LLC Formation
A Washington State Limited Liability Company provides an owner or owners a combination that is hard to beat: ease of administration, and robust protection from liability.
Ease of Administration: An LLC is the easiest form of legal entity to create, aside from a sole proprietorship. It is relatively inexpensive to create (one time filing fee of $200) and relatively inexpensive to maintain (annual report filing of $85).
Robust Protection from Liability: An LLC provides your personal assets protection from liability, thereby protecting you and your family. If a business creditor, whether a bank, another business, or a person with a judgment wants to collect their debt, they cannot access your personal accounts; they can only access your bank accounts. Of course, this requires you to follow some rules in order to maintain this protection, such as not commingling accounts and creating a unity of interest: essentially, don’t use your business accounts as your personal accounts. It helps to keep detailed records.
If you have an LLC but do not follow the law with respect to record keeping and accounting, then you can consider yourself a sole proprietor in all but name, and you may be held personally liable for business debts or torts that may arise through the course of your business.
WA LLC Package may include:
-Telephonic or in-person consultation;
-Single Member or Multi-Member LLC Operating Agreement;
-Certificate of Formation filing with Sec. of State;
-Trade Name Registration and Master Business License filing with Dept. of Revenue
-Employer Identification Number (EIN) registration with IRS