Among the many business structures, a limited liability company (LLC) offers many benefits making it the most preferred form of business. For example, the owners (members) enjoy limited liability, meaning they cannot be held liable for business debts beyond their shareholding in the companies.
However, forming a company is not an easy process if you choose to do it on your own due to the paperwork involved and various legal procedures. Fortunately, you can hire an LLC formation service to handle all the work for you. Besides, they offer other services like annual report filing, which your business could benefit from.
Here are some of the reasons why you should consider hiring an LLC formation service when incorporating your business:
Reduces Costs
If you hire a formation service while setting up your company, you keep your costs at the lowest. You benefit a great deal from choosing a monthly or annual subscription fee because it is more economical than if you take up setting up this type of business on your own.
When you set up an LLC on your own, you spend more because you will outsource a registered agent service or have an internal employee. Additionally, you must hire a lawyer to draft your operating agreement and get a CPA to handle your CPA assessment and other tasks.
Saves Time
Typically, forming an LLC involves at least five stages, but it depends on your state. You have to prepare yourself for a lengthy process if you choose to create a company on your own. Luckily, working with a reliable LLC formation service to handle the process to completion would undoubtedly save you a lot of time.
What’s more, even when you pay for a basic LLC formation package, the services cover all the required services by the law to form a limited liability company in your particular state. Some of the products you get include registered agent service, a CPA assessment, and the creation of an operating agreement.
Offers Lifetime Legal Advice
Other than the incorporation services, some LLC formation services offer legal advice to run a limited liability company. As such, if you can foresee that your LLC will need ongoing legal advice, you can hire service providers who offer such. Using the services of such LLC formation service providers is an excellent advantage to your company because they provide you legal and business advice and guidance for the entire life of your LLC.