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How to Get an EIN Number

How to Get an EIN Number

An employer identification number (EIN) is like a social security number for your business. You can apply for an EIN by filing an Application For Employer Identification Number (Form SS-4) with the Internal Revenue Service (IRS). The form can be submitted online, by mail, telephone, or fax. There is no filing fee. Below, you’ll find everything you need to know about EINs—including what they are, who needs one and answers to frequently asked questions. Get Started With Northwest Registered Agent Steps to Complete Your EIN Application: - Enter contact information - Answer LLC questions - Identify entity type - State the reason for applying - Provide accounting/tax details - Sign and send

What is an EIN?

An EIN (also called a Federal Employment Identification Number) is a nine-digit tax ID that the IRS assigns to your business for tax purposes. Your business’s EIN identifies your company when filing business tax returns—the same way your Social Security Number (SSN) identifies you. Starting a business but would rather not go through the steps below? You can opt to add EIN service when you hire us to form your LLC or corporation.

Do I need an EIN?

Probably. Businesses that hire employees or are taxed as a corporation will need to get an EIN. Here’s a list of other situations where you’d be required to get an EIN: - Your business is (or is taxed as) a corporation or partnership - You have a self-employment retirement plan - You pay excise, employment, or alcohol, tobacco, and firearm taxes - You withhold income taxes (besides wages) that are paid to a non-resident alien - You are involved in any of the following: - Trusts (other than revocable trusts owned by the grantor), IRAs, and Exempt Organization Business Income Tax Returns - Estates - Real estate mortgage investment conduits - Non-profits - Farmer cooperatives - Plan administrators EINs are also required for opening a business bank account and some state-level filings. For example, the Alabama Business Privilege Tax and Arkansas Franchise Tax need an EIN to file. If you’re a sole proprietor, you likely won’t need an EIN unless you hire employees or file any excise or pension taxes. However, without an EIN, you’ll use your social security number as your taxpayer ID. So, getting an EIN can be worthwhile—even if you aren’t required to get one.

Steps to Complete Your EIN Application

1. Enter Contact Information To obtain an EIN, you’ll need to file an Application for Employer Identification Number (Form SS-4) with the IRS. Here’s a complete list of everything you’ll need to include: - The legal name of the LLC or corporation (box 1). This must be the exact name listed on your business formation papers. - Trade name (box 2). If you have a trade name (or DBA), you must list that name here. - Executor, administrator, or trustee (box 3, optional). If applicable, enter the first, middle, and last name of the person designated to accept tax documents on behalf of your business. Typically, this would be Certified Public Accountant (CPA), corporate accountant, or attorney—not a registered agent. - Mailing address (boxes 4a-4b). This can be a PO box and located outside the US. If you completed line 3, then enter the address of that individual. - Street address (boxes 5a-5b). Enter your business’s physical address—PO boxes are not allowed. This address can be located outside the US. - County and state (box 6). List the county and state where your business is located. - Responsible party (boxes 7a-7b). This is the owner or person who has full control over the business—typically a member or principal officer. The responsible party must be a person, not an entity. 2. Answer LLC Questions - LLC questions (boxes 8a-8b). If your entity is an LLC, check ‘yes’ and indicate the number of members it has. 3. Identify Entity Type - Type of entity (boxes 9a-9b). This section is really about your entity’s tax classification. For LLCs that are taxed as corporations, follow the corporation directions below. - Single-member LLCs: Select “other” and write “disregarded entity- sole proprietorship” in the space provided. - Multi-member LLCs: Select “partnership.” - Corporations: Select “corporation” and write either “1120” for c corps OR “1120-S” for s corps. Also, note that a non-profit is a corporation. It’s just a corporation that has elected to be “not for profit.” If your entity is a corporation, you’ll need to list the state or foreign country where you incorporated your business. 4. State the Reason for Applying - Reason for applying (box 10). Indicate the reason you’re applying for an EIN. HINT: most choose “started a new business.” You’ll also need to enter the type of business you formed—such as “restaurant.” 5. Provide Accounting and Tax Details This section is focused on helping the IRS understand how your business should be taxed and the types of returns your business will file. - Date of formation (box 11). Enter the month, day, and year you started your business. - End of the accounting year (box 12). For businesses operating on a regular calendar year, this will be December. - Expected number of employees (box 13). Indicate the number of employees your business expects to have in the next year. - Employer tax return (box 14). This section determines how often you’ll submit employer returns and which return you’ll be required to submit. If you think your employment tax liability will be less than $1,000 for the year, you may be eligible to file Form 944 annually instead of filing Form 941 quarterly. - First wages paid (box 15). Enter the month, day, and year you paid the first wages. If you don’t have employees, write “N/A.” - Primary business activity (box 16). Indicate your primary business activity such as real estate, manufacturing, or retail. - Merchandise, services, or products provided (box 17). This section asks for further specifications on the type of products or services your business sells or provides. For instance, if you wrote “restaurant” in box 10, you could write “health-conscious meals to go” in this section. - Previous EIN (box 18). Indicate whether your business has received an EIN before. If yes, include the previous EIN in the space provided. 6. Sign and Send - Contact person (box 19, optional). If you want to designate a third party to receive your EIN and answer questions regarding your application, you may include that person’s information here. Otherwise, leave it blank. - Applicant signature (box 20). Include the applicant’s signature and printed name. Once you’ve completed the form, you can file online, by mail, telephone, or fax—depending on where you currently live or conduct business. If you have a US residential or business address, you may apply online, by mail, or fax. International applicants must file by telephone, mail, or fax. Online and telephone submissions will be processed immediately. Fax filings will take four business days, and mailed submissions will take 4 to 5 weeks. There is no filing fee.

How do I file the EIN application?

Online (US applicants only): EIN Online Application Mail or fax: Internal Revenue Service Attn: EIN Operation Cincinnati, OH 45999 Fax: (855) 641-6935 (US) or (304) 707-9471 (international) Telephone (International applicants only): (267) 941-1099

Frequently Asked Questions

How long does it take to get an EIN? It depends on how you file. The IRS will process online and telephone submissions immediately. However, fax filings will take one week to process. Mail filings will take four to five weeks. How much does it cost to get an EIN? There is no filing fee to get an EIN. Can I use my registered agent’s address? No. The EIN application specifically asks for your entity’s mailing address and (if different) street address. However, if you have a designated person who accepts tax documents on behalf of your business, you may enter their information instead of your business address. A designated person is typically a certified public accountant, corporate accountant, or attorney—not your registered agent. What do I put for fiscal year-end? Your fiscal year-end is the last month of your company’s accounting year. For businesses using a standard calendar, this will be December. How soon can I use my EIN? You can use your EIN immediately for most activities, including: - establishing a business bank account - obtaining a business license - mailing a tax return However, you will likely have to wait up to two weeks before you can file taxes online. Is an EIN the same as an ITIN (individual taxpayer identification number)? No. An ITIN is a tax identification number assigned to non-US residents, their spouses, and dependents without a Social Security Number. However, they are used for the same purpose. Need other forms for your business, such as operating agreements or bylaws? Click the button below for a complete list of our free forms. FREE FORMS Read the full article

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How to Prepare for the Next Bitcoin Bull Market

How to Prepare for the Next Bitcoin Bull Market: 10 Tips You Must Know

The next Bitcoin bull market could be just as surprising as the last one and staying prepared is critical. Here are 10 tips you absolutely must know. Bitcoin bull markets are typically categorized by tremendous price swings, and even though the direction is up, corrections also take place. During the last Bitcoin bull market that took place in 2021, the BTC price reached an all-time high just shy of $70K. It started the year trading at around $20K, exploded above $60K on a couple of different occasions, retraced by almost 50% toward the middle of the year, and shot up once again to almost touch $70K in November.

Source: CoinGecko The previous bull market was back in 2017 and the beginning of 2018. Bitcoin had reached a high of around $20,000, but its chart looked a lot differently:

Source: CoinGecko As you can see, each cycle has its own intricacies, and playing it correctly could make or break your bankroll. Riding an uptrend can be a lot more challenging than just holding on to your assets. There’s knowledge involved as to when is the right moment to sell or reposition yourself to bets preserve your gains. The last thing you want is to be left holding a bag of an altcoin that’s down 99% since its all-time high and pray that it will go there once again. With this in mind, we’ve prepared 10 tips that everyone should know, and they should help you to better navigate the next Bitcoin bull market.

10 Tips For the Next Bitcoin Bull Market

Educate Yourself Regardless of what you invest in, gaining sound knowledge of its underlying merits is step number one in any investor’s playbook. You absolutely must know what you invest in, and the same goes for Bitcoin (or any altcoin, for that matter). Familiarize yourself with Bitcoin’s fundamentals, such as its total limited supply, utility, and adoption rates. You can also analyze historical price patterns, market cycles, and factors that tend to influence Bitcoin’s price. This knowledge will definitely help you make more informed decisions. A great place to start learning more about the BTC fundamentals is our section called Bitcoin for Beginners. It contains a lot of helpful information, such as who created Bitcoin, who is eligible to create an account, how to store Bitcoin, is it safe, and much more.

Research and Analyze Once you have the fundamentals down, it’s important to stay informed about both Bitcoin and the broader cryptocurrency market. Think about it this way – if you’re investing in land, you will undoubtedly analyze the factors that could impact it. These include the condition of the land, what you can grow on it, but also – who your neighbors are, the general area where it’s located, and so forth. The same goes for investing in Bitcoin. You should stay informed about what’s going on in the market. You can read books, follow reputable news sources, join online communities, and in general – do a ton of other things that will help you learn about the technology. In turn, this will help you anticipate market trends and potential catalysts, which can maximize the return on your investment in Bitcoin. Define Your Investment Goals What are your plans for the money invested in Bitcoin? When do you want to cash out? Can you afford to lose it? Determining your investment objectives is paramount because it will also impact other important decisions, such as how much risk you’re willing to tolerate and the time horizon. Despite being the largest and, supposedly, most secure cryptocurrency, it’s still considered very risky relative to investments in traditional finance. Please refer to the charts above – the BTC price went on to gain 300% and then lost 50% of it in a matter of less than six months. This tumultuous performance can be hard to stomach, so being aware of it in advance and being able to tolerate it is something you should consider. Develop an Investment Strategy Once you have the above all clear, you should be more or less ready to develop an overall investment strategy. There are multiple ways to invest in Bitcoin. One of the more popular strategies is the so-called Dollar Cost Average (DCA). We have a dedicated guide and a video explainer of DCA that you can find here. In general, though, it represents a way to buy Bitcoin in similar increments over a similar period of time. For example – you can buy $100 in BTC every month. The benefits of it are that over a long-enough time period, you get the best average price. There are also other strategies to invest in Bitcoin. For instance, the so-called value averaging suggests adjusting your investment amounts based on market performance. E.g., you can buy more Bitcoin when there’s a bigger dip. In all cases, you must set guidelines for when to buy, hold, or sell BTC based on your own risk appetite and analysis. Set a Budget Now that you know how you will invest in Bitcoin, the next step is to set your budget – how much do you want to spend? This is incredibly personal and depends entirely on your current and projected financial situation. Setting up a budget and sticking to it will help you better track your investment and also manage your risk tolerance. The most important takeaway here, however, that is specific to investing in Bitcoin for the next bull market is to understand that BTC is a risky purchase. That said, you should never invest more than what you can afford to lose without significantly impacting your overall financial stability. Secure Your Investments Crypto scams and hacks happen regularly. Not only that – what were generally considered reliable firms (such as FTX and Celsius) have failed and left investors empty-handed and in search of reparations. Here is a breakdown of the industry’s most shocking events. You’ll surely notice that some of them are related to platforms being hacked or having failed. Make sure to use reputable cryptocurrency exchanges or platforms to buy Bitcoin. Once you’ve bought, make sure to move your stash off-chain and keep it in a hardware wallet. Diversify Your Portfolio As you might have probably noticed, Bitcoin bull runs also result in a massive expansion of the broader market capitalization. For reference, it reached over $3 trillion in 2021. This means that other cryptocurrencies are also benefitting from the Bitcoin price increase. It’s worth considering having your investment diversified by including other promising cryptocurrencies or even blockchain-related assets. Keep in mind, though, that if Bitcoin is volatile and risky, other cryptocurrencies are even more volatile and risky. However, a properly diversified portfolio can spread your risk and even capture additional opportunities.

