Creating a legal business structure can be an important first step in starting a new company. It can be time-consuming, but it can also save you money and liability.
Incfile is a popular online formation service with free LLC packages and fast turnaround times for filing. It also has a number of add-on features that can tailor your package to meet your specific needs.
Forming an LLC
Forming an LLC with Incfile is a quick, convenient process that saves you money and time. The Houston, Texas-based company offers an array of streamlined business formation options that allow customers to establish any type of entity, including LLCs, S corporations, C corporations, and nonprofits.
Depending on your needs, Incfile’s LLC packages range from $0 to $299 (not including state fees) and you can customize your package by adding paid add-ons. These include obtaining an Employee Identification Number (EIN) to open a bank account, creating an operating agreement document, and filing your annual report with the IRS.
Incfile also provides free registered agent service with all of its basic packages, which is a major benefit for entrepreneurs who need one. The company’s pricier Gold and Platinum plans also bundle EINs as a premium service.
Forming a Corporation
Incfile helps you form an LLC, S corporation, or nonprofit quickly and easily. Its user interface is clean, with personalized steps based on your state and type of business. Little question bubbles and hyperlinks appear throughout the process to help you understand terms and features you might not know.
The service also prepares a custom LLC operating agreement. This document defines the duties, responsibilities, and guidelines for all LLC members.
For $149 plus state fees, Incfile will file articles of amendment to alter the number of authorized shares or business activities, add or remove members, directors, or officers, and change the address of your company. They also help you qualify to do business in another state if necessary.
They also offer registered agent services for a full year at no additional cost, unless you opt to buy it separately. This is a strong price point considering the competition. Unlike some other business formation services, Incfile doesn’t pressure you to add on expensive add-ons that will drive up the total cost.
Forming a Limited Liability Partnership
If you’re looking for a business structure that limits the liability of your partners, consider forming a limited liability partnership (LLP). This type of company is best for businesses whose owners have personal assets they want to protect.
LLPs also allow business owners to form professional service businesses such as accountants, attorneys and doctors without being restricted by state laws. A general partner in an LLP is not liable for the debts of the partnership unless they were responsible for negligent acts committed by employees not under their supervision.
When forming an LLC or LLP, you’ll need to file articles of organization with your state and pay filing fees. Incfile can help you with these steps, saving you time and allowing you to get back to running your business.
Forming a Nonprofit
If you are planning to form a nonprofit, Incfile can help. Their service is free – you only pay state fees – and they take care of all the paperwork for you.
Nonprofits are legal entities that have a specific mission and are governed by a board of directors or trustees. These organizations have limited liability protection, which shields their assets from lawsuits.
The first step is to determine what your nonprofit’s purpose will be. This may involve deciding whether to be an LLC, corporation or trust, or something else entirely.
Once you’ve made a decision, file for your articles of incorporation with the Secretary of State. These documents will help you set up your organization legally, and they include information about your name, registered agent, board of directors, bylaws and other important details.
When you’re ready to form your nonprofit, Incfile will guide you through the process step-by-step. They’ll also provide you with a variety of supplemental information, including an operating agreement and an EIN.
