LLC - Easily Form Your Own Limited Liability Company LLC

Easily Form a Limited Liability Company LLC in USA for Your Business on Your Own | SAVE MONEY ON BUSINESS LAWYER
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  • Lectures 27
  • Length 2.5 hours
  • Skill Level All Levels
  • Languages English
  • Includes Lifetime access
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    Available on iOS and Android
    Certificate of Completion
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About This Course

Published 1/2016 English

Course Description

★ JOIN 1,200+ STUDENTS WHO HAVE SAVED MONEY AND FORMED A LIMITED LIABILITY COMPANY (LLC) ON THEIR OWN!

Are you an entrepreneur, small business owner, or online business owner? 

Are you thinking of starting a business or do you currently run a business? 

Do you want to form a Limited Liability Company?

Most people are surprised to find out that you don't necessarily need a lawyer to form a Limited Liability Company LLC.

Starting a business is already a confusing process, so why complicate the matter by adding high fees from attorneys when you can form a Limited Liability Company on your own?

By the end of this course, you’ll be able to form your Limited Liability Company LLC on your own.

This course is only for United States law only.

This course is an easy and actionable detailed guideline of the 6 necessary steps you need to forming your LLC, including:

  1. Naming your LLC
  2. Filing your “Doing Business As” DBA or “Fictitious Business Name”
  3. Filing your Articles of Organization with the Secretary of State
  4. Creating an Operating Agreement which details your rights and duties
  5. Applying and getting your Employer Identification Number (EIN), and
  6. Most importantly, correctly applying for your business licenses and permits.


Don’t worry — it’s simple.


► WHAT IS A LIMITED LIABILITY COMPANY (LLC)?

Becoming more as a standard for small businesses, Limited Liability Company LLC is business structure that combines the liability protection of a corporation with the tax treatment of a sole proprietorship and partnership.

Limited Liability Company is United State’s newest business structure and is the most popular form of business.

All LLC owners are protected from personal liability for business debts and claims -- a feature known as "limited liability." 

This means that if the business itself can’t pay a creditor, the creditor cannot come after an LLC member’s house, car, or other personal possessions. 

Because only LLC assets are used to pay off business debts, LLC members only lose the money that they’ve invested in the LLC.

Also, a Limited Liability Company has special tax treatment. For tax purposes, the LLC itself is not a separate taxable entity. Like owners of partnerships or sole proprietorships, LLC owners report business profits or losses on their personal income tax returns.

For these reasons, LLC combines the best features of a sole proprietorship and partnership and the best personal liability features of a Corporation.

Limited Liability Company is perfect for small online and offline businesses.


Thank you for making this the best selling LLC course on Udemy! I show my gratitude by consistently making new lectures and answering your legal questions in the course discussion!


What are you waiting for? 

Every day you wait is costing you money!

Don’t forget that this course is covered by Udemy’s 30-DAY MONEY BACK GUARANTEE - so you don’t have anything to lose.

Enroll right now!

What are the requirements?

  • Students don’t need anything — just an interest in learning how to start your business!

What am I going to get from this course?

  • Form a Limited Liability Company (LLC) on your own without costly lawyer fees
  • Discover and understand whether a Limited Liability Company is right for you and your business
  • Name your Limited Liability Company to comply with LLC laws and regulations
  • File “Doing Business As” (DBA) or “Fictitious Business Name” if you are doing business as a name other than your personal name or the legal name of your LLC
  • File Articles of Organization with the Secretary of State which is the first formal paper you will need to form your LLC
  • Create an Operating Agreement which governs the LLC’s business and member’s financial and managerial rights and duties
  • Apply and Get Your Employer Identification Number which is a number assigned by the IRS and is used for a number of business needs including filing taxes, opening a bank account, and applying for business licenses
  • Apply for Business Licenses and Permits for your business
  • Find a Registered Agent or Agent for Service of Process to receive legal documents on your behalf
  • Learn how Limited Liability Companies are taxes and how you can save money
  • Elect Corporate Taxation with the IRS to save money on taxes as an LLC
  • Dissolve and end your Limited Liability Company
  • Much, much more...

What is the target audience?

  • Entrepreneurs
  • Small Business Owners
  • Online Business Owners
  • Startups
  • Independent Contractors
  • Those who are looking to save time and money. Your time is valuable. That’s why I didn’t fill up my course with useless jargon. You only get the necessary information you need to forming your Limited Liability Company.

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.

Curriculum

Section 1: Course Introduction
03:05

Welcome to my course, “Limited Liability Company (LLC) - Easily Form Your Own.”

As a business owner, you face many decisions when it comes to starting, running, and growing your business. This course is an easy and actionable guideline to help you form your limited liability company on your own. Everything you need to know is in this course so you don’t have to worry about missing anything.