Practice Risk Management The crux of this guide is to help you practice better risk management. The cryptocurrency market is one that’s characterized by volatility, and it is very easy to get caught up in traders posting tremendous ROI screenshots. Approach these with tremendous caution. There will always be missed opportunities, no matter how much time and effort you spend or how well-educated you are. However, there will also be new opportunities. Do not FOMO, do not panic sell, and do not let your emotions get the better of you. Employ a risk-management strategy and stick to it. Determine your exit strategies, use stop-loss orders (if it’s a shorter-term leveraged investment) to limit your potential losses, and make sure you follow your rules. Stay Disciplined Staying disciplined is just as important as making the decision to invest in Bitcoin. It’s important to remain committed to your strategy and not be swayed by any type of short-term market hype or the fear of missing out (FOMO). Remember that emotional decisions probably result in impulsive actions and most commonly lead to potential losses. Stay Informed and Adapt Remain involved in the industry, at least to some extent. Keep up with the latest news, market trends, and regulatory developments in the broader cryptocurrency space. Make sure to adapt your strategy, if it’s necessary, based on new information or changes in the broader market landscape.

Conclusion

Investing in Bitcoin should be regarded as investing in multiple other asset classes, but it has its intricacies and specifics. The sheer volatility of the BTC price makes it a lot tougher to stomach overnight swings in your portfolio, but if you have your sight set on the bigger picture, these become easier to go through. One sign that you’re overinvested is that you’re constantly on your phone, checking the prices every hour. If done correctly, investing in Bitcoin can be stress-free, and all of the above tips are aimed at exactly that. Read the full article

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Ways Pi Network’s Open Mainnet Will Benefits Everyday People

Top 5 Ways Pi Network’s Open Mainnet Will Benefits Everyday People

The advent of blockchain technology has revolutionized the world of finance and decentralized systems. One project that has gained significant attention in recent years is the Pi Network. With its unique approach to cryptocurrency mining and a commitment to inclusion, the Pi Network aims to empower everyday people and create a more accessible digital economy. As the project prepares to launch its open mainnet, the potential benefits for individuals around the globe are becoming increasingly clear. 1. Democratizing Mining Traditionally, cryptocurrency mining has been dominated by large-scale operations that require substantial investments in hardware and energy consumption. The Pi Network, however, has designed its mining process to be accessible to anyone with a smartphone. By leveraging the power of mobile devices, the network enables individuals to contribute to the blockchain’s security and earn Pi tokens without the need for expensive equipment or excessive energy usage. 2. Redefining Digital Identity The Pi Network introduces the concept of a digital identity tied to real-world individuals, allowing users to build trust and credibility within the network. This identity system, coupled with the network’s consensus algorithm, creates a secure environment where participants can transact and interact with confidence. Through the open mainnet, everyday people will be able to leverage their digital identity to engage in a variety of activities such as e-commerce, peer-to-peer transactions, and decentralized applications. 3. Financial Inclusion One of the fundamental goals of the Pi Network is to promote financial inclusion, especially for the unbanked and underbanked populations. By providing an accessible platform for individuals to earn and transact with Pi tokens, the network offers a pathway to financial empowerment. Everyday people who previously faced barriers to traditional financial services can now participate in the digital economy, access global markets, and secure their financial future. 4. Building Trust and Community The Pi Network’s emphasis on building trust and fostering a sense of community sets it apart from many other blockchain projects. The network’s social mining model encourages individuals to invite friends and family to join, promoting organic growth and expanding the network’s reach. Through the open mainnet, everyday people will have the opportunity to connect with like-minded individuals from diverse backgrounds, share knowledge and experiences, and collectively contribute to the growth and development of the Pi ecosystem. 5. Early Adoption Benefits Being an early adopter of a blockchain network can bring significant advantages. As the Pi Network transitions to its open mainnet, early participants will have the opportunity to earn and accumulate Pi tokens, which may appreciate in value over time. This potential appreciation provides an incentive for everyday people to engage with the network and actively participate in its growth. Furthermore, by gaining familiarity with blockchain technology and decentralized systems, individuals can position themselves to take advantage of future opportunities within the broader cryptocurrency landscape. The Pi Network’s open mainnet launch holds immense promise for everyday people seeking to benefit from the opportunities presented by blockchain technology. By democratizing mining, redefining digital identity, promoting financial inclusion, fostering trust and community, and offering early adoption benefits, the Pi Network creates a platform that empowers individuals to participate in the digital economy on their own terms. As the project continues to evolve, it has the potential to reshape the way we engage with technology and redefine the relationship between individuals and financial systems. New on Pi Network, register here, start mining Pi and do KYC to secure your account. Read the full article

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How to Change Your Registered Agent

How to Change Your Registered Agent

When You Want More To change your registered agent for your LLC or corporation, you’ll need to file paperwork with the state. Below, you’ll find a general guide on how to change your registered agent that includes information about the processes, forms, and fees involved as well as helpful links to more detailed information on how to change a registered agent in any state. When you sign up for registered agent service with us, we streamline the filing process for you, submit the paperwork necessary to change your registered agent, and even pay your state filing fee.

Change Your Registered Agent

Why Do I Need a Registered Agent? A registered agent is an individual or business you appoint to receive service of process (legal notices) on your business’s behalf. Every state requires an LLC or a corporation to have a registered agent if the business operates there, though some states refer to the position by different names (such as an agent for service of process, a resident agent, or a statutory agent). A registered agent must maintain a physical location in the state, called a registered office, and the registered agent must be available at that location to receive service of process and other official state documents during normal business hours. In general, states require LLCs and corporations to appoint registered agents to keep a channel of communication open between the state and every business within its jurisdiction. Learn more about what a registered agent does or check out our handy Registered Agent FAQ. Reasons to Change Registered Agents Pretty much any qualified individual can be a registered agent, which is why business owners commonly take on the job themselves or appoint their associates, accountants, or attorneys. But these are also among the major reasons why so many businesses find themselves needing to appoint a new registered agent after being in business for several years. Here are the most common reasons why you might need to change your registered agent: 1. You appointed yourself or an associate It looks easy to be a registered agent, so why not do it yourself? As it turns out, it isn’t always easy to be available consistently at the same place during normal business hours, as a registered agent needs to be, especially while trying to run a business, hold meetings, travel, and otherwise manage your company’s day-to-day operations. So a lot of business owners start out as their own registered agents and decide, after a little while in business, that they would rather appoint someone else (or pay someone else) to bear the burden. In such cases, the business needs to change registered agents. 2. Your registered agent resigned or ended your business relationship It’s common to appoint an accountant, an attorney, or some other individual third-party to serve as the business’s registered agent. The trouble with this arrangement, however, is that an individual registered agent may resign the position at some point down the road (necessitating a change of registered agent), or the individual’s relationship with your business may come to an end. It’s unlikely that an accountant or an attorney who no longer works with your business will want to continue serving as your registered agent—a situation that, once again, requires your business to change registered agents. 3. Your business wants to expand to new states Individual registered agents can’t be in two places at once, which presents a problem if your business decides to expand to other states. Unless you originally hired a registered agent service with offices in multiple states when you started your business, you’re likely going to need to appoint a completely different registered agent for your business each time it expands to a new state, so you’ll end up with two or more registered agents to deal with. One solution? Switch now to a national registered agent service with offices in all 50 states. Unlike many individual registered agents, a national registered agent service will know the ins and outs of the change a registered agent filing process in every state and will typically provide more reliable, more cost-effective services than most individuals registered agents can provide. How to Change Registered Agents 1. Choose Your New Registered Agent Your first step is to decide on your new registered agent. You can find a list of available registered agent services on most secretary of state websites, or you can consult our guide to Registered Agent Market Share to get a sense for the number of providers available and their size. At Northwest, we have offices in all 50 states, plus the District of Columbia and Puerto Rico, and we offer registered agent service for $125 a year. That’s a price that never changes, and it includes a secure online account, access to our expert Corporate Guides®, a host of useful online filing tools, and stable, transparent prices. And when you hire Northwest, WE serve as your business’s registered agent instead of hiring a third-party registered agent service provider. That means you’ll deal with one company, one customer support staff, one phone number, one website, and one personalized, reliable service. 2. Submit Your Filing and Fee to the State Some states require special forms to change your registered agent, some states allow you to change your registered agent by filing an amendment, and some states do both. In any case, you will file your change of registered agent paperwork with the agency in charge of business formations in your state (usually the office of the secretary of state), and you can expect to include the following information: - Your company name - The name & address of your current registered agent - The name & address of your new registered agent However, the filing requirements, forms, fees, and other details are determined by each state and vary widely. It costs $25 to file a Statement of Change in Alaska, for instance, $20 in Rhode Island, and $10 in North Dakota. Similarly, some states allow only online filing, some states will only accept your paperwork through the mail, and some states will do both. To determine those state-specific details, scroll down to the next section (“State-by-State Filing Requirements”) and select your state. 3. Inform Your Current Registered Agent of the Change States typically don’t require you to inform your former registered agent that you have appointed or hired someone new, but it is wise (and also polite!) to do so. If you neglect to inform your previous agent of the change, after all, you might get billed for services you no longer need or use. Ready to make the switch and hire Northwest to be your company’s registered agent? We’ll file your change of registered agent paperwork for you and even pay your required state filing fee. Change Registered Agents in Your State Today Click on the state name for more detailed information about changing your registered agent in each state, or switch to our registered agent service and let us handle the change of registered agent process for you. Read the full article

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How to Find a Company’s Registered Agent

How to Find a Company’s Registered Agent

Tracking down a company’s registered agent may seem difficult, but when a company files for formation with the state, they have to list their registered agent on their paperwork. After their business is formed, their documents become public information. Whether you’re looking for the registered agent of an LLC or a corporation, the process of finding their information is the same. Sometimes a quick Google search can lead you to the company’s registered agent’s information. But sometimes, registered agent information is a little harder to find. Luckily, a little digging can get you what you need.

Why would I need to find a company’s registered agent?

Process servers are generally the ones who will be looking for a company’s registered agent. A process server is someone whose job is to serve legal documents to someone involved in a court case.They’re tasked with delivering what’s known as “service of process.” Service of process is notice of legal action, such as a legal complaint, summons, or subpoena. In order to serve a company, a process server will need to deliver service of process to the company’s registered agent, who serves as a company’s point of contact. However, contacting a company’s registered agent isn’t just limited to service processors. Individuals or businesses who are struggling to get in contact with a business might seek out its registered agent too.

How to find the registered agent of a company

Whether the business is domestic, with one location, or foreign with their headquarters in another state, they are required to have a registered agent in the state where they are operating, i.e. the state where you are serving papers if you’re a process server. This is the registered agent you’ll typically want to contact. Find the state agency for business filings In the state of operation, you’ll need to contact the state office where the company originally filed their formation documents. For most states, businesses are registered with a division of the Secretary of State or the Department of State. In a handful of states, however, business registrations are done via different state commissions or departments: - Alaska: Department of Commerce, Community, and Economic Development - Arizona: Arizona Corporation Commission - Hawaii: Department of Commerce and Consumer Affairs - Maryland: Department of Assessments & Taxation - Massachusetts: Secretary of the Commonwealth - Michigan: Department of Licensing and Regulatory Affairs - New Jersey: Department of the Treasury - Utah: Department of Commerce - Virginia: State Corporation Commission - Wisconsin: Department of Financial Institutions Most filing offices give access to business registration information on their website. Conduct a business entity search A business name search or business entity search will often get you the information you need. If the state you’re looking into has an online business search, you’ll usually be able to find a company’s registered agent by doing the following: - Go to the Secretary of State’s (or other state agency’s) website. Look for a tab or link labeled something like “Businesses,” “Business Entity,” or “Corporations.” Sometimes the tab will read “Search Businesses” or “Business Search.” >> Checkout our complete list of Secretary of State Name Searches - - Read the full article

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Commercial Registered Agent 101

Commercial Registered Agent 101

A commercial registered agent is a type of registered agent—a person or entity that accepts state and legal mail for your business. In some states, appointing a commercial registered agent may affect how you complete business formation papers. This article will explain everything you need to know about commercial registered agents—what they are, when you need one, how they differ from non-commercial agents, and more. So, let’s begin.

