FREE Incorporation or LLC Formation! Today Only!*

If it’s April 15th, it must be Tax Day. Not exactly the most exciting day on the calendar. But what if we told you that, for today only, we would help you form your own LLC or incorporate FOR FREE!

incorporate for free

Today marks MyCorporation’s third year running offering new entrepreneurs the chance to form an LLC or incorporate for free! All you have to do is use the coupon code MYFREE at checkout, and you’ll get our basic $69 LLC or Corporate Formation package for free – all you have to pay are the state fees!

As many of you may know, incorporating your business or forming an LLC comes with plenty of benefits. Not only can the right business entity help you save on taxes, but incorporation and LLC formation both add an extra layer of protection to your personal and professional assets, and gives your business an added air of legitimacy.

Normally priced at $69, our basic bundle includes an incorporation or LLC with a name check, document preparation and filing, a free domain name, annual report and registered agent services, and QuickBooks Simple Start! So if you’ve ever thought about starting an LLC or corporation, now is your chance to form an LLC or incorporate for free!

Remember that the coupon code for the Free Day promotion is MYFREE. Visit MyCorporation.com between 12 AM PST to 11:59 PM PST on April 15th and get started by answering a few simple questions about your business. MyCorporation customer care representatives will also be available from 6 AM PST to 6 PM PST on April 15th. Just give us a call at 1 (877) 692-6772!

*’Free Day’ offer only redeemable on April 15th, 2014, between 12 AM PST and 11:59 PM PST. Offer is solely for MyCorporation’s Basic Incorporation or LLC formation package, normally priced at $69. One offer redeemable per customer. Customer retains responsibility for paying any applicable state and federal fees.

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50 States of Incorporation: Oregon

Oregon is one of the most ecologically diverse states in America, with rolling forests, wind-swept coasts, and beautiful mountains. This natural beauty is one of the main drivers of tourism, one of the state’s largest industries. Oregon is also home to growing businesses in the tech, forestry, and manufacturing industries, and, according to Forbes, the state is poised to see some serious incorporate in Oregon growth. Today we’re answering the question of how to start a business in the Beaver State, and how to form an LLC or incorporate in Oregon.

What is needed to start a business in Oregon?

Oregon requires that all businesses within the state register with the Secretary of State’s Office. Now, if all you want to do is run a sole-proprietorship, you may only need to file for a DBA, or ‘Doing Business As’ name. This registration is meant to prevent fraud, and allows you to do business under a name other than your own. If you want to form a limited liability company or incorporate in Oregon, you’ll have to do a bit more paperwork.

How do you form an LLC or incorporate in Oregon?

Forming an LLC or incorporating both turn your business into its own, separate legal entity. That is good news for you because it means your company can effectively carry, and is responsible for, it’s own debts, so creditors cannot seize your personal assets to pay for the business’s debts. To form an LLC, you file your Articles of Organization with the Secretary of State and pay a $100 fee. This form will ask you for the business’s name, which must contain the words ‘Limited Liability Company,’ or the abbreviations ‘L.L.C.’ or ‘LLC.’ Along with your company’s name, you have to list its address, organizers, and the name and address of its registered agent.

If you’d like to incorporate in Oregon, you fill out your Articles of Incorporation, file them with the state, and pay a fee. Your corporation’s name has to include a designator like ‘incorporated’ or ‘corporation,’ and you will have to list the names and addresses of the incorporators, as well as the name and address of your registered agent. Corporations, however, are a bit more complicated to run, and you are required to name a board of directors, who will then help lead the business. You should also prepare corporate bylaws to guide the business’s development, and prepare minutes for any meeting at which a major business decision was made.

Does the state offer any support to small businesses in Oregon?

Yes! Oregon actually has a very handy online tool called Business Xpress meant to help out new small business owners. Using it, you can track down forms, find networking and training opportunities, and even start a business plan! The tool also has links to programs meant to support women and minority business owners in Oregon, so be sure to look around and see if there are any opportunities or grants you can use to boost your business.

