How Can I Sign Louisiana Banking Document

Document type sign profit sharing agreement template louisiana myself

today we're talking about how to start an llc in louisiana my name is eric and in this video i'm going to show you three different ways you can set up an llc one is going through your state website another one is also doing it yourself through free online legal tools and the third is how do you find an attorney somebody that you can trust that can set up an llc for you and the cool thing about the attorney side of it is i'm going to give you a tip on how you can get a free 15-minute consult as well but before we get to all that there are three things i want to make you aware of just in case you're not familiar with them and these terms are piercing the corporate veil registered agent and commingling funds now if you don't know what those words are and what they exactly mean as it pertains to an llc you're going to want to watch this entire video because it's really important that you understand those so that there are no cracks in your llc so why don't we get started by we google louisiana llc you go down first listing here organic listing is the state website now the first thing i want to make you aware of is that you can search for louisiana business filings and then what we're going to do is go over here to this link and what this link's going to allow us to do is search for your entity name you want a name that is not already taken now as you imagine if i were to put saints in here there's going to be a lot of businesses with the word saints in it and you can see that just because you have saints inc saints saints alive cafe renew auto sales all sorts of businesses with that name and you see all the pages down here now if we were to do a new search and i was just kind of put you know whatever just kind of type some things in on the keyboard what you're going to find here is it's going to say that there are no active records shown right there's nothing beneath that black bar there that's what you want when you're naming your business you want to make sure that you have a unique name that is not already an active record in the llc records so i just wanted to make you aware of that now if we go back a little bit uh and you know always have issues with the state websites uh what you're gonna do is click start a business and then file original documents if you're going through the state website it's going to have you create an account which i've already done and then once you get into that account what you'll do is you'll click get started and it's going to walk you through step by step of what you need to do now the issue that i have with state websites is i think that they gloss over details too quickly and i'll give you a good example of that i'm going to go to this um report here that i've already started setting up an llc and this particular step here it's talking about the um the company's registered office so you read that and you're like alright registered office is that like where we're doing business what does that mean what they're getting at and they're going to ask in the future steps here is they're going to start asking you about who your registered agent is and a lot of these sites what they do is they say who's your registered agent and you're not sure who that is so you go i don't know like my buddy down the street my cousin over here and people just kind of throw something together because they don't understand all the terms and how it affects the llc that they're setting up so before i explain what a registered agent is i think it's a good thing to go back and explain exactly what an llc does and what it doesn't do and then go from there because the reason i think this is important is a lot of people think they're setting up an llc and there's some sort of tax advantage there is not that's not why you set up an llc it's strictly for limiting your liability so once you set up your llc you know you can kind of picture it this way on the left-hand side of the screen here is your business and your business assets it could be the furniture you know the office itself things like that and on the right-hand side you have your personal assets so these are things such as your personal home personal car personal bank accounts when you get an llc it draws a division between your personal assets and your business assets that division is known as the corporate veil but what happens is is you if you have a good llc and you have that corporate veil when somebody sues you they can come after your business assets but not your personal assets but what that attorney is going to try to do is they're going to try to pierce the corporate fail and if they are able to do that what basically what they're able to do is find a crack in your llc that division disappears and then they're able to come after not only your business assets but your personal assets as well so that's what an llc does it helps protect those personal assets and separate them from the business now one of the ways that they may try to pierce the corporate fail is looking into your registered agent and seeing if this is a legit registered agent and if they have made any mistakes for you and your business now a nice article on this is on ink file here if you're not familiar with ink file it's a free online legal tool and all the links that i am mentioning in this video by the way they will be in the description below um if any of them are affiliate links that will mark them as a paid link but most of these are just free resources and now if we go down here it talks about these five quick bullet points of registered agent official letters and correspondence from your secretary of state so this third party that has a separate address from your business is pulling in these documents and making sure they're getting forwarded to you service or process notices so basically if you get sued that you appear in court very important official federal government correspondents information notifications tax forms and requests for payments and requests to complete permits company filings or reports so this registered agent is really helping you dot your eyes and cross your t's when it comes to your llc so they're really important for making sure things are legit and you have no cracks so an attorney can't pierce the corporate fail and come after your personal home car and bank accounts so very important now as you go through the state websites like i mentioned they kind of just gloss over these kind of details and i never really liked that because i feel like you need to have your hand held a little bit more if you're walking through the process i think the ink file does a really great job of this they've helped set up over 500 000 businesses and what i find is a lot of