What Is A Commercial Registered Agent?

Commercial registered agents are registered agents that typically serve many clients and have additional state registration requirements. A commercial registered agent has filed a listing statement or registration with their state’s Secretary of State office. These filing or registration requirements are usually aimed at larger registered agent service providers. For example, Delaware requires registered agents to file a statement if more than 50 entities appoint them. They must also maintain a Delaware business license. In addition, Nevada requires agents to file if they serve ten or more businesses. These requirements give the state more oversight for large providers, helping to ensure the businesses they serve receive legitimate, quality service.

What Is A Non-Commercial Registered Agent?

A non-commercial registered agent is simply an individual or entity that hasn’t registered as a commercial registered agent with the local Secretary of State. Most individual and single-state registered agents will fall into this category. If you serve as your own registered agent, then you fall into this “non-commercial” category. Non-commercial registered agents typically represent a smaller number of businesses than commercial registered agents, who often serve entities in multiple states.

Commercial Registered Agent vs Non-Commercial Registered Agent

Non-commercial registered agents can work well for smaller companies that want to remain local. Plus, you or someone within your business could act as your own non-commercial agent. So, you wouldn’t need to hire a dedicated registered agent service. Commercial registered agents, on the other hand, tend to have offices in several states and can be great for growing your business. Because a local agent is nearly always required for each state where you conduct business, hiring a commercial registered agent could make expanding smoother. Increased oversight can also give you peace of mind compared to appointing an inexperienced or busy owner, officer or friend. In addition, commercial agents are typically more established—meaning, they have years of experience and knowledge that you can benefit from.

Which States Recognize Commercial Registered Agents?

Currently, only sixteen states (including Washington DC) use the term “commercial registered agent” as a distinction from non-commercial registered agents: Arkansas, Colorado, District of Columbia, Delaware, Hawaii, Idaho, Indiana, MaineMississippi, Montana, Nevada, North Dakota, South Dakota, Utah, Washington state, Wyoming. Although not all states distinguish between a commercial and non-commercial registered agent, a few have similar provisions. For example, California doesn’t use the term “commercial registered agent.” However, all domestic and foreign corporations that provide registered agent service must file a Registered Corporate Agent for Service Of Process Certificate ($30) with the California Secretary of State. Individuals are not required to file. In addition, Pennsylvania doesn’t use the term registered agent at all. Instead, businesses must designate a registered office OR commercial registered office provider (CROP) to receive legal and state documents. Much like a commercial registered agent, CROPs must register with the state.

Frequently Asked Questions

How do I know if I am using a commercial registered agent? Not sure if you hired a commercial registered agent? Most Secretary of State websites provide a complete list of commercial registered agents within their jurisdiction. Additionally, if your state requires you to distinguish between commercial and noncommercial agents on formation paperwork, you may be able to find this information on your articles of organization or incorporation. Or, you can always ask your agent directly to confirm. How can I become a commercial registered agent? To become a commercial registered agent, you’ll need to file a Commercial Registered Agent Listing Statement (or your state’s equivalent) with the Secretary of State. The required information will vary among states. However, you’ll most likely need to include: - The individual or entity’s name - Street/mailing address - Phone number - Email address - Signature of the person filing Most states require commercial registered agents to have a unique name. Meaning, it can’t be too similar to any commercial registered agents already registered with the state. You can search most Secretary of State websites to see if your desired name is available. If the name you want isn’t available, you may need to choose an alternate. This is also true for individuals—in which case, a DBA would be necessary. How much does it cost to become a commercial registered agent? Most states won’t charge a filing fee to register as a commercial registered agent. However, a few states require fees, and costs can range between $10 (Washington), $50 (Arkansas), $150 (Maine), and $1000 (North Dakota). Do I need to list an address for my commercial registered agent? Most states don’t require you to list a commercial registered agent’s address. The Secretary of State will already have it on file. Is Northwest Registered Agent considered a commercial registered agent? Yes! With offices in all 50 states, plus Washington DC and Puerto Rico, Northwest Registered Agent is a national, commercial registered agent service provider. And registered agent service is not simply an add-on or a side product for us. It’s at the core of everything we do—it’s in our name. Looking to hire a commercial registered agent? HIRE US TODAY! Read the full article

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How to Start a Business

How to Start a Business

Starting a business isn't nearly as complicated as most online guides make you think. Most websites talking about “how to start a business” just regurgitate old ideas. Starting a business used to involve a brick-and-mortar storefront, getting a bank loan, and taking on massive risk and debt. Times have changed. Now, starting a business is about getting started fast, often online. Making sales as soon as possible. Protecting yourself from liability. Protecting your privacy. We take you through the steps you need to get up and running and start doing business the right way. Below, we go over everything from making a plan to selecting the right business structure for your company—and your state. Creating a Business Plan Most websites and guides overcomplicate business plans. Down the road, sure, you’ll want a fancy, formal business plan to show to potential lenders or investors. But you won’t get lenders or investors without sales. And you won’t get sales until you get started. What you need right away is to answer a few basic questions. - What am I selling? - Who is buying? - How do I connect to buyers? - What are my costs? - How much do I charge? On our Small Business Ideas page, we’ve answered these questions for you for different types of businesses. Want to start a home-based graphic design business? How about a cleaning service? We’ve done the legwork for you in our ever-growing list of industry-specific guides. Learn which tools you’ll need, steps you should take and even how much to charge in our free guides. On this page, you can also find articles on popular business models, such as opening a franchise or selling products online. In addition, we tackle logistical questions you might encounter at every stage of your business, from choosing a business name to hiring employees.SMALL BUSINESS IDEAS Choosing a Business Structure After figuring out what your business is going to do and how it will make money, it’s time to decide what kind of business structure is best for your business. Do you want to start an LLC? A sole proprietorship? A corporation? The structure you choose will play a major role in how your business is taxed, managed, and owned. It will also determine how much personal liability you have. Each business structure has different benefits and drawbacks. They also require difference processes to get started. Below, we go over the most popular choices for business structures. Ready to explore a particular option? Check out our free “how to start a business” guides for LLCs, corporations and nonprofits. FREE LLC Guide FREE Nonprofit Guide FREE Corporation Guide Sole Proprietorships and Partnerships Have you made your first sale? Congratulations, you have a sole proprietorship or partnership. Unless you form an entity like an LLC or corporation, your default business is a sole proprietorship (one owner) or a partnership (multiple owners). And your business? It’s an extension of yourself. It’s not a separate legal entity. So all your company’s liabilities are yours personally. On one hand, sole proprietorships and partnerships are simple. They don’t require state paperwork to formally open or close. They��re cheap (unless you get sued or go bankrupt). There are no state filing fees or annual report fees. On the other hand, there are major downsides. No liability protection for yourself or your investors. No tax flexibility. No stocks. No prestige. No cool name without a DBA. Because of these downsides, once you’ve proven your concept and made some sales, it’s time to protect yourself and your investors with an actual business entity, such as an LLC or corporation. Why Form an LLC or Corporation? With an LLC or corporation, you take on considerably less risk and have better control over how taxes affect your earnings. LLCs and corporations are business entities formed by filing articles with a state agency, typically the Secretary of State. Because these entities are subject to state filing fees and reporting requirements, they cost more to start and maintain. However, in exchange for extra fees and paperwork, you receive some significant advantages and protections—namely limited liability and tax flexibility. - Limited liability: Both LLCs and corporations are legally separate entities from their owners. In other words, owners and investors are not personally liable for the debts and obligations of the business. Not only does this help protect your personal finances, but it also provides a much safer and more attractive scenario for investors. - Tax flexibility: Unlike default business structures, LLCs and corporations have multiple tax election options. For instance, both can be taxed as C-corps or S-corps. Even if tax talk bores you to tears, it’s easy to understand that having more options is more advantageous. You can pick the option that will save your business the most money or allow for the greatest opportunities. What about Privacy? Many owners have concerns about maintaining their personal privacy when starting a business—and rightly so. Sole proprietors and general partners literally share their personal names with their businesses. LLCs and corporations require public state filings. But, with an LLC or corporation, there is an easy step you can take to better protect your privacy: hiring the right registered agent service. When you form an LLC or corporation, any personal information you include on your formation paperwork becomes part of the permanent public record of your business. So, if you list your private address for your principal or registered office (or for your member, manager, director or officer addresses), that information is typically available to anyone. Scammers, spammers, solicitors, competitors, data miners, marketers, weird neighbors—anyone. However, as your registered agent, we can list OUR business address instead of your personal address when we file your formation paperwork. It’s an extra layer of privacy protection that you cant’ get filing yourself—or hiring a standard filing service. Maintaining privacy is a powerful reason professionals choose Northwest Registered Agent to form their businesses. We practice Privacy by Default® to help protect our clients’ personal information. LLC vs Corporation So how are LLCs and corporations different? Mostly in ownership, management and taxation. LLCs are owned by members and can be run by the members themselves (like a partnership) or by managers (like a corporation). LLCs also have the greatest number of tax election options. LLCs are initially taxed as disregarded entities or partnerships but can apply to be taxed as a C-corps or S-corps. In a standard corporation, shareholders own pieces of the corporation, represented by shares of stock. Stock is easily transferable, making investing in a corporation fairly simple. Shareholders elect a board of directors to make business decisions, including appointing officers. Corporations are automatically taxed as C-corps but can apply to be taxed as S-corps. Many nonprofit corporations can qualify for tax-exempt status as well. Not sure which entity is right for you? Our LLC vs Corporation page takes a deep dive into the pros and cons of each business structure. Granted, starting an LLC or corporation takes a little know-how. That’s why we’re here. Northwest Registered Agent is at your beck and call to help fill knowledge gaps and bolster your ideas. We also have a whole team of local experts, our Corporate Guides®, who can answer your toughest questions by phone or email. And of course, we can form your LLC or corporation for you, so you can get started fast with the support and privacy protection you deserve. >>>Starting a Business in Your State Read the full article

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How to Choose a Business Location

I Don’t Know Where I Should Start My Business… Now What?

Choosing a successful location for your new business requires many considerations, including affordability, accessibility, and competition. Unfortunately, not only are finances tight when starting a business, but there’s often tremendous pressure to get the ball rolling and start bringing in sales. As tempting as it may be to sign the first available lease in your price range, it’s crucial to remember that your business will likely be in the same location for years—and your location will affect nearly every aspect of your business. Below are 7 key steps small businesses can take when looking for an office, storefront, or other physical work site.

