All Forum Posts by: Matt Horwitz

@Steve Karpinski, we teach LLC formation for free in all 50 states. PA is my home state, so know it inside and out. Here are the steps, if you still need them:

1. LLC Name. Search your desired LLC name to make sure it's unique and available to use. Here's the PA database: https://www.corporations.pa.gov/search/corpsearch. LLC designator: your LLC name must end with LLC, L.L.C., Ltd., Limited, Company, or Co.

2. Registered Office. Decide which address you'll use for your Registered Office (called "Registered Agent" in most other states). A Registered Office is a physical street address (PO boxes not allowed) where service of process (legal/court mail) can be served if your LLC is involved in a lawsuit. You can use your address, or a friend or family member's address. You can also hire a professional Registered Agent, more specifically known as a Commercial Registered Office Provider (CROP) in Pennsylvania.

3. File Certificate of Organization & Docketing Statement with the PA Bureau of Corporations. Can be filed by mail, but quicker and easier to file online online. Create an account with PENNfile: https://www.corporations.pa.gov/Account/Register_account. Login, scroll to "Start or Manage Business Filings", click "Domestic Limited Liability Company", then click "Certificate of Organization - Domestic Limited Liability Company (8821)". Fee is $125 (one-time). Approval time can be 7-10 business days, but it's usually quicker. You'll receive an email when the LLC is approved.

4. LLC Operating Agreement. Sign an Operating Agreement, which states who the LLC owners (called members) are, how much they own, how profits are split, how taxes are paid, how the LLC is managed, and more.

5. Federal Tax ID Number (EIN). Wait for LLC approval from state, then apply for EIN with the IRS. Can all be done online in 10-15 minutes and it is free. Only available M-F, 7am-10pm. https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online

6. LLC bank account. Open LLC checking account. Call around and shop rates. Most banks charge monthly maintenance fees, but a few do not. Bring stamped and approved Certificate of Organization, EIN, and driver's license.

Apologies for the late reply. Hope this helps on your LLC... or maybe another LLC filing in the future.

@Ben Bradmon Jr- thanks for the shout!

@Rubin Thomas, here's your Oklahoma LLC steps:

1. LLC Name:
Search you desired LLC name on the state's database to make sure it's unique and available: https://www.sos.ok.gov/business/corp/records.aspx. LLC name must end with "LLC", "L.L.C.", "LC", "L.C.", "LTD Liability Co.", or "Limited Liability Company"... "LLC" is the most common.

2. Registered Agent:
Choose a Registered Agent for your LLC. A Registered Agent is a person or company who agrees to accept legal mail on behalf of your LLC in case your business gets sued. Your Registered Agent must have a street address in Oklahoma (PO Boxes are not allowed). You can list yourself, your LLC, a friend, or a family member as the LLC's Registered Agent. You can also hire a professional Registered Agent (called a Commercial Registered Agent).

3. Articles of Organization:
File the Oklahoma Articles of Organization online or by mail. Both methods cost $100. 7-10 day approval by mail. 1-2 day approval online. 
File by mail: https://www.sos.ok.gov/forms/FM0074.PDF
File online: https://www.sos.ok.gov/corp/filing.aspx (need to create an account)

4. Operating Agreement:
Sign an LLC Operating Agreement. Spells out who the members of the LLC are, how much they own, how taxes are paid, how profits are distributed, and how the LLC is managed.

5. Federal Tax ID Number (EIN):
Get a Federal Tax ID Number (aka EIN) for your LLC (only after it's approved) from the IRS. Cost is $0. Takes 10-15 minutes to complete online EIN application:
https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online

6. Bank account:
Open LLC business account. Bring your approved Articles of Organization, EIN, and driver's license. Call around and shop banks. Some banks charge monthly maintenance fees, but a few do not.

7. Annual Certificate:
File your LLC's Annual Certificate each year. A requirement to keep your OK LLC in good standing. Fee is $25 per year. It's due every year by the anniversary date of your LLC (the date it was formed). File online (https://www.sos.ok.gov/forms/LLCAnnualCertificate.pdf) or online (https://www.sos.ok.gov/sosSecurity/Default.aspx > login > “File Annual Certificates Electronically” > “Select a Work Item” > “Start New”)

Hope that helps!

Definitely not. Proper PM handles all billing out of their accounts then invoices you. I'd fire this person and keep shopping.

@Michelle Felux, stay strong and keep going forward. "When you're going through hell, keep going." Winston Churchill I believe ;)

@Mike Hottinga, word! It's one of the best I've come up with ;)

@Mary Jo Mertens, yes, that is the proper way to do it. Since you're legally doing business in both states... so for example, if you had an AZ LLC that owns your AZ property and your WA property, you'd need to register your AZ LLC as a Foreign LLC in WA.

@Joe Wood, if you're in a community property state and end up forming a multi-member LLC, instead of being taxed as a Partnership (which is default), you can elect to be taxed as a Qualified Joint Venture (QJV) with the IRS... which allows married couples (who file jointly) to have their multi-member LLC taxed as a Sole Proprietorship. This can simplify your tax return a little bit for your accountant (and could save you a little). Community property states are AZ, CA, ID, LA, NV, NM, TX, WA, and WI. If that happens to be you, do run it by your account when you're able to get a hold of him/her.

@Megan Elmendorf, you'll need to call 10-20 banks to check on lending to an LLC. It is certainly done, but those loans are a different type of product not carried (or easily brokered) by a lot of shops. I'd also call the biggest REO real estate agent (or agents) in your area and ask them for a recommendation. That was how I found a found a few banks who loan to LLCs. The Missouri LLC is one of my favorite (I work in all states). Cheap to setup, instant online approval, and no annual fees! Let me know if you'd like me to spell out the steps for you... but first, is the property located in MO?

@Michelle Felux, I'd say you are gracefully kickin' some ***! Nice progress and great attitude on that 'challenging' deal. Onwards and upwards!!

You could use a general Operating Agreement template or a Partnership Agreement. Delete the sections you don't need. Simply the others. Then it's probably a good idea to sit with an attorney/advisor to review and customize... depending on how much risk is on the table.