Business Formation & Structuring | Vellum LLC

We’ll present you with your options. We’ll ask you about your business assets, your workforce, how you provide your services or sell your goods, and your ownership. Then we’ll provide you with options on how to structure your business. These options include a sole proprietorship and one or more LLCs to either operate your business or hold assets. We’ll also provide general information about S corporations and electing to be taxed like an S corporation. If an option includes more than one LLC, we’ll inform you on how those LLCs will work together and the downsides of the administrative costs of maintaining more than one LLC. Then we’ll form the company or companies based on which option you choose If you decide to form one or more LLC, we’ll file the Articles of Organization with the state to form the LLC, get a certificate of organization, file the initial biennial report, and (in Alaska) apply for a new business license. We’ll then draft your operating agreement. You’ll get your tax ID and decide on whether to elect to be taxed like an S corporation with the advice and help of your CPA. If you have more than one LLC, we’ll draft the agreements between them such as an inter-company lease and shared services agreement. If you need to transfer assets to the LLC, we’ll advise you on how to make the transfer and will draft some of the documents necessary to make the transfer. With these things in place, you’ll be able to open a new bank account for your LLC and start making money