How To Choose A Business Location

1. Form Your Business Where You Do Business When people ask about the best state to start a business, common responses are states with low or no business taxes (like Wyoming or Nevada) or business-friendly laws (like Delaware). However, small businesses—particularly brick and mortar companies—tend to fare better forming in their home state. Why? Odds are this is where they’ll be conducting business. Companies form in one state but are legally required to register in any additional state they do business in (a process called “foreign qualification”). Now, every state varies a bit on what is considered “doing business,” but if you have a physical presence (like an office or warehouse) or employees in a state, you’re usually considered to be doing business there. Imagine you form your business in Nevada because they have no corporate or personal income tax. However, you conduct all your business in your home state. You would need to pay all of Nevada’s steep formation and maintenance fees (and hire a registered agent since you don’t live there). On top of this, you would have to apply for foreign qualification in your home state and pay any recurring local fees. And after all that, it’s highly unlikely you’d avoid your home state’s taxes entirely—you reside there, make sales there, and work there. So, if you’re starting a small local business, forming in another state may not be worth the headache. 2. Research Zoning Restrictions and Ordinances Zoning restrictions are common, especially for manufacturing and other industrial processes that create noise, odors or pollution. Businesses that may create excessive traffic (like a stadium or convention center) usually have zoning restrictions as well. If your industry is considered potentially harmful to youth—like alcohol or weapons sales—you’ll have to navigate restrictions preventing you from setting up shop near schools or other places with large number of minors, such as parks or libraries. Politically contentious businesses may also inspire new ordinances, protests or other restrictions. For instance, Greenfield, Massachusetts has successfully protested against chains and big box retailers that might hurt small businesses. And when the state of Washington legalized recreational marijuana sales, some cities (such as Pomeroy and Othello) responded with local ordinances prohibiting these businesses. The takeaway is to always check for restrictions—and even if there are no current restrictions, it would be wise to tune into local attitudes toward your particular industry before opening your doors. 3. Stay Close to Resources (and Ensure Availability) What does your business actually need to function? For instance, if your business manufactures, processes or retails physical products, is it possible to find a location near suppliers, a distribution center or an order fulfillment center? The more removed you are from your supplies or products, the longer delivery times will be, and the more shipping and transport will cost. Also, not every location has the basic infrastructure or even legal permissions for everything your business might need. For instance, if you’re opening a gym, you may need to install showers—which would likely require extensive plumbing and permits. Opening a coding camp? You’ll need a location that can support your internet connectivity requirements. Essentially, if you’ll need building permits for extensive construction or depend heavily on third-party utilities, make absolutely sure these will be available before settling on a location. 4. Go to Where the Customers Are  For customer-facing businesses, you ideally want to bring your business to wherever your customers are. For instance, if you sell golf accessories, it would make sense to locate your business near a golf course or a high-end shopping area that might attract customers who can afford this kind of recreational activity. It’s always a much tougher sell to convince customers to travel far or go out of their way to seek out a product or service. Choosing a location near complementary businesses is especially important for retail and service industries that typically benefit from foot traffic. On the flip side, while it’s a good idea to consider the customers already in an area, you want to be sure your business isn’t entirely dependent on the customer traffic of other businesses. If you’re selling lawnmowers in suburbia, odds are that lawns in the area won’t disappear overnight. However, if you set up your tutoring service across the street from a local college, imagine what would happen to your customer base if the college closed or moved locations. 5. Don’t Necessarily Avoid Competing Businesses Your gut reaction may be to avoid areas with lots of competing businesses. After all, businesses with similar products and services can easily end up hurting themselves with price wars and other desperate measures to win over a small client pool. In some cases, however, it may be beneficial to be surrounded by competitors. Ever notice how there tends to be five or six furniture stores on a single street? Furniture is a product that people typically want to see (and poke and squish) before purchasing. As a result, customers might be drawn to a neighborhood where they can quickly and easily comparison shop before making a decision—instead of driving an hour out of town for a single store. Businesses that easily reach capacity (like bars and restaurants) or that benefit from lots of foot traffic (like retail stores) also often do better in clusters. 6. Check Your Location’s Safety and Accessibility  The safety and functionality of your space is essential for customers and employees. Finding out the real issues with an area takes some digging though. You’ll want to hire safety inspectors to check the property for any concerns (much like you would when buying a home). You’ll also need to spend some time in the area. Try to pay attention to any inconveniences when you visit the location yourself. Is it hard to find parking? Maybe it’s hard to find the building—can you see it from the street? Is there a good place for signage? Is the parking lot well lit? What’s that weird smell? Talking to business neighbors can also give you insight into problems. For instance, is the street slow to get plowed in the winter? Does the area suffer from break-ins, vandalism or other crimes? 7. Research the History of Your Business Location You don’t want to have the business location “where all those murders happened.” Look into the history of any building or location you use. Places have reputations, and even if you have a great new business, a dark or even just unsuccessful history can be damaging. For instance, if your business is the most recent in a long string of failed businesses, customers may be wary, assuming you’ll disappear as quickly as those who came before. Ask your realtor and potential neighbors about previous owners or tenants, and follow up with an online search of the address. Ready to start your business? We can help. Set up your new business without the hassle—hire Northwest to form your LLC or corporation. We offer business formation and registered agent services in every state, as well as wide variety of other services, from annual report filings to free business forms and guides. LEARN MORE ABOUT STARTING YOUR BUSINESS! Read the full article

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How to Start an LLC

Start an LLC

Learn how to start your Limited Liability Company (LLC) the right way! Whether you want to learn how start your LLC yourself or hire us to form your LLC for you, you’ll find the easiest path forward with our pro tips and choices all outlined below.

3 Ways to Start Your LLC

Do It Yourself FREE LLC FORMS Free Account WE'LL WALK YOU THROUGH IT Hire Us WE'LL DO IT FOR YOU The fastest, easiest way to start your LLC? Hire us and get everything you need: registered agent service, Privacy by Default®, free mail forwarding, and the guidance of local experts. Prefer to do it on your own? Our state pages and free LLC forms give you all the info you need. Or, sign up for a free account and we’ll walk you through it.

How to Start an LLC

1. Designate a Registered Agent In order for a state to grant you the privilege to form and establish a business (and begin the process of separating your personal identity with your LLC’s separate and distinct identity), the state wants to be sure that your business can be contacted by anyone regarding importance communications, such as legal notices or service of process. To do that, you will need to identify and list your registered agent and office in your formation paperwork. Because of the time sensitive nature of several communications delivered to a registered agent, it is important that you select a registered agent whom you can trust to get you vital communications in a prompt and timely manner. Your registered agent must be regularly available to accept your LLC’s state and legal mail at a physical location in the state (a registered office). This means that if you opt to be your own registered agent, your name and home or office address will become part of your LLC’s permanent public record. Hiring a registered agent service can help you keep your personal information more private. Find everything you need to know about Registered Agent Service for your LLC.

2. Name your LLC Before you can form an LLC, you’ll need to decide on your company name—and make sure it’s not already taken. Fortunately, every state has an online database where you can search for available names. When choosing a name, you’ll also need to avoid restricted words or phrases and include a business entity identifier, such as “L.L.C.,” “LLC,” or “Limited Liability Company.” Check if your company name is available with a Free Business Name Search.

3. Submit LLC Articles of Organization Now that you’ve made the big decisions, it’s time to file the LLC state form, typically called “Articles of Organization.” In most states, LLC formation documents are processed by the Secretary of State. Requirements vary, but at minimum, you’ll generally need to include your company name, your registered agent, and a signature. We offer a free template for your LLC Articles of Organization.

4. Get an EIN After starting an LLC, you’ll likely need a federal tax ID from the IRS. This Federal Employer Identification Number (known as a FEIN or EIN) is much like a social security number for your LLC. Every LLC that will pay taxes or hire employees needs an EIN. Also, an EIN is another indicator courts will look to when determining whether a distinct LLC identity exists separately from yourself. Apply for an EIN with the IRS by filing Form SS-4. Applying online on the IRS website typically takes just a few minutes. Everything you need to know about getting an EIN.

5. Write an LLC Operating Agreement Your operating agreement is the governing document of your LLC. How the LLC distributes its profits and losses, who owns what percentage of the company, how management structure is defined, everything—it’s all in the operating agreement. Your operating agreement is an internal document, so you don’t need to file it with any state agency. However, it’s not something you want to be operating an LLC without. We have free templates for your LLC Operating Agreement.

6. Open a Bank Account To maintain your new LLC’s limited liability, you’ll need to keep your personal assets separate from business assets—so you’ll want to open a business bank account. Again, this is another factor courts will look at to determine whether to respect your LLC’s separate identity, or whether to disregard and allow liability to attach to you (and your assets) personally. The more you can show a separation between yourself and your LLC, the better! Opening an account typically requires a few key business documents: your Articles of Organization, operating agreement and EIN. Depending on the bank—and how clearly powers are defined in your articles and agreement—you may also need an LLC resolution to open a bank account. Make sure you have everything you need. We offer a free LLC resolution to open an LLC Bank Account.

7. Fund the LLC Your business bank account doesn’t do much good empty—your new LLC needs to be funded with capital contributions. Let’s say your business needs $10,000 to start. Each member would pony up a portion of that $10K from their personal money or assets to put into the new business account. In exchange, members receive a proportionate percentage of membership interest. You can change the percentages at any time if people want to contribute more later on. Need to document all this money changing hands? We offer free LLC Forms, including capital contribution agreements and membership certificates.

8. File State Reports & Taxes After you form an LLC, your state may require you to update or confirm your company information with a business renewal or report, such as an annual or biennial report. Occasionally, these renewals or reports are combined with other state requirements. For instance, Arkansas pairs its annual report with an annual franchise tax. Some states, like Washington and Nevada also require LLCs to file an initial report. This is a report due upon or shortly after starting your business. And of course, states have their own LLC tax requirements, from informational filings to franchise taxes.

Why Have a Registered Agent Form Your LLC?

Professionals hire registered agent services like Northwest Registered Agent to form their LLCs — but why? Logistics Pros want their LLCs formed fast and they don’t want to pay extra for speed and competence. As a registered agent, we have offices in every state. It’s our job to know the fastest filing methods in every state. We’re on a first name basis with many of the people who work in every state’s Corporation Division. When you hire us to form your LLC, you inherently leverage our operational logistics for fast, professional service. Privacy As your registered agent, our registered office is listed on your LLC’s formation documents. We never sell your data. We don’t list your personal information on filings if we don’t have to. It’s all part of our commitment to Privacy by Default® and achieving a level of privacy you can’t get when you file yourself or hire a standard filing service. Free Mail Forwarding & Business Address As part of our standard service, we include limited digital mail forwarding in every state. Plus, you can list our address as your business address. Combining business address and mail forwarding ensures an increased level of security and service unmatched in the LLC formation industry. Local Expertise Knowing the ins and outs of every state doesn’t just help us provide faster, better service—it also helps you. We’re invested in a national team of Corporate Guides®, more than 200 local business experts you can call or email to answer questions about your LLC.

How Our Service Works

There are do-it-yourselfers, and there are people who need (or just want) a helping hand. We have helpful options for starting your LLC no matter who you are:

Free Account Our free account gives you the state forms and tools you’ll need to start your LLC on your own. And, if you decide you want to hire Northwest instead, you can simply add our services inside your account. GET A FREE ACCOUNT LLC Formation Service We can start your LLC for $225 plus state fees. This includes a full year of registered agent service, free limited mail forwarding, operating agreement, and a client account loaded with free forms and tools. HIRE NORTHWEST Hiring us to form your LLC is fast and easy. Here’s how it works: 1. Sign Up Choose Hire Us below, answer a few basic questions about your business, and submit your payment. 2. Get Approved We’ll prepare your Articles of Organization and send them to the appropriate state agency for approval. In the meantime, you’ll have immediate access to your online account, where you can find useful state forms, pre-populated with your business information. 3. It’s Official Once the state approves your filing, we notify you that your LLC has been legally formed. You can now take any necessary next steps, like getting an EIN and opening a bank account. GET A FREE ACCOUNT HIRE US

