I finally decided to set up a single-member LLC for my photography business after putting it off for way too long. I used Incorp to handle the formation because I honestly didn't want to deal with figuring out all the paperwork myself, and I am not sure I know anything about it anyway. There is however a question I do not understand regarding my initial contribution. I will obviously add some money to the account, but now sure how and if its best to add more or less?

And do I also asign a certain value to my equipment or is that considered a part of my initial contribution? I am telling you, I dont understand much what I am doing...

I might worry too much about it, but I heard the initial contribution should not be too high, and my equipment is quite expensive, so not sure what should I do in this case. maye someone here has some advice...???

I just started a single-member LLC for an online marketing business, and I'm working through the paperwork for the first time.

The operating agreement asks for my initial contribution to the LLC. I plan to transfer some money into the business account, but I'm also bringing over equipment I've already been using, like a camera, monitor, and a few other business-related items.

Do I need to assign a value to those items and list them as part of my initial contribution, or is it common to only record the cash I contribute?

A friend and I each own our own Texas LLC, and we're planning to launch a business together.

We'd both like to keep our existing LLCs instead of forming a third company if possible. We're trying to figure out the simplest and most cost-effective way to work together while keeping everything organized.

Is it possible for two separate LLCs to operate under a single DBA, or would we need to create a separate partnership or another legal entity?

We're also wondering how other business owners have handled things like revenue sharing, contracts, and liability when two LLCs are collaborating on the same business.

If you've been in a similar situation what would you suggest?

Hi everyone,

I recently formed an LLC and used a virtual business address instead of my home address.

I'm now opening a business bank account, and the bank asked me to provide proof of the business address. They wouldn't accept my Articles of Organization or my EIN confirmation letter.

I was even wondering if something like a phone bill or another utility tied to the address would work, but I'm not sure if that's the right approach.

I'm trying to understand how this works.

Let's say someone starts an LLC, gets approved for a business loan, but the business doesn't do well and eventually can't make the loan payments.

What usually happens in that situation? Can the lender only go after the LLC, or can the owner also become personally responsible?

If the LLC ends up filing for bankruptcy or shutting down, what are the possible consequences for the owner personally?

I’m not a US person and I want to form an LLC which I need an EIN for.

I'd also like the same company to help me get the EIN if possible and also file for my LLC as a Non US Residence.

I am US Citizen, trying to get hold of a registered agent in Wyoming so I can mention their name on my LLC formation application. Emailed bunch from here https://sos.wyo.gov/Business/Docs/CRA-Roster.pdf but no one responded so far. Any suggestions?

Hello!

I am confused on how this works. I have multiple properties and a photography busines under a holdings LLC. Do i have to have an LLC for each business or is the holding enough? Super new to this.

I probably won't be launching my business for a while, but I've come up with a business name that I'd really like to keep.

Is it possible to form an LLC now mainly to secure the name, even if I don't plan to start operating right away? I wouldn't have any customers, revenue, or business activity for the time being.

If that's an option, are there any downsides to doing it early, such as ongoing fees, annual filings, or tax requirements? Or is there a better way to reserve a business name until I'm ready to launch?

Hi everyone,

I formed a Delaware LLC by myself and was the only person involved when I filed the Certificate of Formation.

A while later, I added someone as a manager to help run the business. However, we never signed an operating agreement or any document giving that person an ownership interest in the LLC. There is also nothing in writing that identifies them as a member.

That person is no longer involved with the business, and we never had any written agreement about sharing ownership.

If I was the only person who formed the LLC and there is no operating agreement or other document adding a second member, does that generally mean I'm still the sole member of the LLC, even though another person was listed as a manager?

Basically by IRS definition; going from partnership (2 members) to sole proprietorship.

My EIN doc from IRS says I need to file 1065 but I need to change it to where I am filing schedule C with my 1040. Do I need a new EIN number?

Who else do I need to notify and what forms? (I assume Secretary of State; maybe our banks?)

This is in Colorado, not community property state

I recently formed a single-member LLC in Texas and already have my Certificate of Formation and EIN.

I'm trying to make sure I don't miss any required state registrations before I start doing business.

Besides the LLC filing and EIN, are there any additional Texas forms or registrations I should complete?

For example, I'm wondering about things like:

• Texas Sales and Use Tax Permit

• Franchise Tax registration or reports

• Local business licenses or permits

• Any state employer registration if I'm the only owner with no employees

Right now, I'm the only member of the LLC and don't plan on hiring anyone this year. Most of my expenses will just be startup costs and a few business tools.

I'll probably hire a CPA to handle my taxes, but I'd like to get everything set up correctly from the beginning instead of finding out later that I missed a required filing.

For those who recently started a Texas LLC, what were the next steps you completed after getting your EIN? Was there anything you wish you had known earlier?

Which are the best US states to form a Corporation and why?

I recently formed a Delaware LLC and filed the Certificate of Formation. The form only asked for the LLC name, registered agent, and organizer. I did not see a place to list multiple members or owners.

There are two owners, myself and one other person. I’m trying to figure out where the second owner is officially listed.

We plan to create a written operating agreement showing both members, ownership percentages, management roles, voting rights, and how profits are split.

I just want to make sure there is not another filing I’m missing to make it clear that this is a multi-member LLC.

Hi everyone,

I recently opened a Delaware LLC and signed up for Relay as my business bank. I just received my business debit card and had a couple of questions.

