A Business is Born

For the last several months, our business was nothing more than a great idea. We spent time brainstorming, making pro/con lists, and conducting research to make sure our idea was indeed "great" before moving forward in developing our service. Once we made the commitment to our idea, it was time to form a real business. We took time to look into different business structures and ultimately determined that forming an LLC was the best move for our company. Below is the "2 Gals Guide to Forming an LLC". 

An LLC, or Limited Liability Corporation, is a business structure that combines the tax benefits of a partnership or sole-proprietorship with the limited liability of a corporation. At first we were very intimidated by the process of filing to become an LLC, but once we got started we realized that there were just a few simple things we needed to complete the paperwork. Once you have the below information compiled, you simply have to plug and chug the information into your state's online application. 

Information you need to form an LLC: 

1. A business name that is currently not in use in your state. We checked our business name with the Washington Secretary of State website. 

2. Two alternative business name options, just in case they are unable to use your original business name request. 

3. Address of Principal Office - This part posed a bit of confusion for us, because we do not have an operating location as of yet. With further research, we found that the Principal Office simply refers to the place where the business's books are kept and where the leaders conduct their business. For us, this was our home address. We are currently in the Development stage of our business so our decision are made from home. 

4. A Registered Agent - This is an individual or group that you indicate as the main receiver of legal and tax information from the government . While you can indicate yourself as the registered agent, we chose to use an online service to represent our company so that their address would be publicly listed instead of ours. 

You can find a registered agent in your state for a small fee. We paid about $65 for the use of our registered agent and as soon as we purchased the service we were given immediate access to the information we needed to complete our filing. It could not have been easier, and their customer service has been great and easy to work with! 

5. Pay and Press Submit! The cost of submitting the application in Washington State was $180. We received notification of our formation in just 4 business days following the submitting of our application. 

Becoming an LLC was one of the easiest processes we have endured thus far in our business journey. We were intimidated by this step initially, but after completing the process realized just how user friendly it was!  Follow my blog with Bloglovin