LLC FAQ

What is an LLC? An LLC is a business structure much like a hybrid between a partnership and a corporation. Like a partnership, an LLC has the flexibility regarding management, taxes, and certain operations. Like a corporation, an LLC is formed at the state level, has its own separate legal identity, and has liability which is limited to the assets owned or controlled by the LLC. This means that the debts and assets of the business belong to the LLC, not you. So if the business is sued, damages are usually limited to the LLC’s assets (not your house or car). When it comes to taxes, LLCs are typically taxed like partnerships or sole proprietorships (but can elect to be taxed like a C or S corporation). LLCs can also self-manage, much like a partnership (but can choose to appoint managers to operate more like a corporation). What’s the difference between an LLC and a corporation? The major differences between an LLC and a corporation boil down to ownership, management, and taxes. LLCs are owned by members. Members can manage directly or appoint managers, giving LLCs the flexibility of operating like partnerships or corporations. Corporations (except for non-stock corporations like nonprofits) are owned by shareholders. Shareholders elect a board of directors to make business decisions. The board of directors appoints officers to execute those decisions. When it comes to taxes, LLCs are taxed as partnerships unless they choose to be taxed as S-corps or C-corps. Corporations are taxed as C-corps unless they choose to be taxed as S-corps. Corporations can’t be taxed as partnerships, meaning LLCs have greater tax flexibility. How much does it cost to start an LLC? Typically around $100. Each state sets its own fees to file LLC articles of organization. This tends to be flat filing fee, ranging from $40 (Kentucky) to $500 (Massachusetts). Tennessee, however, bases their LLC formation fee on how many members your business has, so their fee can be anywhere from $300 to $3,000. At Northwest, we can form your LLC for just $225 plus state fees, a total that includes one year of registered agent service. Can a sole proprietor be an LLC? No, but a sole proprietor can become an LLC. A sole properietorship and an LLC are two different kinds of business structures. If you’re a solo business owner that has never registered with the state to form a business entity, you have a sole proprietorship. A sole proprietor can easily become an LLC by filing articles of organization with the state. An LLC typically has increased reporting requirements but receives benefits that are out-of-reach to sole proprietors, such as limited liability and tax flexibility. Can an LLC be an S-corp? Yes, an LLC can be an S-corp. An LLC is a business entity created by filing articles of organization with the state. An S-corp is simply an IRS tax classification that LLCs (and corporations) can choose if they meet the requirements. In many cases, an S-corp election can save LLCs money on employment taxes. Can an LLC help me live more privately? Yes, forming an LLC can help you reduce your public footprint. Living publicly—and giving away your data to be sold and resold—has been normalized. It’s possible to take back control of your own information in a number of ways, and in some cases, forming an LLC can help. Note that this will require taking certain steps, like hiring a registered agent service, to keep your personal information off public filings. What are the different types of LLCs? There are several different types of LLCs that can vary depending on how you set up your business, and the state and industry in which you operate. Some common types of LLCs include: - Single Member LLC (with only one owner) - Professional LLCs (for state-licensed professions, like doctors and lawyers) - Series LLC (for LLCs needing separate liability protection for different parts of their business) There are also LLCs taxed as S-corps and C-corps. LLC management is another way to categorize LLCs. There are member-managed LLCs and manager-managed LLCs. It’s even possible to form a nonprofit LLC in a handful of states. Do LLCs pay taxes? Yes and no. For an LLC with default tax classification, the company itself doesn’t pay federal taxes. Instead, profits are distributed to owners (members) who then report those earnings on their personal filings. This is known as pass-through taxation. However, LLCs might be required to pay various state taxes, such as franchise taxes. LLCs can also elect to be taxed as corporations—in which case, the LLC itself may owe taxes. Can you file an LLC yourself? Yes, you can file articles to form your LLC yourself. However, there are a few downsides to doing so. First, any information you list in your articles becomes a part of the public record—permanently. There’s no going back and erasing your home address or other personal info once it’s out there. When you file yourself, you are the “organizer” of your LLC and usually need to list your name and address. In most states, you can avoid putting your personal address (and in a few states, even your name) on this public doc by hiring a service like Read the full article

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How to Start a Corporation

Start a Corporation

Everything You Need to Know About Incorporation Learn how to start your corporation the right way! Want to form your corporation yourself? Or hire us to incorporate for you? No matter which path you choose, you’ll find the easiest way forward with our pro tips, tools and resources below.

3 Ways to Incorporate

Do It Yourself FREE CORPORATION FORMS Free Account WE'LL WALK YOU THROUGH IT Hire Us WE'LL DO IT FOR YOU The fastest, easiest way to incorporate? Hire us. We form your corporation and give you registered agent service, Privacy by Default®, free mail forwarding, and the guidance of local experts. Prefer to incorporate on your own? Our state pages and free corporation forms give you all the info you need. Or, sign up for a free account and we’ll walk you through it.

How to Incorporate a Business

1. Designate a Registered Agent You”ll list your registered agent and office in your incorporation paperwork. Your registered agent must be regularly available to accept your corporation’s state and legal mail at a physical location in the state (a registered office). This means that if you opt to be your own registered agent, your name and home or office address will become part of your corporation’s permanent public record. Hiring a registered agent service can help you keep your personal information more private. Find everything you need to know about Registered Agent Service for your corporation.

2. Name Your Corporation Your corporation will need a name that is distinct from other business entities registered with the state. Fortunately, every state has an online database you can search to find an available name. The available name will belong to your corporation once the state has approved the Articles of Incorporation. You are not required to reserve a name prior to filing, unless you’re forming a corporation in Alabama. Check the availability of your corporation’s name with a Free Business Name Search.

3. Submit Articles of Incorporation To officially create your corporation, you need to complete and submit a document (most commonly known as “Articles of Incorporation”) with the state. Each state has a unique set of requirements for Articles of Incorporation, but generally your articles will need to include your registered agent information, corporation’s name, share information and signature. We offer a free template for creating Articles of Incorporation.

4. Get an EIN Your corporation will need to get an employer identification number (FEIN or EIN) for its federal tax filings, and you’ll likely need an EIN to open a corporate bank account, apply for state licenses and permits, and more generally to establish your corporation’s credibility with potential clients and vendors. You can apply for an EIN by filing Form SS-4 with the IRS online, by fax, or by mail. Everything you need to know about getting an EIN.

5. Write Corporate Bylaws Corporate bylaws are the documents that lay out how your corporation functions. Your corporation’s bylaws should answer such questions as how long a director’s tenure lasts, which responsibilities belong to each officer, what restrictions are placed on shareholders’ voting rights, and any other details needed to effectively manage your corporation. You typically won’t file your corporate bylaws with the state, but they remain your corporation’s most important internal document. We have free templates for your Bylaws.

6. Hold an Organizational Meeting An organizational meeting is the first official meeting of your new corporation (and typically required by state statutes). At this time, your business adopts bylaws, issues stock, appoints officers and conducts any other setup required for your corporation. You’ll need to record meeting minutes to document actions taken and keep them with your corporate records. Need documents for meetings? We offer free Corporate Forms for everything from resolutions to meeting minutes.

7. Open a Bank Account Once you incorporate your business at the state level, your corporation becomes a distinct legal entity in need of its own business bank account to keep its income and assets completely separate from those of its shareholders, officers, and directors. Opening a corporate bank account usually requires a few key documents: your Articles of Incorporation, corporate bylaws, and EIN. Some banks will also want a board-approved resolution authorizing someone from your corporation to start a bank account in the organization’s name. Make sure you have all the documents you need. We offer a free board resolution to open a Corporate Bank Account.

8. File State Reports & Taxes After you form your corporation, you will need to file annual, biennial, or periodic reports (depending on your state’s requirements). There reports keep your corporation’s information updated on the state’s records. Some states also require corporations to file an initial report shortly after you incorporate your business. These reports are usually pretty simple, but, for whatever reason, thousands of companies neglect to submit them every year and fall out of good standing with their states. Corporations also typically file federal corporate income taxes—and many states also have a state-level corporate taxes, and potentially franchise taxes or other filing requirements. Learn more about Business Renewals & Reports.

Why Have a Registered Agent Form Your Corporation?

You have choices when it comes to how you incorporate. So why do professionals choose to hire registered agent services like Northwest Registered Agent to form their corporations? Logistics Time is money—and professionals know where to look for speed and competence without extra fees. At Northwest, we have registered offices in every state. We know the people in each state’s Corporate Division. We know the fastest filing methods. And when you hire us to incorporate, we use our knowledge to provide you fast, professional service. Privacy As your registered agent, we’re able to list our registered office throughout your formation documents—as your principal office, directors’ business address, etc. We don’t list your personal info on filings if we don’t have to. Why? At Northwest, we practice Privacy by Default®, providing you a level of privacy you can’t get filing yourself or with a standard filing service. Free Mail Forwarding & Business Address We already accept your legal mail—so why not take it a step further? In every state, we include limited digital mail forwarding for your regular mail too. You can list our address as your business address, as well. With both mail forwarding and a business address included, you get a level of security unmatched in the incorporation industry. Local Expertise We know the ins and outs of each state—and we use this knowledge to help you when you need it most. Our team of Corporate Guides® has over 200 local business experts dedicated to helping you. You can call or email us for all your toughest business questions.

How Our Service Works

There are do-it-yourselfers, and there are people who need (or just want) a helping hand. We have helpful options for starting your corporation no matter who you are:

Free Account Our free account gives you the state forms and tools you’ll need to start your corporation on your own. And, if you decide you want to hire Northwest instead, you can simply add our services inside your account. GET A FREE ACCOUNT Incorporation Service We can start your corporation for $225 plus state fees. This includes a full year of registered agent service, free limited mail forwarding, bylaws, and a client account loaded with free forms and tools. HIRE NORTHWEST Hiring us is just a few easy steps. Here’s how it works: 1. Sign Up Choose Hire Us below, answer a few basic questions about your corporation, and submit your payment. 2. Get Approved We prepare and file your Articles of Incorporation and send them to the appropriate state agency for approval. In the meantime, you’ll have immediate access to your online account, where you can find useful state forms, pre-populated with your business information. 3. It’s Official As soon as the state approves the filing, we notify you that your corporation has been legally formed. Now you can take next steps, like holding your first meeting and opening a bank account. GET A FREE ACCOUNT HIRE US

Corporation FAQ

What is a corporation? A corporation is a business with a legal existence separate from its owners or members. If properly maintained, a corporation can conduct business in its own name and has many of the rights and obligations of a natural person, including the ability to enter into contracts, sue and be sued, hold assets, and pay taxes in its own name. Corporations can be formed for for-profit purposes or nonprofit purposes (or a combination of the two, as with a benefit corporation), but the majority of corporations exist mainly to benefit and enrich their shareholders. The corporation’s independent legal status ensures that shareholders’ personal assets, apart from their investments in company stock, aren’t usually on the line if the corporation gets sued or can’t pay its debts. What are the different types of corporations? There are many different types of corporations. In addition to your standard, for-profit stock corporation, below are a few of the most common corporation types: - Professional corporation: State-licensed professions, like doctors and lawyers typically must form a professional corporation. - Nonprofit corporation: Businesses that have a purpose other than profit (such as public, mutual or religious benefit) can form a nonprofit and may be able to qualify for tax-exempt status. - Benefit corporation: Kind of a “light” nonprofit. Benefit corporations don’t qualify for tax-exempt status and can make a profit, but they have an educational, environmental or other socially beneficial purpose in addition to profit. There are also private vs public corporations. Most corporations are private. Taking a corporation public (so that it can be listed on national stock exchanges) is a difficult and expensive journey, but it has the potential to pay off in a big way. If you’ve heard the terms “S corp” or “C corp,” note that these aren’t actually kinds of business entities. These are different designations the IRS uses to classify how a business is taxed. Who owns a corporation? Corporations are owned by their shareholders and usually managed by a board of directors. The shareholders or the initial incorporators elect the directors. The directors then elect officers like a President, Vice President, CEO, CFO, Secretary, or Treasurer, all of whom have fiduciary duties to their shareholders, although a single person can also serve all of the roles in a corporation. Shareholders have the right to vote in the corporate meetings because of the shares they own for investing their money in the corporation, but the votes of most individual shareholders usually have very little power and influence in publicly-traded corporations because of the vast number of corporate shares issued and owned. Private corporations, however, typically have only a few shareholders, and the corporation’s founder usually holds 51% of the shares to maintain control of the company. How are corporations taxed? By default, corporations are classified by the IRS as C corporations and taxed separately from their owners, which results in the so-called “double tax”—probably the least popular feature of the corporate business structure. The double tax is an informal term for how C corporations pay taxes on their profits before distributing those profits to shareholders. The shareholders then pay taxes on that money again as personal investment income. Qualifying corporations, however, can elect to get taxed as S corporations (an option that is also available for LLCs). With the S corp tax election, a corporation’s profits pass through the company, get divided up among its shareholders, and get taxed only once as the shareholders’ investment income. What is a corporate resolution? A corporate resolution is an internal record showing the corporation’s approval of a major business decision. For example, if your corporation enters into a contract or buys property, this action should be voted on, approved and recorded in the corporate record book. While resolutions are internal, they can be audited by the IRS or state agencies, so it’s important to maintain proper records. At Northwest we offer a variety of free resolution templates and other free Corporate Forms. What is a corporate officer? Corporate officers conduct the day-to-day business of a corporation and put the actions and policies established by the board of directors into action. Below are the most common corporate officer positions: - CEO or President: This is the person in charge, and they oversee the daily operations of the company. They are also responsible for delegating tasks to other officers and even employees. They can be responsible for signing important documents such as major contracts, legal documents, and stock certificates. - Treasurer or Chief Financial Officer: This person is essentially in charge of funds within the business. If you operate a smaller corporation, then this person deals with all financial aspects including payroll and billing. In a larger corporation, the CFO would do more oversight of financial operations within the company. - Secretary: The secretary of your business keeps corporate records and prepares minutes of the board meetings as well as shareholder meetings. How much does it cost to start up a corporation? Around $100 on average. States set their own incorporation fees. Most states have a flat base fee ranging from $45 (Arkansas online filings) to $300 (Texas). However, some jurisdictions (DC, DE, MA, MI, MO, NE, OH, OK, RI, and VA) have a fee scale that depends on factors such as number of shares or authorized capital. In DC, for instance, filing fees range between $220 and $1650, depending on the value of authorized capital. Read the full article