A limited liability company or "LLC," is a separate and distinct business legal entity. This means that an LLC can get a tax identification number, open a bank account and do business, all under its own name. One of the primary advantages of an LLC is that its owners, called members, have "limited liability," meaning that, under most circumstances, they are not personally liable for the debts and liabilities of the LLC.

This simplicity, protection, and ease of use have made forming an LLC a popular choice for small businesses in United States.

01:21

LLC Limited Liability Company - Easily Form Your Own - How to Make the Most of this Course!

Article

Please review before continuing.

Section 2: Limited Liability Company LLC & Deciding Whether It's Right For You
04:16

Slowly becoming more as a standard for small businesses, a Limited Liability Company (or commonly called an LLC for short) is business structure that combines the liability protection of a corporation with the tax treatment of a partnership. The LLC is United State’s newest business structure and is the most popular form of business.

There’s 2 aspects of an LLC that are significant that you need to know about. One is its limited liability aspect, and the other is how it’s taxed.

As the name indicates, all LLC owners are protected from personal liability for business debts and claims -- a feature known as "limited liability." This means that if the business itself can’t pay a creditor — such as a supplier, lender, or landlord — the creditor cannot come after an LLC member’s house, car, or other personal possessions. Because only LLC assets are used to pay off business debts, LLC members only lose the money that they’ve invested in the LLC.

Also, a Limited Liability Company has special tax treatment. Like owners of partnerships or sole proprietorships, LLC owners report business profits or losses on their personal income tax returns; the LLC itself is not a separate taxable entity.

03:43

Simply put, a Limited Liability Company is the least complex business structure. Unlike a corporation, an LLC's structure is flexible. It also gives you the perk of pass-through taxes, limited liability, and legal protection for your personal assets. Plus the added benefit of looking more legit than other business which are not LLC’s or corporations.

There are several advantages to a Limited Liability Company, but here are a few that stand out:

First, there’s Limited Liability. Forming an LLC helps protect your personal assets from liability for your business’s debts and obligations. This means that if the business itself can't pay a creditor -- such as a supplier, a lender, or a landlord -- the creditor cannot legally come after an LLC member's house, car, or other personal possessions.

Because only entity assets are used to pay off business debts, the owners stand to lose only the money that they've invested in the entity. Also, incorporating your business helps to protect you personally if a business partner or employee is accused of wrongdoing. However, keep in mind that limited liability means "limited" liability - members are not necessarily shielded from wrongful acts, including those of you employees.

More inside...

03:34

While a limited liability company offers many advantages, there are also some disadvantages. Some of the drawbacks to selecting an LLC over another entity types are...

02:24

Is forming a limited liability company right for you?

That really depends on what your short-term and long-term business goals are. Making the right decision can help position the company for success.

Having reviewed the advantages and disadvantages of forming an LLC, having the limited personal liability and the pass-through taxes characteristic of an LLC along with the low startup costs, and enhanced credibility all favor forming an LLC.

02:23

So the big looming question is, “Do you really need a lawyer to form a Limited Liability Company.”

There are several different ways you can form your LLC. One option that is available to a business owner is using an a business lawyer that specializes in starting businesses. While lawyers can help you incorporate, their fees often vary greatly and are usually expensive.

So to answer the question, “no,” you do not need a lawyer to form an LLC since state requires are usually self-explanatory if you know what you should be doing -- which is the point of this course.

Now that you know you’re capable of forming your own LLC, let’s get started!

01:25

So the question is, Can I cover my existing business to a limited liability company?

The answer is yes! Converting a sole proprietorship or a partnership to an LLC is an easy way for sole proprietors and partners to protect their personal assets without changing the way their business income is taxed.

Some states provide a simple form for converting a partnership to an LLC (which is often called a "Certificate of Conversion").

Section 3: How to Form Your Limited Liability Company LLC on Your Own!
03:18

Now that we learned what an LLC is and whether an LLC is right for… here are the six main steps when forming your LLC. It’s extremely important to remember to complete each and every step listed here. Doing so will ensure maximum protection for you and your business.

It is also important to know what you should be prepared for so that there are no surprises along the way. Specifically, make sure you have the information you need before you start the LLC formation process.
05:31

Naming your Limited Liability Company is the first step in creating your LLC.

Choosing a business name is an important step in the business planning process. Not only should you pick a name that reflects your brand identity, but you also need to ensure it is properly registered and protected for the long term.

Here are some tips to help you pick, register, and protect your business name...
03:32

Naming your business is an important branding exercise, but if you choose to name your business as anything other than your own personal name then you’ll need to register it with the appropriate authorities.

This process is known as registering your “Doing Business As” (or DBA) or it’s also known as a “Fictitious Business Name.”