Are you ready to start a business in Oregon? Have any questions about how to form an LLC or incorporate in Oregon? Give us a call at 1 (877) 692-6772 or leave a comment below!

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Introducing MyBizWiz – Our New Entity Choice Wizard!

MyBizWiz, MyCorp’s new business entity wizard, was created to help answer one of our customers’ most commonly asked questions; ‘What type of business entity should I form?’ There are plenty of different factors that need to be considered before making that final plunge. How many people run the business? What sort business is it? Do you have personal assets you’d like to protect?

Introducing MyBizWiz - Our New Entity Choice Wizard!

In order to help new small business owners navigate the often confusing world of legal business entities, MyCorporation chose to build the new MyBizWiz tool. All you have to do is answer a few simple questions about your business, and our entity-choosing wizard will tell you what type of business entity would suit you best. It also gives you a general description of that entity and runs down the basic benefits behind it.

To get started, just click here and answer a few questions. There are no obligations, and we don’t ask for any personal information – MyBizWiz is here to help you choose the best type of business entity for your company!

We’re happy happy to answer any questions you might have about MyBizWiz -give us a call at 1 (877) 692-6772!

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50 States of Incorporation: North Dakota

North Dakota is easily one of America’s most intriguing states. It was fairly unaffected by the Great Recession, and has one of the lowest unemployment rates of any state. North Dakota is also the only state with a state-run bank, the Bank of North Dakota , and a state-run flour mill, the North Dakota Mill and Elevator, which is also the largest flour mill in the USA.  incorporate in North Dakota Both of these institutions are carryovers of the Nonpartisan League, a populist political party that did so well in North Dakota that it gave the state a three-party system before eventually merging with the Democrats. North Dakota is also the reason we have a National Park system – its natural beauty inspired Theodore Roosevelt to champion conservation.

North Dakota’s excellent economy makes it a prime state to start a business. So just what do you have to do to start a company in the state? And how do you form a limited liability company or incorporate in North Dakota?

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50 States of Incorporation: North Carolina

Incorporate in North CarolinaThis week in our 50 states series we’re on the road to incorporate in North Carolina, also known as the Tar Heel State. North Carolina is home to the company headquarters of Krispy Kreme Doughnuts and Pepsi-Cola and the Great Smoky Mountains National Park.

In the last 50 years or so, North Carolina has transitioned from an economy focused on tobacco, textiles, and furniture crafting, to an economy focused on engineering, energy, biotechnology, and finance sectors. With those transitions, the state has found great start-up success!

According to the Forbes Best States For Business list, North Carolina ranks at #4 of the 50 states to start a business in – right up in the top 5 states! This high ranking can be attributed to its similarly high rankings in labor supply, environment, and growth prospects. Thumbtack.com also gave the state high marks with a steady B+, with high grades in ease of starting a business, health and safety, employment and labor, zoning, and training/networking programs.

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Member-Managed LLCs Versus Manager-Managed LLCs

Traditionally, Limited Liability Companies are treated like partnerships. Two or more people get together, found a company, form an LLC, and then start running the business. But there’s more than one way to run an LLC. Member-Managed and Manager-Managed Limited Liability Companies are run very similarly, but there are also some key differences that anyone looking to form an LLC should know.Limited Liability Company

Member-Managed LLCs

Member-Managed LLCs are, by far, the more common choice. Each member of the limited liability company is treated as equal to every other member, and everyone shares responsibility for the day-to-day operation of the LLC. Continue reading

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Business Basics: The Single Member LLC

Limited Liability Companies were, originally, meant to be a replacement for the standard partnership. In 1977, the IRS ruled that it would treat the very first LLC, a Wyoming-based oil company, as a partnership for tax purposes. That meant any money earned by the company would flow through it, directly to the members of the LLC. It wasn’t until 1988, however, that the IRS chose to recognize all LLCs as partnerships, rather than corporations. LLCs are thus, at the federal level, treated as partnerships, which complicates matters for Single Member LLCs. Single Member Limited Liability Companies thus face challenges unique to its business structure – challenges that anyone considering forming a SMLLC should know about and expect.