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How to Get a Business License

How to Get a Business License

A business license gives your business permission to offer a designated service or product or to operate in a certain location. Most businesses will need one or more business licenses before they can begin operating. Getting a business license typically involves filing an application and paying a fee. Check out our guide below to learn more about what licenses your business may need and how to get them. Getting a Business License - What is a business license? - Business license vs registration - What is a professional license? - Where do I get a business license? - What federal agencies issue licenses? - What states require business licenses? - Do I need a local business license? - What do I need for a business license? - How much is a business license?

Getting a Business License

1. What is a business license? A business license is a certificate that conveys certain rights to a business. Some business licenses give your company the right to engage in business in a specific area. For example, all businesses operating in Atlanta, Georgia are required to get a local business license in order to conduct business in the city. Other business licenses give your business the right to offer a specific product or service. Certain products (like alcohol and tobacco) and professions (like doctors and lawyers) are highly regulated and naturally require licenses. However, many businesses are surprised to find that they may need special licenses even for everyday businesses. For instance, running a bowling alley in Hartford, Connecticut requires a specific business license. So does operating a bicycle tour business in Maui County, Hawaii. 2. Is a business registration the same as a business license? No. This confusion occurs because many people casually refer to registering a business as “getting a business license.” However, business registration is different. Business registration involves filing formation documents (commonly called “Articles of Incorporation” or Articles of Organization)” with the state to legally incorporate your business. While we no longer provide business license services, Northwest specialize in business registrations. You can hire us to file your articles and form a new LLC or corporation. We also offer registered agent service, annual report filing service and more. 3. What is a professional license? A professional license is documentation that shows you are qualified to perform a highly-skilled service. Some common jobs that require professional licenses include accountants, architects, dentists, doctors, electricians, engineers, lawyers, pharmacists, plumbers, real estate appraisers and veterinarians. Professional licenses are usually issued by the state board for that profession, such as a state bar association or state medical board. Get Started With Northwest Registered Agent 4. Where do I get a business license? Unfortunately, there’s no “one stop shop” where you can get all your business licenses. There are several federal agencies that issue business licenses, along with numerous state and local agencies that oversee a variety of other business licenses. Because all of these agencies function separately, you have to get each license from each specific agency. Below, we’ve listed information on federal agencies, state agencies and local business licenses. 5. What federal agencies issue business licenses? The federal government has roughly a dozen agencies that issue business licenses, such as the Alcohol and Tobacco Tax and Trade Bureau (TBB) and the National Oceanic and Atmospheric Administration Fisheries Service (NOAA). The major issuing agencies are listed below, along with the products or services that require federal licenses or permits: - TBB: alcohol or tobacco (retail sale, wholesale, import or manufacturing) - Bureau of Alcohol Tobacco, Firearms and Explosives: firearms, explosives, or ammunition - NOAA: commercial fishery - US Fish and Wildlife Service: wildlife products or activities - Dept of Agriculture: plants, animals, biotechnology and other biological material - Federal Aviation Administration: aircraft operation, transport or maintenance - Bureau of Safety and Environmental Enforcement: drilling or mining - Dept of Transportation: large-vehicle transportation - Federal Maritime Commission: sea transport - FCC: broadcasting - Nuclear Regulatory Commission: nuclear energy 6. What states require a business license? All states have some form of state-level licensing (mostly professional licensing). However, only a few states (and DC) require mandatory, state-issued business licenses for all businesses: - Alaska: Division of Corporations, Business and Professional Licensing - Delaware: Delaware Department of Revenue (for businesses operating in the state) - DC: Department of Licensing and Consumer Protection – Business Licensing Division - Hawaii: Hawaii Department of Taxation - Nevada: Nevada Secretary of State - Washington: State of Washington Business Licensing Service - West Virginia: West Virginia State Tax Department Alabama, California, Florida, and Utah each require all businesses registering or operating in the state to get a business license as well, but the licenses are issued on the city or county level. Professional licenses are also issued at the state level, usually by the state board for your particular profession. For instance, if you’re a CPA in Minnesota, your license would be issued by the Minnesota State Board of Accountancy. States agencies can license other products and activities as well. Common state-level licenses include state liquor licenses and film production permits. The state’s Department of Licensing usually maintains a list of required state-level licenses. Our Business Name Search page includes links to each state’s Department of Licensing. 7. Do I need a city or county business license? Many, many businesses will need a local business license. However, every city and county does things their own way, making navigating local licenses somewhat tedious and difficult. Below are a few tips to get started: - Visit your city and county’s websites: Look for a section on licenses, permits, or business in general. Be sure to check both your city AND county—while it’s not common, businesses are occasionally required to have both city and county licenses. - Call or visit the city or county clerk’s office: If your area doesn’t have a comprehensive website, the next step is to talk someone who can point you in the right direction. - Check in with the local tax office: In many areas, business licenses are closely tied together with local taxes (some areas even refer to the license as a “business license tax”). 8. What do I need to get a business license? Because licenses are managed by many different agencies, there’s no single list of information or documents you’ll need to provide. However, we’ve included many of the most common application requirements for general business licenses below: - business name and contact information - business location (and whether or not your business is conducted out of your home) - type of entity (sole proprietor, partnership, LLC, corporation, etc.) - date and place of incorporation - date your company began operating in the area - ID number (such as an EIN, state business ID, state tax ID or personal social security number) - names and contact info for directors, officers, members or managers - number of employees - fee Note that federal and professional licenses will require significantly more information. For instance, if you’re seeking a license from the TBB to import tobacco, you’ll need a copy of your lease agreement or proof of property ownership, a letter of intent from your foreign supplier, and documentation of each source of funding. 9. How much is a business license? One of the most common questions new business owners have is how much a business license will cost. The range is enormous, anywhere from $0 to thousands of dollars. To complicate matters further, licenses aren’t always a flat fee. In many cases, the license fee is variable, depending on factors such as: - number of employees - size of property - how many units or properties you have (for apartments or other rentals) - how many seats you have (for a restaurant) - gross receipts or income For example, if you have an LLC or corporation in Branson, Missouri, your business license fee depends on how many employees you estimate you’ll have in the next year. Fewer than 2 employees will set you back $50 a year, while over 50 employees will cost $300 a year. Have a skating rink in Tacoma, WA? Your initial local business license is $150 if your space is under 2000 square feet (but doubles to $300 for locations over 6000 square feet). Restaurant in DC? Every other year, pay just under $600 if you have fewer than 10 seats and close to $1000 for over 100 seats. These are just a few examples of how much business license costs vary. As a general rule of thumb, more expensive areas—think Las Vegas and DC—tend to have more expensive business license costs. Get Started With Northwest Registered Agent Read the full article

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How to Get an EIN Number

How to Get an EIN Number

An employer identification number (EIN) is like a social security number for your business. You can apply for an EIN by filing an Application For Employer Identification Number (Form SS-4) with the Internal Revenue Service (IRS). The form can be submitted online, by mail, telephone, or fax. There is no filing fee. Below, you’ll find everything you need to know about EINs—including what they are, who needs one and answers to frequently asked questions. Get Started With Northwest Registered Agent Steps to Complete Your EIN Application: - Enter contact information - Answer LLC questions - Identify entity type - State the reason for applying - Provide accounting/tax details - Sign and send

What is an EIN?

An EIN (also called a Federal Employment Identification Number) is a nine-digit tax ID that the IRS assigns to your business for tax purposes. Your business’s EIN identifies your company when filing business tax returns—the same way your Social Security Number (SSN) identifies you. Starting a business but would rather not go through the steps below? You can opt to add EIN service when you hire us to form your LLC or corporation.

Do I need an EIN?

Probably. Businesses that hire employees or are taxed as a corporation will need to get an EIN. Here’s a list of other situations where you’d be required to get an EIN: - Your business is (or is taxed as) a corporation or partnership - You have a self-employment retirement plan - You pay excise, employment, or alcohol, tobacco, and firearm taxes - You withhold income taxes (besides wages) that are paid to a non-resident alien - You are involved in any of the following: - Trusts (other than revocable trusts owned by the grantor), IRAs, and Exempt Organization Business Income Tax Returns - Estates - Real estate mortgage investment conduits - Non-profits - Farmer cooperatives - Plan administrators EINs are also required for opening a business bank account and some state-level filings. For example, the Alabama Business Privilege Tax and Arkansas Franchise Tax need an EIN to file. If you’re a sole proprietor, you likely won’t need an EIN unless you hire employees or file any excise or pension taxes. However, without an EIN, you’ll use your social security number as your taxpayer ID. So, getting an EIN can be worthwhile—even if you aren’t required to get one.

Steps to Complete Your EIN Application

1. Enter Contact Information To obtain an EIN, you’ll need to file an Application for Employer Identification Number (Form SS-4) with the IRS. Here’s a complete list of everything you’ll need to include: - The legal name of the LLC or corporation (box 1). This must be the exact name listed on your business formation papers. - Trade name (box 2). If you have a trade name (or DBA), you must list that name here. - Executor, administrator, or trustee (box 3, optional). If applicable, enter the first, middle, and last name of the person designated to accept tax documents on behalf of your business. Typically, this would be Certified Public Accountant (CPA), corporate accountant, or attorney—not a registered agent. - Mailing address (boxes 4a-4b). This can be a PO box and located outside the US. If you completed line 3, then enter the address of that individual. - Street address (boxes 5a-5b). Enter your business’s physical address—PO boxes are not allowed. This address can be located outside the US. - County and state (box 6). List the county and state where your business is located. - Responsible party (boxes 7a-7b). This is the owner or person who has full control over the business—typically a member or principal officer. The responsible party must be a person, not an entity. 2. Answer LLC Questions - LLC questions (boxes 8a-8b). If your entity is an LLC, check ‘yes’ and indicate the number of members it has. 3. Identify Entity Type - Type of entity (boxes 9a-9b). This section is really about your entity’s tax classification. For LLCs that are taxed as corporations, follow the corporation directions below. - Single-member LLCs: Select “other” and write “disregarded entity- sole proprietorship” in the space provided. - Multi-member LLCs: Select “partnership.” - Corporations: Select “corporation” and write either “1120” for c corps OR “1120-S” for s corps. Also, note that a non-profit is a corporation. It’s just a corporation that has elected to be “not for profit.” If your entity is a corporation, you’ll need to list the state or foreign country where you incorporated your business. 4. State the Reason for Applying - Reason for applying (box 10). Indicate the reason you’re applying for an EIN. HINT: most choose “started a new business.” You’ll also need to enter the type of business you formed—such as “restaurant.” 5. Provide Accounting and Tax Details This section is focused on helping the IRS understand how your business should be taxed and the types of returns your business will file. - Date of formation (box 11). Enter the month, day, and year you started your business. - End of the accounting year (box 12). For businesses operating on a regular calendar year, this will be December. - Expected number of employees (box 13). Indicate the number of employees your business expects to have in the next year. - Employer tax return (box 14). This section determines how often you’ll submit employer returns and which return you’ll be required to submit. If you think your employment tax liability will be less than $1,000 for the year, you may be eligible to file Form 944 annually instead of filing Form 941 quarterly. - First wages paid (box 15). Enter the month, day, and year you paid the first wages. If you don’t have employees, write “N/A.” - Primary business activity (box 16). Indicate your primary business activity such as real estate, manufacturing, or retail. - Merchandise, services, or products provided (box 17). This section asks for further specifications on the type of products or services your business sells or provides. For instance, if you wrote “restaurant” in box 10, you could write “health-conscious meals to go” in this section. - Previous EIN (box 18). Indicate whether your business has received an EIN before. If yes, include the previous EIN in the space provided. 6. Sign and Send - Contact person (box 19, optional). If you want to designate a third party to receive your EIN and answer questions regarding your application, you may include that person’s information here. Otherwise, leave it blank. - Applicant signature (box 20). Include the applicant’s signature and printed name. Once you’ve completed the form, you can file online, by mail, telephone, or fax—depending on where you currently live or conduct business. If you have a US residential or business address, you may apply online, by mail, or fax. International applicants must file by telephone, mail, or fax. Online and telephone submissions will be processed immediately. Fax filings will take four business days, and mailed submissions will take 4 to 5 weeks. There is no filing fee.

