLC a Corporation?

As a new business owner, chances are pretty good everyone and their brother has lined up to give you a piece of advice.

Don’t form an LLC, you want to form a corporation instead. Corporations are to complex, go with an LLC instead.

Sound familiar?

While all this advice can be helpful, it can also be confusing. One of the biggest questions new business owners and aspiring business owners email me at sam@mollaeilaw.com and ask is: is an LLC a corporation?

The answer is no. An LLC and a corporation are two different types of business entities.

It is up to you to look at the pros and cons of an LLC vs a corporation and decide which one is right for your business venture.

 

LLC vs. Corporation: What’s the Difference?

Apart from a sole proprietor, all other business organizations must register as a specific type of business such as a corporation, LLC, or partnership in the state the business is located in. As a new business owner trying to decide which one is right for you can be hard!

Incorporation Documents

Incorporation Documents

The biggest downside to establishing a business in the United States is the paperwork. There’s a lot of legal documents you are required to have regardless of what type of business structure you decide to set up.

As an experienced business lawyer, you can contact me at sam@mollaeilaw.com and I can help you with some of the more confusing paperwork. More importantly, I can make sure you have all your documentation in order.

 

New Company Document Requirements

Regardless of what type of business structure you decide to form, there are four main areas of documentation you need including formation, governance, ownership, and taxation.

Keep reading for a break down on some of the key documents you need as well as an explanation of what they are.

 

Corporation

To establish a corporation in the United States, there is one optional and four essential documents you need including the articles of incorporation, bylaws, minutes, shareholder agreements, and shareholder certificates.

 

Articles of Incorporation

Whether you file a general,

3 Most Important Benefits of Wyoming LLC (& Why You Shouldn’t…)

Wyoming LLC Benefits

“What are the benefits of a Wyoming LLC?”

I get this question asked ALL THE TIME (especially from my non-US clients).

If you’re a U.S. resident, you should definitely form your LLC in the state where you’re physically located.

However, if you’re not physically located in the U.S. and won’t be doing business in the U.S. then you have a choice of where you can form your LLC… in this case, I definitely recommend forming your LLC in Wyoming.

Short answer: you should register your LLC in the state where you are doing business (the state where you have physical presence). For example, if you will be operating your business in California, then we should register your LLC in California.

However, if you are not planning to have physical presence in the US (meaning that you will be operating solely from OUTSIDE the US), then we should form your LLC in Wyoming, the best and cheapest state for non-US residents.

Wyoming LLCs offer the best asset protection laws,

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