times the state websites you know they don't have the same budgets or at least they don't care as much as some of these online legal tools because these tools have spent a lot of time and energy to create something that really guides you through the process and one of the things i like about this is that you can get set up for as little as zero dollars plus state fee the state fee in louisiana you're looking at about a hundred dollars if you go through the state website plus your uh credit card processing fees uh if you go through this tool right here it's 105 dollars all in uh and what you do is click launch my business and then i'm going to start over here just to give you the steps uh you're going to click llc here 80 of all new entities set up are llc so you're in good company there and you'll select your state and what will happen is it'll have three different packages here so the first package is zero dollars plus your state fee but then it'll do the preparing and filing of articles of organization the unlimited name searches which you can do on the state website as well which i showed you and then free registered agent service for a year so that's really important uh you can get a buddy to be your registered agent i highly highly uh you know would push you into not doing that because if that person slips up once you might be putting your own personal home and assets on the line because that registered agent didn't do what they were supposed to do now you might be wondering like i said how do they do this for zero dollars if you go back to this article and scroll down on registered agents you'll see this one right here it's zero dollars but then it's 119 annually after that so again looking at this it's zero dollars that first year for the service but then it's 119 year one or year two i should say 119 year three and so on uh if you do want to use a different registered agent service down the line you can always switch that out but i just want you to be aware of that fee now i do want to make you aware of a couple things in the gold package here it's really up to you if you want to upgrade into these other packages it depends on your needs um ein business tax number so i set this up for myself when i got my llc uh this was kind of a pain in the butt and i should let you know i'm not an attorney or a cpa i'm just somebody who's done a lot of research on this topic and the way that you would set up this ein business tax number is you'd go to this link right here and again this url will be in the description below and it's going to walk you through if you need one you know how do you apply and all these things so you can go through the irs website to apply for that ein so i want to make you aware of that so you know maybe it can save you some money if you want to go with the silver package but if you want to take care of you because you don't want it or taking care for you because you just don't want to deal with the hassle you can go through and get the gold package the other thing to be aware of is business banking account now if you recall at the beginning of the video we had talked about commingling funds what that term means is basically some people will start a business and they had their personal bank account and they never set up a business bank account so they're running um you know personal transactions through that account of course but also business transactions invoices expenses payments all that so they are co-mingling funds and again if an attorney were to find that out that is a crack in your llc that attorney may be able to pierce the corporate fail because of that crack and then come after your personal assets so that's why it's so important day one to get that business bank account set up right now uh inc file does that through bank of america you don't have to use that service if you don't want but it's kind of nice again because they're kind of just putting the whole package together for you now if you were one other thing i want to make note of too is when you get the business bank account it's also helpful come tax time because when you're looking at all your expenses and incomes you can easily export all those or you can even integrate to an accounting software and make it very easy on yourself to do accounting for your new business whereas if it was in your personal account it's a mess right you're like oh i think that one was a personal expense that one's a business expense separate them on day one you'll thank me later now if you were to go with the gold package here the way it's gonna look on the next page is you're gonna see it all broken out right 149 for the package fee 105 for the state fee again no way around that 105 fee if you get an attorney they may bank it into their fees but you're paying the state of louisiana 105 but the other thing i wanted to make mention of here is the tax saving benefit this is a fully deductible business expense so even if you go through the state website make sure you keep this expense in mind come tax time so that you're deducting that from your taxes now the last thing i want to talk about here is if you want to hire an attorney why would you do that well if you're a little bit nervous setting things up yourself but really a lot of times the reason people do it is they have a complex business maybe you are doing sales in state and out of state so you're dealing with domestic and foreign llcs or perhaps you have a business that carries more liability with it naturally so if you were to have a bakery versus a roofing company as you'd imagine a roofing company is going to carry more liability and you might want to talk with an attorney so one tool that i like for that is this service called avo it's like a lawyer directory service so you can see that we're looking at just louisiana limited liability company lawyers and there's 35 of them i'm not affiliated with them in any way but i will have a link in the description below so you can check that out and what you'll see is if you click this button down here free consultation and we filter down now we have five results which is helpful and you can see reviews on these attorneys and they will give you a free 15-minute consult when you call them to discuss your situation so i just think this is a helpful resource as well so the last thing i want to talk about is this ink file review on the screen here at about the 2 30 mark is where i talk about an s corp versus llc tax calculator this is helpful stuff to understand down the road and how you can possibly save on taxes so i'm going to catch you in that next video and again thank you for using my links in the description below especially the paid links which help support my youtube channel so i can make more helpful content just like this i'll catch you in the next video