How Do I Sign Alabama Permission Slip

How do i document type sign permission slip alabama

hey y'all my name is Rob drum her estate broker and real estate investor here in Birmingham Alabama I read a blog at rob drum about us where I do a lot of market analysis and stories about our market real estate investing all that today I'm going to tell you how I opened an LLC in Alabama I'm not an attorney I don't pretend to be an attorney I'm not giving legal advice and I don't even recommend that you do what I did but I had some agents that I work with ask me how I opened my entity my LLC and so I told them I'd make a video and show them exactly how I did it it might save you a little bit of money but it's kind of a lot of effort and I don't know if it's worth doing it this way but here's what I did so there's four steps reserved your name with the Alabama Secretary of State filed the Articles of Incorporation with fallibilist Secretary of State and then go and get an EIN number from the IRS and then you take all that and you open a bank account so that right there pretty much lays it out I'm gonna go into more detail but if you you know can just all the directions and kind of figure things out and you can take those four steps and stop the video right here but we'll get into it I'll show you exactly which screens you want to go to and hopefully not take up too much of your time here so first you go reserve the name that's a is the website for Alabama Secretary of State check the good business services name reservation menu name reservation non-subscriber they're gonna hit you for $28 and then you just kind of follow the screens enter all the information that you want they've got specific instructions for how you can name your LLC what it needs to contain or not contain and I'll show you it's that Secretary of State website business services name reservation menu name reservation and here's what I tell you you know what your costs are gonna be twenty eight bucks for nonsubscribers you're probably not a subscriber so I'm not so Secretary of State fees a hundred bucks and then you're also gonna get where I'm trying to remember depending under County they may or may not have a filing fee for the county somewhere in the range of 30 to 60 bucks so you're all-in fee on this is gonna be under 200 depends on which county you're in and if you want an expedited processing or how you're going about this so you just click non-subscriber and then you just give them your information and this is gonna reserve your name for the new entity and once you've done that it'll kind of follow you through the fields and kind of transition you straight into filing your Articles of Incorporation when I was looking at this earlier it looked like it may be possible now to e-file your articles and not have to go up to the courthouse to do it um but I haven't done that so I don't can't really speak on it but it looked like that was something they were trying to offer um so let's go back to this filing the Articles of Incorporation these are I'll show you how to get to this form but it may just you may be able to just continue from doing your name reservation straight into it but you'll go to the same Secretary of State website click business forms make sure you go to limited liability company and then download this form right here domestic LLC's certificate of formation and read the instructions very carefully because there's a lot in there and it tells you exactly what you need to do and you just need to follow the instructions and then you take that to the probate court you want to register your entity so let's see what this looks like Secretary of State website business services business forms then you just scroll down to the heading I guess it's not this having domestic corporations you're doing an LLC so you want limited liability companies and then there it is domestic LLC certificate of formation and here's the form kind of scary-looking but I just filled it out myself you want to read all these instructions because there's a lot in there it's a lot of instructions there so I think you they ask you for your the name of your company and that should match up to the name reservation that you already made and then they ask you who's filling out the form registered agent that's I recently had to change mine but I just was my own registered agent but you could have an attorney be a registered agent I wouldn't mess with all this without consulting an attorney probably because I don't know what all that is and and you pretty much just fill all this out they tell you how to pay where to send the money and that's pretty much all there is to this form I mean once you follow the instructions on how to file it how to get it get it registered so then you've got everything registered with the state that you need now you need to get legal with federal government and the IRS and it's probably easiest just to walk you through their website because it's a little trickier there's lots of fun stuff you can do here but what we want to do is file business and self-employed employer ID number and then right here you tell them apply for an ein and then you tell them again apply online now and then they take you to this website and there's a lot to read here to definitely read through all this we were doing LLC they tell you a lot about LLC's how they work this you're getting into some tax stuff as far as the number of people in your LLC the state where you're registered this is stuff that you want to have a conversation with the CPA about the treatment of your LLC but as far as getting it open you know you can go ahead and put um put just yourself for however many members you have so that'll just walk you through you know they ask you all this stuff there's four address but what you end up with is a form that says here's your new entity number four tax filing purposes and you're officially official with the IRS so you take those two things and take them to your local banker I would recommend using a community bank that works with small businesses I've had a lot of success with that and it's somebody who's gonna be able to support you and what you're doing locally so they're gonna you basically take on your Articles of Incorporation in your EIN and they can give you a bank account for your new entity if you have anything if you have multiple members or if you have anything that's complex as far as ownership operating responsibilities financials I would definitely not try to write that operating agreement yourself I would would take that to an attorney and he'll help you not only write it but think through how everything is gonna work in your new company that's I have not tried to do that myself and I wouldn't and and honestly at this point I don't know if I would try to create a new entity this way but that's how I've done it a couple times and so if you want to is how you do it at that point you're in business get to work and all for the races so thank you for watching this hopefully it helps you if you're looking to start a entity in the state of Alabama my name again is Rob drum I'm a real estate broker here and he XP Realty and I'll put my information in my contact information in the description here on youtube if you want to reach out to me about anything real estate investing business related so thank y'all for watching