How do I file the EIN application?

Online (US applicants only): EIN Online Application Mail or fax: Internal Revenue Service Attn: EIN Operation Cincinnati, OH 45999 Fax: (855) 641-6935 (US) or (304) 707-9471 (international) Telephone (International applicants only): (267) 941-1099

Frequently Asked Questions

How long does it take to get an EIN? It depends on how you file. The IRS will process online and telephone submissions immediately. However, fax filings will take one week to process. Mail filings will take four to five weeks. How much does it cost to get an EIN? There is no filing fee to get an EIN. Can I use my registered agent’s address? No. The EIN application specifically asks for your entity’s mailing address and (if different) street address. However, if you have a designated person who accepts tax documents on behalf of your business, you may enter their information instead of your business address. A designated person is typically a certified public accountant, corporate accountant, or attorney—not your registered agent. What do I put for fiscal year-end? Your fiscal year-end is the last month of your company’s accounting year. For businesses using a standard calendar, this will be December. How soon can I use my EIN? You can use your EIN immediately for most activities, including: - establishing a business bank account - obtaining a business license - mailing a tax return However, you will likely have to wait up to two weeks before you can file taxes online. Is an EIN the same as an ITIN (individual taxpayer identification number)? No. An ITIN is a tax identification number assigned to non-US residents, their spouses, and dependents without a Social Security Number. However, they are used for the same purpose. Need other forms for your business, such as operating agreements or bylaws? Click the button below for a complete list of our free forms. FREE FORMS Read the full article

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How to Prepare for the Next Bitcoin Bull Market

How to Prepare for the Next Bitcoin Bull Market: 10 Tips You Must Know

The next Bitcoin bull market could be just as surprising as the last one and staying prepared is critical. Here are 10 tips you absolutely must know. Bitcoin bull markets are typically categorized by tremendous price swings, and even though the direction is up, corrections also take place. During the last Bitcoin bull market that took place in 2021, the BTC price reached an all-time high just shy of $70K. It started the year trading at around $20K, exploded above $60K on a couple of different occasions, retraced by almost 50% toward the middle of the year, and shot up once again to almost touch $70K in November.

Source: CoinGecko The previous bull market was back in 2017 and the beginning of 2018. Bitcoin had reached a high of around $20,000, but its chart looked a lot differently:

Source: CoinGecko As you can see, each cycle has its own intricacies, and playing it correctly could make or break your bankroll. Riding an uptrend can be a lot more challenging than just holding on to your assets. There’s knowledge involved as to when is the right moment to sell or reposition yourself to bets preserve your gains. The last thing you want is to be left holding a bag of an altcoin that’s down 99% since its all-time high and pray that it will go there once again. With this in mind, we’ve prepared 10 tips that everyone should know, and they should help you to better navigate the next Bitcoin bull market.

10 Tips For the Next Bitcoin Bull Market

Educate Yourself Regardless of what you invest in, gaining sound knowledge of its underlying merits is step number one in any investor’s playbook. You absolutely must know what you invest in, and the same goes for Bitcoin (or any altcoin, for that matter). Familiarize yourself with Bitcoin’s fundamentals, such as its total limited supply, utility, and adoption rates. You can also analyze historical price patterns, market cycles, and factors that tend to influence Bitcoin’s price. This knowledge will definitely help you make more informed decisions. A great place to start learning more about the BTC fundamentals is our section called Bitcoin for Beginners. It contains a lot of helpful information, such as who created Bitcoin, who is eligible to create an account, how to store Bitcoin, is it safe, and much more.

Research and Analyze Once you have the fundamentals down, it’s important to stay informed about both Bitcoin and the broader cryptocurrency market. Think about it this way – if you’re investing in land, you will undoubtedly analyze the factors that could impact it. These include the condition of the land, what you can grow on it, but also – who your neighbors are, the general area where it’s located, and so forth. The same goes for investing in Bitcoin. You should stay informed about what’s going on in the market. You can read books, follow reputable news sources, join online communities, and in general – do a ton of other things that will help you learn about the technology. In turn, this will help you anticipate market trends and potential catalysts, which can maximize the return on your investment in Bitcoin. Define Your Investment Goals What are your plans for the money invested in Bitcoin? When do you want to cash out? Can you afford to lose it? Determining your investment objectives is paramount because it will also impact other important decisions, such as how much risk you’re willing to tolerate and the time horizon. Despite being the largest and, supposedly, most secure cryptocurrency, it’s still considered very risky relative to investments in traditional finance. Please refer to the charts above – the BTC price went on to gain 300% and then lost 50% of it in a matter of less than six months. This tumultuous performance can be hard to stomach, so being aware of it in advance and being able to tolerate it is something you should consider. Develop an Investment Strategy Once you have the above all clear, you should be more or less ready to develop an overall investment strategy. There are multiple ways to invest in Bitcoin. One of the more popular strategies is the so-called Dollar Cost Average (DCA). We have a dedicated guide and a video explainer of DCA that you can find here. In general, though, it represents a way to buy Bitcoin in similar increments over a similar period of time. For example – you can buy $100 in BTC every month. The benefits of it are that over a long-enough time period, you get the best average price. There are also other strategies to invest in Bitcoin. For instance, the so-called value averaging suggests adjusting your investment amounts based on market performance. E.g., you can buy more Bitcoin when there’s a bigger dip. In all cases, you must set guidelines for when to buy, hold, or sell BTC based on your own risk appetite and analysis. Set a Budget Now that you know how you will invest in Bitcoin, the next step is to set your budget – how much do you want to spend? This is incredibly personal and depends entirely on your current and projected financial situation. Setting up a budget and sticking to it will help you better track your investment and also manage your risk tolerance. The most important takeaway here, however, that is specific to investing in Bitcoin for the next bull market is to understand that BTC is a risky purchase. That said, you should never invest more than what you can afford to lose without significantly impacting your overall financial stability. Secure Your Investments Crypto scams and hacks happen regularly. Not only that – what were generally considered reliable firms (such as FTX and Celsius) have failed and left investors empty-handed and in search of reparations. Here is a breakdown of the industry’s most shocking events. You’ll surely notice that some of them are related to platforms being hacked or having failed. Make sure to use reputable cryptocurrency exchanges or platforms to buy Bitcoin. Once you’ve bought, make sure to move your stash off-chain and keep it in a hardware wallet. Diversify Your Portfolio As you might have probably noticed, Bitcoin bull runs also result in a massive expansion of the broader market capitalization. For reference, it reached over $3 trillion in 2021. This means that other cryptocurrencies are also benefitting from the Bitcoin price increase. It’s worth considering having your investment diversified by including other promising cryptocurrencies or even blockchain-related assets. Keep in mind, though, that if Bitcoin is volatile and risky, other cryptocurrencies are even more volatile and risky. However, a properly diversified portfolio can spread your risk and even capture additional opportunities.

Practice Risk Management The crux of this guide is to help you practice better risk management. The cryptocurrency market is one that’s characterized by volatility, and it is very easy to get caught up in traders posting tremendous ROI screenshots. Approach these with tremendous caution. There will always be missed opportunities, no matter how much time and effort you spend or how well-educated you are. However, there will also be new opportunities. Do not FOMO, do not panic sell, and do not let your emotions get the better of you. Employ a risk-management strategy and stick to it. Determine your exit strategies, use stop-loss orders (if it’s a shorter-term leveraged investment) to limit your potential losses, and make sure you follow your rules. Stay Disciplined Staying disciplined is just as important as making the decision to invest in Bitcoin. It’s important to remain committed to your strategy and not be swayed by any type of short-term market hype or the fear of missing out (FOMO). Remember that emotional decisions probably result in impulsive actions and most commonly lead to potential losses. Stay Informed and Adapt Remain involved in the industry, at least to some extent. Keep up with the latest news, market trends, and regulatory developments in the broader cryptocurrency space. Make sure to adapt your strategy, if it’s necessary, based on new information or changes in the broader market landscape.

Conclusion

Investing in Bitcoin should be regarded as investing in multiple other asset classes, but it has its intricacies and specifics. The sheer volatility of the BTC price makes it a lot tougher to stomach overnight swings in your portfolio, but if you have your sight set on the bigger picture, these become easier to go through. One sign that you’re overinvested is that you’re constantly on your phone, checking the prices every hour. If done correctly, investing in Bitcoin can be stress-free, and all of the above tips are aimed at exactly that. Read the full article

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Ways Pi Network’s Open Mainnet Will Benefits Everyday People

Top 5 Ways Pi Network’s Open Mainnet Will Benefits Everyday People

The advent of blockchain technology has revolutionized the world of finance and decentralized systems. One project that has gained significant attention in recent years is the Pi Network. With its unique approach to cryptocurrency mining and a commitment to inclusion, the Pi Network aims to empower everyday people and create a more accessible digital economy. As the project prepares to launch its open mainnet, the potential benefits for individuals around the globe are becoming increasingly clear. 1. Democratizing Mining Traditionally, cryptocurrency mining has been dominated by large-scale operations that require substantial investments in hardware and energy consumption. The Pi Network, however, has designed its mining process to be accessible to anyone with a smartphone. By leveraging the power of mobile devices, the network enables individuals to contribute to the blockchain’s security and earn Pi tokens without the need for expensive equipment or excessive energy usage. 2. Redefining Digital Identity The Pi Network introduces the concept of a digital identity tied to real-world individuals, allowing users to build trust and credibility within the network. This identity system, coupled with the network’s consensus algorithm, creates a secure environment where participants can transact and interact with confidence. Through the open mainnet, everyday people will be able to leverage their digital identity to engage in a variety of activities such as e-commerce, peer-to-peer transactions, and decentralized applications. 3. Financial Inclusion One of the fundamental goals of the Pi Network is to promote financial inclusion, especially for the unbanked and underbanked populations. By providing an accessible platform for individuals to earn and transact with Pi tokens, the network offers a pathway to financial empowerment. Everyday people who previously faced barriers to traditional financial services can now participate in the digital economy, access global markets, and secure their financial future. 4. Building Trust and Community The Pi Network’s emphasis on building trust and fostering a sense of community sets it apart from many other blockchain projects. The network’s social mining model encourages individuals to invite friends and family to join, promoting organic growth and expanding the network’s reach. Through the open mainnet, everyday people will have the opportunity to connect with like-minded individuals from diverse backgrounds, share knowledge and experiences, and collectively contribute to the growth and development of the Pi ecosystem. 5. Early Adoption Benefits Being an early adopter of a blockchain network can bring significant advantages. As the Pi Network transitions to its open mainnet, early participants will have the opportunity to earn and accumulate Pi tokens, which may appreciate in value over time. This potential appreciation provides an incentive for everyday people to engage with the network and actively participate in its growth. Furthermore, by gaining familiarity with blockchain technology and decentralized systems, individuals can position themselves to take advantage of future opportunities within the broader cryptocurrency landscape. The Pi Network’s open mainnet launch holds immense promise for everyday people seeking to benefit from the opportunities presented by blockchain technology. By democratizing mining, redefining digital identity, promoting financial inclusion, fostering trust and community, and offering early adoption benefits, the Pi Network creates a platform that empowers individuals to participate in the digital economy on their own terms. As the project continues to evolve, it has the potential to reshape the way we engage with technology and redefine the relationship between individuals and financial systems. New on Pi Network, register here, start mining Pi and do KYC to secure your account. Read the full article

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How to Change Your Registered Agent

How to Change Your Registered Agent

When You Want More To change your registered agent for your LLC or corporation, you’ll need to file paperwork with the state. Below, you’ll find a general guide on how to change your registered agent that includes information about the processes, forms, and fees involved as well as helpful links to more detailed information on how to change a registered agent in any state. When you sign up for registered agent service with us, we streamline the filing process for you, submit the paperwork necessary to change your registered agent, and even pay your state filing fee.