A DBA (or fictitious business name) is a business name that is different from your personal name, the names of your partners or the officially registered name of your LLC or corporation.
04:53

An Articles of Organization, which is also called a "Certificate of Organization" or "Certificate of Formation” is the first formal paper you will need to file with your state’s Secretary of State to form your LLC.

Articles of Organization is a simple one-page document that legitimizes your LLC and includes basic information about your LLC like your business name, address, and the names and addresses of the LLC members. You may also include the name and address of the registered agent who will receive legal papers on its behalf.

Once filed and approved by the state, the articles of organization legally create the LLC as a registered business entity within the state.

06:28

An Operating Agreement is an agreement among LLC members governing the LLC’s business and member’s financial and managerial rights and duties.

In your Operating Agreement, you and your co-owners establish each owner's percentage of ownership in the LLC, your share of profits or losses, your rights and responsibilities, and what will happen to the business if one of you leaves.

An Operating Agreement is similar to a partnership agreement in a partnership or bylaws of a corporation. If your LLC only has one owner, an operating agreement is a declaration of the structure that the member has chosen for the company.

And sometimes it’s used to prove in court that the LLC structure is separate from the individual owner and so it’s necessary that the owner has documentation to prove that he or she is actually separate from the LLC itself.

While many states do not legally require your LLC to have an operating agreement, it's foolish to run an LLC without one, even if you're the sole owner of your company.

An operating agreement will help you guard your limited liability status, help clarify financial and management misunderstandings, and make sure your business is governed by your own rules -- not default rules created by your state.

Also, an operating agreement is highly recommended especially for multi-member LLCs because it structures your LLC's finances and organization, and provides rules and regulations for smooth operation.

04:56

Next you need to apply for an Employer Identification Number (or EIN for short). An EIN is also known as a Federal Tax Identification Number, and is a number assigned by the IRS and is used for a number of business needs including:

  • filing taxes,
  • compliance with IRS,
  • opening a bank account, and
  • applying for business licenses.
04:14

If you've completed the steps up to this point, your LLC is official.

But before you open your doors for business, you need to apply and get the necessary licenses and permits you need to operate your business. Virtually every business needs some form of license or permit to operate legally. These may include business licenses (sometimes also referred to as a "tax registration certificate"), a sellers' permit, or a zoning permit, among others.

However, licenses and permits really vary by industry, state and locality.

Learn inside how to find and apply for your business licenses and permits.

03:24

Here are some other important obligations you may have in your state when it comes to forming your Limited Liability Company (LLC).

Section 4: Frequently Asked Questions Answered about Forming Limited Liability Company LLC!
01:52

So much does it cost to form a Limited Liability Company on your own?

Well, the answer really depends on which state you form your LLC in!

We'll cover what forms and other documents will cost in forming your own Limited Liability Company.

02:35

Whenever you’re filling out your Articles of Organization, you may stumble upon a question asking the name and address of your registered agent. I wanted to clarify who this person is and how to find one for your business?

A registered agent is someone whom you designate to receive official papers for your business. These would include documents related to lawsuits, and also important communications from the state such as renewal notices for business registrations.

Sometimes Registered Agents are also called “Agent for Service of Process” which is a way of saying that registered agents are designated to receive papers relating to lawsuits. Your registered agent is “registered” in the sense that you have to submit a form to the state that “registers” who will be your business’s agent for official and lawsuit-related communications.

Section 5: Important Limited Liability Company LLC Tax Information
06:12

As you start running and growing your new business, how do you intend to structure it so that it becomes an efficiently operating, thriving enterprise? Two of the most popular organizational forms today are the limited liability company (LLC) and the S corporation. But what if I told you that you could have the best of both worlds, so to speak, by establishing an LLC and then electing to be treated like an S corporation for tax purposes? Well, it can be done.

Business owners, lawyers, and accountants can get twisted up in the debate over which is best, an LLC or an S corporation. But it's not necessarily which one is the best for you. Rather, you can set up an LLC and, after setting it up, you can elect to have the LLC treated as an S corporation. If your payroll taxes are high, you may find that an S corporation election is the best choice.
05:40

You should keep in mind that all Limited Liability Companies are subject to state and federal tax laws.

A limited liability company is not a separate tax entity like a corporation; instead, it is what the IRS calls a "pass-through entity," like a partnership or sole proprietorship. All of the profits and losses of the LLC "pass through" the business to the LLC owners, who report this information on their personal tax returns. The LLC itself does not pay federal income taxes, but some states impose an annual tax on LLCs.

The IRS treats your LLC like a sole proprietorship or a partnership, depending on the number of members in your LLC and how you designate your LLC for tax purposes...

