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-Each State has a different processing timeframe, but  your consultant will let you know an estimated time frame depending on the state you are in. Our goal is to get your paperwork to you as soon as possible.

We offer Registered Agent Services in all 50 states plus DC. Your registered agent will be available to receive official state correspondence for you during business hours. If you cancel this service, then you will need to show proof from the state that either our name has been removed as your agent or that the business has been dissolved.

The popularity of LLCs is well-deserved, as this type of business offers several advantages for entrepreneurs, including the legal protection of personal assets and pass-through taxation. 

All owners of an LLC are known as members and are provided limited liability protection similar to that offered by corporations.[2] Basically, this means that if the worst happens and an LLC fails or is sued, creditors can’t go after an owner’s assets. This structure serves as a protection from personal liability.

Arguably, the biggest reason entrepreneurs choose to form an LLC is tax rate advantages. LLCs with two or more members are considered partnerships for income tax purposes, while single-member LLCs are considered sole proprietorships.[2]

Both classifications provide the same tax benefits. LLCs are considered pass-through entities, meaning their business income passes through to their members, who report it on their personal income tax returns. This bypasses double taxation by avoiding taxes at the corporate level.

Yes, it is possible for non-U.S. citizens or non-residents to form an entity in the United States. However, the process and requirements may be different than for U.S. citizens and residents. It’s important to consult with an attorney or tax professional familiar with the process.

PRIME can help international customers open an entity in the U.S. but we do not offer services to international clients, seeking to open entity in a foreign country, due to varying tax laws and governing circumstances.

An annual report, which is also commonly known as a periodic report, is simply a way for the state governments to stay current on the basic information of your business. Generally, the annual report is filed with the Secretary of State’s office and includes a separate fee.

Every state has different requirements for the information that businesses must include in the annual report, but generally, the following data is needed:

LLCs:

• The name and address of the business
• The name and address of the registered agent
• The names of the members/manager(s)
• The business’s EIN

Corporations:

• The name and address of the business
• The name and address of the registered agent
• The names of the directors and/or officers
• The amount/number of shares
• The business’s EIN

With all of the other paperwork you have to handle for your business, you may wonder why the annual report is even necessary. State governments use a periodic report as a way to stay updated on the basic information and details of businesses.

This report also ensures that businesses are remaining compliant with certain regulations — like appointing a registered agent, maintaining legitimate contact information, and disclosing the business’s ownership.

Most states will charge a late fee if the annual report is not submitted on time, and many states will administratively dissolve the business if the annual report is late by more than 60 days.