Single Member LLC

What are the differences between a Limited Liability Company and a Single Member LLC?

The main difference is right in the name. A single member LLC only has one member, or owner. Limited Liability Companies were primarily created to protect the interests of everyone involved in running the company. The assets and debts of the company were its own, and the assets and debts of each member was their own. If one member misbehaved and owed creditors money, the creditor could not seize control of the LLC – they could only collect on the proportional share being paid to that owner. Likewise, if the company went bankrupt, the personal assets of the members were safe. Single Member LLCs, on the other hand, are not partnerships and it has been up to the state courts to decide how much protection a single-member LLC should really provide.

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50 States of Incorporation: New Mexico

This week we’re covering the Land of Enchantment – New Mexico! Though admitted to the union in 1912, New Mexico has, for centuries, been home to the native Navajo, Pueblo, and Apache people. With the fourth-largest native population in the United States, New Mexico continues to be an important center of Native American culture. This culture, along with New Mexico’s stunning natural beauty, are the two of the main drivers of one the state’s biggest industries – tourism.

Along with tourism, New Mexico has a rich deposit of fossil fuel and natural gas, and is home to multiple military bases. In fact, federal spending is one of the biggest sources of revenue for New Mexico. The government of New Mexico is always looking for ways to help small businesses grow, and there are loads of tax incentives available to entrepreneurs in the state! But what does it take to start a small business there? How do you form an LLC or incorporate in New Mexico? And are there any special rules you should be aware of?Incorporate in New Mexico

What is needed to start your small business in New Mexico?

Anyone that does business in New Mexico has to register with the New Mexico Taxation and Revenue Department, and be issued a CRS Identification number. Your CRS number is used to collect and pay tax on gross receipts. In addition to registering, all new small businesses should apply for a ‘Doing Business As’ name with the Secretary of State’s office so that they can advertise, collect checks, and open a bank account under their business’s name. If you’d like, we are happy to run a free DBA name search on your behalf!

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Business Basics: Limited Liability Partnership

A Limited Liability Partnership is a very interesting type of business structure. Limited Liability Companies already combine the ease of running a partnership with the protection of a corporation, and the IRS originally ruled that LLCs would be taxed as partnerships. So what is the difference between a Limited Liability Partnership and a Limited Liability Company? And which one would be the best structure for your company?Limited Liability Partnership

What is a Limited Liability Partnership (LLP)?

We’ll answer the easiest question first. An LLP is very similar to an LLC – both protect the company’s owners from lawsuits and debtors, and both have a pass-through tax structure, meaning anything the company earns passes through it, directly to the owners, without being subject to any corporate income tax. However, a Limited Liability Partnership offers an extra bit of liability protection to each partner. So, just like in a Professional Corporation, the other partners in an LLP will not necessarily be liable for the consequences stemming from another partner’s actions.

Do all states recognize LLPs?

Yes, though the laws recognizing LLPs vary from state to state. The majority of the states have adopted the Revised Uniform Partnership Act, which includes a provision for LLPs stating ‘An obligation of a partnership incurred while the partnership is a limited liability partnership, whether arising in contract, tort, or otherwise, is solely the obligation of the partnership.’ In layman’s terms, that essentially means that the company, and not the individual partners, is responsible for any obligations stemming from contracts or torts. The states that haven’t adopted the RUPA instead opted for their own laws to recognize LLPs, but all follow the same basic pattern.

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50 States of Incorporation: New Jersey

Incorporate in New JerseyWe’re headed to the shore for this week’s 50 States – New Jersey is the name of the incorporation game!

New Jersey, bordered by New York, Pennsylvania, Delaware and the Atlantic Ocean, is not only home to the infamous “Jersey Shore” (both as the MTV series and popular vacation destination) but also to the second wealthiest Americans in the United States. It has a population of about 8,881,700 naming it the 11th most populous of the states.

According to Forbes, Jersey’s economy is strongly run by pharmaceuticals, financial services, telecommunications, food processing and tourism. Corporations including Pinnacle Foods, Trump Entertainment Resorts, and Kent International all call the state home to their branding headquarters.

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