The United States is experiencing a rise in the number of filings for new companies, and the government has indicated its support for small businesses. The United States Small Business Association has made a number of funding options available to entrepreneurs to encourage the growth of startups in America.
When looking to incorporate, entrepreneurs have shown particular interest in the state of Wyoming. This is most likely due to the state’s attractive taxation laws and superior asset protection. U.S law requires all registered businesses to have a registered agent, while anyone of legal age will be allowed to act as a registered agent for an LLC in Wyoming– there are registered agent services that will be able to provide expert assistance. One of the best-rated ones is Northwest registered agent services. In this article, we will explore the ways in which a registered agent service can help with LLC formation.
Self-Directed 401(k) LLC
Planning for retainment is a factor that everyone, regardless of age, should be focusing on. A solo or self-directed 401k affords entrepreneurs the ability to establish their own retirement fund and allows anyone with a retirement fund to invest in a limited liability company. Setting up a 401k will require a company, even if it is a brand new startup, and will provide benefits such as:
1. The ability to invest in an LLC
- Tax-deductible contributions
- Higher contribution limits
- Earnings compound tax-deferred
A Wyoming attorney or registered agent service can help entrepreneurs to bypass a custodian and instead invest in a wider variety of opportunities. This will save on fees and will provide complete control over how the funds are actually managed. The registered agent company will take care of handling all of the details– from the LLC formation to the operating agreement and thus allowing the owner of the LLC to invest as they wish.
Asset Protection Strategies
LLC’s provide superior asset protection, which is one of the reasons that they have become so popular. There are many strategies that can be utilized, and Wyoming’s Supreme Court upholds the laws that can be used to help get the most out of an LLC. However, to fully grasp the benefits, it is best to allow a professional to advise and take charge of the process. The truth is that most business owners do not have the sufficient legal knowledge to cover themselves from a legal battle compressively; this is why it is imperative to always have a professional that can take care of the nuances. With a professional registered agent, entrepreneurs opt-out of unnecessary risks since asset protection planning reduces the chances of crippling losses that can stem from unfortunate events.
The state of Wyoming is one of the few jurisdictions that does not require the disclosure of the managers or the member’s details of the LLC. However, since a registered agent is a requirement and they will receive all necessary correspondence, their details will be captured. By having a professional registered agent step in, entrepreneurs avoid the risk of any of their personal information being leaked. This will ensure that potentially dangerous individuals will not have access to any information provided by the registered agent.
LLC Holding Companies
Wyoming has proven to be a popular site for the setting up of a holding company. Traditionally, holding companies are located independently; this is due to them not engaging in any operations. As a result, they provide flexibility in creating their domicile; this is why many business owners use Wyoming LLCs as their parent company. Subsidiaries can then be established either in any state of the owners choosing. A professional Registered Agent service will be able to assign an experienced agent to take care of the paperwork. They will be able to help set up the holding company—taking out the hassle and complications that come with the process.
There are many benefits associated with starting an LLC, and the business structure has proven to be an excellent choice for small businesses in particular. The state of Wyoming fortifies these benefits with its attractive taxation and privacy laws. However, since most entrepreneurs do not have the time or the appropriate level of expertise to get the most out of an LLC, a professional registered agent service can step in to mitigate the hassles.