Section 6: Dissolving & Ending a Limited Liability Company LLC
02:56

What you should do when you want to dissolve and end your Limited Liability Company depend on which state you’re dissolving your LLC. However, I will provide a guideline you should follow if you need to close or dissolve your LLC:

Review your LLC Operating Agreement - in most cases, this will contain a section with rules for how to dissolve your company. Typically the rules will require a vote of the LLC members on a resolution to dissolve, and more specifically a requirement that some percentage of members vote in favor of the resolution.

Make sure you follow any specific procedural requirements that may be part of the dissolution rules.

Winding up - choose to designate one or more LLC members to handle the winding up of your LLC. Important winding up tasks include:

  • handling any pending lawsuits,
  • settling and closing any businesses,
  • disposing and conveying any property, and
  • distributing to the members any remaining assets.

File any necessary forms with your Secretary of State — after dissolving and winding up your LLC, you most likely have to file a form with your state’s secretary of State. In Delaware, you have to file a certificate of cancellation. In California, you need to file Form LLC-3 Certificate of Dissolution of a Limited Liability Company.

On the form, you need to provide some general information about your LLC and then you need to mail it in to your secretary of state.

Section 7: Course Wrap-up
04:21

Here is a quick course summary of everything we covered in this course to form a Limited Liability Company (LLC) on your own.

Contact Me & Discount on Future Courses
Article
22 pages

Sample Limited Liability Company Operating Agreement you can use.

We strongly suggest you customize this document to suit your unique situation. You may require additional clauses or may need to remove some clauses specific for your Limited Liability Company.

This document has been prepared for general informational use only. Because this sample document does not represent the unique facts and circumstances of your business, it is highly recommended that you seek legal advice from an appropriate licensed attorney.

For the sake of simplicity, use the “Replace” feature of Word to replace all words in brackets.

33 pages

Are you an entrepreneur, small business owner, or online business owner? Are you thinking of starting a business or do you currently run a business? Do you want to form a Limited Liability Company?

Most people are surprised to find out that you don't necessarily need a lawyer to form a Limited Liability Company LLC.

Starting a business is already a confusing process, so why complicate the matter by adding high fees from attorneys when you can form a Limited Liability Company on your own?

By the end of this course, you’ll be able to form your Limited Liability Company LLC on your own.

This course is only for United States law only.

This course is an easy and actionable detailed guideline of the 6 necessary steps you need to forming your LLC, including:

  1. Naming your LLC
  2. Filing your “Doing Business As” DBA or “Fictitious Business Name”
  3. Filing your Articles of Organization with the Secretary of State
  4. Creating an Operating Agreement which details your rights and duties
  5. Applying and getting your Employer Identification Number (EIN), and
  6. Most importantly, correctly applying for your business licenses and permits.


Don’t worry — it’s simple.


► WHAT IS A LIMITED LIABILITY COMPANY (LLC)?

Becoming more as a standard for small businesses, Limited Liability Company LLC is business structure that combines the liability protection of a corporation with the tax treatment of a sole proprietorship and partnership.

Limited Liability Company is United State’s newest business structure and is the most popular form of business.

All LLC owners are protected from personal liability for business debts and claims -- a feature known as "limited liability." This means that if the business itself can’t pay a creditor, the creditor cannot come after an LLC member’s house, car, or other personal possessions. Because only LLC assets are used to pay off business debts, LLC members only lose the money that they’ve invested in the LLC.

Also, a Limited Liability Company has special tax treatment. For tax purposes, the LLC itself is not a separate taxable entity. Like owners of partnerships or sole proprietorships, LLC owners report business profits or losses on their personal income tax returns.

For these reasons, LLC combines the best features of a sole proprietorship and partnership and the best personal liability features of a Corporation.

Limited Liability Company is perfect for small online and offline businesses.


What are you waiting for? Every day you wait is costing you money!

Don’t forget that this course is covered by Udemy’s 30-DAY MONEY BACK GUARANTEE - so you don’t have anything to lose.

Enroll right now!

★ Bonus Section: The Top Secret Bonus Items Are Here!
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Instructor Biography

Sam Mollaei, Esq., Passionate Business Lawyer for Entrepreneurs

I’m a business lawyer in Los Angeles who represents entrepreneurs, creative artists, and business owners with businesses.

Why do I teach? As a business owner and entrepreneur for over a decade, I have found the legal aspect of business to be daunting and confusing.

After consulting and teaching business law for many years, I decided to combine my passion in video production and teaching to create online courses to make the legal aspects of business as easy and approachable as possible.

I have a strong passion in sharing my secrets and I hope to inspire you to succeed in your business.

I know your time is valuable so I don’t fill up my courses with useless jargon — you only get the necessary information you need to succeed.

Sign up and find out for yourself why so many people are taking and recommending my courses.

Ready to start learning?
Take This Course