Change Your Registered Agent

Why Do I Need a Registered Agent? A registered agent is an individual or business you appoint to receive service of process (legal notices) on your business’s behalf. Every state requires an LLC or a corporation to have a registered agent if the business operates there, though some states refer to the position by different names (such as an agent for service of process, a resident agent, or a statutory agent). A registered agent must maintain a physical location in the state, called a registered office, and the registered agent must be available at that location to receive service of process and other official state documents during normal business hours. In general, states require LLCs and corporations to appoint registered agents to keep a channel of communication open between the state and every business within its jurisdiction. Learn more about what a registered agent does or check out our handy Registered Agent FAQ. Reasons to Change Registered Agents Pretty much any qualified individual can be a registered agent, which is why business owners commonly take on the job themselves or appoint their associates, accountants, or attorneys. But these are also among the major reasons why so many businesses find themselves needing to appoint a new registered agent after being in business for several years. Here are the most common reasons why you might need to change your registered agent: 1. You appointed yourself or an associate It looks easy to be a registered agent, so why not do it yourself? As it turns out, it isn’t always easy to be available consistently at the same place during normal business hours, as a registered agent needs to be, especially while trying to run a business, hold meetings, travel, and otherwise manage your company’s day-to-day operations. So a lot of business owners start out as their own registered agents and decide, after a little while in business, that they would rather appoint someone else (or pay someone else) to bear the burden. In such cases, the business needs to change registered agents. 2. Your registered agent resigned or ended your business relationship It’s common to appoint an accountant, an attorney, or some other individual third-party to serve as the business’s registered agent. The trouble with this arrangement, however, is that an individual registered agent may resign the position at some point down the road (necessitating a change of registered agent), or the individual’s relationship with your business may come to an end. It’s unlikely that an accountant or an attorney who no longer works with your business will want to continue serving as your registered agent—a situation that, once again, requires your business to change registered agents. 3. Your business wants to expand to new states Individual registered agents can’t be in two places at once, which presents a problem if your business decides to expand to other states. Unless you originally hired a registered agent service with offices in multiple states when you started your business, you’re likely going to need to appoint a completely different registered agent for your business each time it expands to a new state, so you’ll end up with two or more registered agents to deal with. One solution? Switch now to a national registered agent service with offices in all 50 states. Unlike many individual registered agents, a national registered agent service will know the ins and outs of the change a registered agent filing process in every state and will typically provide more reliable, more cost-effective services than most individuals registered agents can provide. How to Change Registered Agents 1. Choose Your New Registered Agent Your first step is to decide on your new registered agent. You can find a list of available registered agent services on most secretary of state websites, or you can consult our guide to Registered Agent Market Share to get a sense for the number of providers available and their size. At Northwest, we have offices in all 50 states, plus the District of Columbia and Puerto Rico, and we offer registered agent service for $125 a year. That’s a price that never changes, and it includes a secure online account, access to our expert Corporate Guides®, a host of useful online filing tools, and stable, transparent prices. And when you hire Northwest, WE serve as your business’s registered agent instead of hiring a third-party registered agent service provider. That means you’ll deal with one company, one customer support staff, one phone number, one website, and one personalized, reliable service. 2. Submit Your Filing and Fee to the State Some states require special forms to change your registered agent, some states allow you to change your registered agent by filing an amendment, and some states do both. In any case, you will file your change of registered agent paperwork with the agency in charge of business formations in your state (usually the office of the secretary of state), and you can expect to include the following information: - Your company name - The name & address of your current registered agent - The name & address of your new registered agent However, the filing requirements, forms, fees, and other details are determined by each state and vary widely. It costs $25 to file a Statement of Change in Alaska, for instance, $20 in Rhode Island, and $10 in North Dakota. Similarly, some states allow only online filing, some states will only accept your paperwork through the mail, and some states will do both. To determine those state-specific details, scroll down to the next section (“State-by-State Filing Requirements”) and select your state. 3. Inform Your Current Registered Agent of the Change States typically don’t require you to inform your former registered agent that you have appointed or hired someone new, but it is wise (and also polite!) to do so. If you neglect to inform your previous agent of the change, after all, you might get billed for services you no longer need or use. Ready to make the switch and hire Northwest to be your company’s registered agent? We’ll file your change of registered agent paperwork for you and even pay your required state filing fee. Change Registered Agents in Your State Today Click on the state name for more detailed information about changing your registered agent in each state, or switch to our registered agent service and let us handle the change of registered agent process for you. Read the full article

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How to Find a Company’s Registered Agent

How to Find a Company’s Registered Agent

Tracking down a company’s registered agent may seem difficult, but when a company files for formation with the state, they have to list their registered agent on their paperwork. After their business is formed, their documents become public information. Whether you’re looking for the registered agent of an LLC or a corporation, the process of finding their information is the same. Sometimes a quick Google search can lead you to the company’s registered agent’s information. But sometimes, registered agent information is a little harder to find. Luckily, a little digging can get you what you need.

Why would I need to find a company’s registered agent?

Process servers are generally the ones who will be looking for a company’s registered agent. A process server is someone whose job is to serve legal documents to someone involved in a court case.They’re tasked with delivering what’s known as “service of process.” Service of process is notice of legal action, such as a legal complaint, summons, or subpoena. In order to serve a company, a process server will need to deliver service of process to the company’s registered agent, who serves as a company’s point of contact. However, contacting a company’s registered agent isn’t just limited to service processors. Individuals or businesses who are struggling to get in contact with a business might seek out its registered agent too.

How to find the registered agent of a company

Whether the business is domestic, with one location, or foreign with their headquarters in another state, they are required to have a registered agent in the state where they are operating, i.e. the state where you are serving papers if you’re a process server. This is the registered agent you’ll typically want to contact. Find the state agency for business filings In the state of operation, you’ll need to contact the state office where the company originally filed their formation documents. For most states, businesses are registered with a division of the Secretary of State or the Department of State. In a handful of states, however, business registrations are done via different state commissions or departments: - Alaska: Department of Commerce, Community, and Economic Development - Arizona: Arizona Corporation Commission - Hawaii: Department of Commerce and Consumer Affairs - Maryland: Department of Assessments & Taxation - Massachusetts: Secretary of the Commonwealth - Michigan: Department of Licensing and Regulatory Affairs - New Jersey: Department of the Treasury - Utah: Department of Commerce - Virginia: State Corporation Commission - Wisconsin: Department of Financial Institutions Most filing offices give access to business registration information on their website. Conduct a business entity search A business name search or business entity search will often get you the information you need. If the state you’re looking into has an online business search, you’ll usually be able to find a company’s registered agent by doing the following: - Go to the Secretary of State’s (or other state agency’s) website. Look for a tab or link labeled something like “Businesses,” “Business Entity,” or “Corporations.” Sometimes the tab will read “Search Businesses” or “Business Search.” >> Checkout our complete list of Secretary of State Name Searches - - Read the full article

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FCC Registration | FCC License

HOW TO FILE FCC FORM 499-A AND GET YOUR FCC REGISTRATION NUMBER

What is FCC Form 499‑A? FCC form 499‑A must be filed by interstate or international telecommunications providers in the US to register for the Universal Service Fund and report their revenue. You’ll have the form 499‑A immediately inside your registered agent account with our DC agent information pre-populated on it immediately after signing up for our DC registered agent service. Who needs the FCC registration? File to get your FCC registration number as soon as you start providing telecommunications services. After that you file the form by April 1st each year. The FCC collects contributions and fees from providers annually, based on revenue reported on FCC form 499‑A. These contributions go to the Universal Service Fund and a few other federal funds. Telecommunications providers file FCC Form 499‑A to register with the FCC, but this is not an FCC license. Once you have registered, you can apply for an FCC license. Some FCC licenses require you to pass a test. Other FCC licenses, such as those for television and radio stations, require demonstration that technical requirements are met. Requirements for specific licenses are available on the FCC website. Who needs an FCC registration number? The first time you file FCC form 499‑A, you will mark it as “new” where the FCC registration number should be. The FCC will assign your FCC registration number after your first filing. After you register with the FCC, you can search for your FCC registration number in the FCC form 499 filer database (see link below). After your initial FCC registration, you will need to list your FCC registration number on form 499‑A each year. How do you register with the FCC? We provide FCC form 499‑A, Telecommunications Reporting Worksheet, in your online account when you sign up with Northwest for our DC registered agent service. We have pre-populated the “Agent for Service of Process” section. You may file the paper FCC form 499‑A or you can register online (see link below). You must submit FCC form 499-A by April 1st to report the previous year’s revenue. Send paper FCC registration forms to: Form 499 Data Collection Agent c/o USAC 2000 L Street NW, Ste. 200 Washington, DC 20036 Are there any exceptions to FCC registration? There are very few exceptions to the FCC registration and contribution requirements. Even if you are exempted from contributing to the Universal Service Fund, you probably still need to submit FCC form 499‑A to register and report your revenue. - Complete FCC form 499‑A to calculate your contribution. If your annual contribution is less than $10,000 in any year, you will fall under the de minimis exemption. De minimis filers still need to file FCC form 499‑A, but they do not need to contribute to the Universal Service Fund. Keep a copy FCC form 499‑A, Appendix A for five calendar years to document the exemption. - Governments, schools, broadcasters, and libraries do not usually need to contribute to the Universal Service Fund. They do not need file FCC form 499‑A, unless they contribute to some other fund. - If a system integrator gets less than 5% of their system integration revenues from reselling telecommunications, they do not have to file FCC form 499‑A or contribute to the various funds. How do you pay the contribution after you file FCC Form 499‑A? The FCC will calculate the amount of your fund contributions and send a bill to the contact person and address listed on FCC form 499‑A. What is a DC registered agent? Who needs an agent for service of process in DC? Telecommunication providers have to list a DC agent for service of process on FCC form 499‑A. This is someone in DC who can accept service of process and official notices for the company. You will need the name, address, phone number, fax number, and email for your agent in DC. You may list a “local agent” in addition to your DC agent. Common carrier and VoIP filers must have an agent for service of process in DC and may use the local agent space to designate an alternative or preferred agent. Filers other than common carriers and VoIP providers only need one agent for service of process (who can be inside DC or elsewhere). We have offices in all 50 states and DC. We can be your local registered agent and your DC agent for service of process! Once you have an account with us, you can always add whatever state you need. Hire us as your DC registered agent and agent for service of process. For just $125 a year, we can be your DC registered agent for the DLCP and the FCC. We provide all the DC agency forms and filing instructions you need in your online account. FCC form 499 Filer Database FCC form 499-A Submission Northwest Registered Agent LLC is the service you need. Read the full article