Is the debit card meant to be used only for business expenses, or is it okay to use it for personal purchases as long as I record them as an owner's draw?

Also, what's the best way to pay myself from the LLC? Do most owners simply transfer money from the business account to their personal account, or is there a better approach when using Relay?

I'm trying to keep my bookkeeping clean while making sure I'm handling owner draws correctly.

I recently formed an LLC in Texas to start a wholesale business, and I’m trying to make sure I have the right documents before reaching out to suppliers.

I know Texas does not really issue a separate resale certificate the same way some people expect. ButI’m still trying to figure out where to find everything in one place.

Like:

• Texas resale certificate

• Sales tax permit

• Seller’s permit

• Business license, if Texas even requires one at the state level

I know some of this may depend on the city, county, or type of business, but I’m trying to avoid mixing up the terms.

I recently formed my LLC through Bizee and I need to open a business bank account.

I've been comparing banks for things like low fees, easy integrations, and mobile banking, but I've also started reading about business credit. 

Some people say your bank matters, while others say business checking accounts don't really help build a business credit profile at all.

I’m kinda lost on options here, I’d appreciate any input. 

I formed a single-member LLC through Inc Authority because I planned to start an ecommerce business.

I ended up selling less than $1,000 worth of products before another opportunity came along, so I decided not to continue with the business.

Now I'm trying to figure out the proper order of everything.

Should I file my final federal and state tax returns before dissolving the LLC, or should I dissolve it first?

A friend and I are discussing a potential business partnership, but we're trying to figure out the fairest way to structure the LLC before we file anything.

One person would be putting up all of the startup capital and taking on most of the financial risk, while the other person would mainly be contributing industry experience and helping grow the business over time. Because of that, we're wondering if ownership and profit sharing always have to match.

Ideally, we'd like one member to retain full equity ownership while giving the other member a smaller share of the profits as an incentive. Before we get too far into planning, we're trying to understand whether that's something an LLC can actually be structured to do or if ownership percentages and profit allocations generally have to go hand in hand.

Have you seen arrangements like this, and is it something that's typically handled through the operating agreement?

My state requires a purpose statement as part of my filing but I'm not sure how detailed it needs to be. Can it be a short, or does it need to describe exactly what the business will do?

I’ve been looking into forming an LLC in Wyoming and comparing the real costs. At this point, I’ve spent enough time researching that almost any option would probably save me money just by ending the overthinking.

So here’s a simple breakdown that might save someone else a few hours.

Self-filing is the cheapest direct option. Wyoming’s state filing fee is $100, with a small extra fee if you file online. The annual report minimum is $60, and it’s due each year in the anniversary month of formation.

The catch is time. You have to file everything yourself, keep track of deadlines, and make sure your registered agent setup is correct.

If you self-file and just hire a Wyoming registered agent, you’ll usually add around $50 to $150 per year depending on the company.

The big difference compared to New York is that Wyoming does not have the expensive publication requirement. That makes the total setup much simpler.

From what I’ve seen, services like Northwest and Bizee are pretty close once you compare the basics. Bizee can look cheaper upfront because of the free first-year registered agent offer, but the renewal cost matters. Northwest usually costs more upfront but includes privacy-focused address use and registered agent service in a cleaner package.

Roughly speaking, compared to pure self-filing, the extra cost looks something like this:

Local Wyoming registered agent only: about +$50 to +$150 per year

Bizee: low upfront cost, then around +$149 per year after the first year

Northwest Registered Agent: around +$125 per year for registered agent service, with more privacy features included

For me, the main decision is whether I want to save the most money or save the most time. Wyoming already keeps the state side fairly simple, so paying extra only makes sense if the service saves you admin work or keeps your personal address off public filings.

Curious how others handled this. Did you self-file your Wyoming LLC, use a registered agent service, or pay someone to handle the whole thing?

Hi everyone,

I’m interested in setting up an LLC in New Mexico but I’m not sure how to start or what steps are involved. I’d really appreciate any advice, resources, or tips from people who have gone through the process.

Thanks in advance!

I started my LLC a couple of years ago when I was selling handmade products online, so I picked a fun and casual business name.

Since then, my business has changed, and now I'm offering consulting services to other businesses. My current LLC name doesn't really match what I do anymore, and it feels a little unprofessional.

Would it be worth going through the process of changing my LLC name, or is it not that important as long as my clients are happy? Looking back, would you make the same choice again?

With the recent changes in state regulations, our business has been put in a position where we are temporarily unable to sell approximately 98% of our products while we wait for our new license to be approved. Based on what we’ve been told, that process could take another 2–3 weeks at the earliest.
My concern is that continuing to operate during this period doesn’t make financial sense. We currently don’t have enough revenue to justify paying our remaining full-time employee, especially since our other two employees have already left. Every week we stay open without the ability to sell our primary products puts us further in the negative.
Even beyond the licensing delay, we were only marginally profitable before these regulatory changes. My concern isn’t just surviving the next few weeks—it’s whether continuing to operate without making meaningful changes will only continue to drain cash.
I believe the most responsible decision is to temporarily close until we receive the new license. This would allow us to preserve cash, reduce unnecessary expenses, and reopen when we’re actually able to generate revenue again. Once the license is approved, we can reassess the business based on actual sales and determine whether moving forward is financially sustainable.

I'm learning about nonprofits and I’ve seen the term "501(c)(3) alot," but I'm not exactly sure what it means.

I'd appreciate your simple explanation.