business license

ANNUAL REPORTS/MINUTES ETC.


Like the other questions we discuss on this web site (with the exception of the question of who will serve as registered agent if you qualify to do business in another state), you have a choice when it comes to maintenance of your corporation or LLC: you can do-it-yourself, have it done for you by a nonlawyer service agency, or have it done for you by a lawyer. While you do not have a choice about having a registered agent, however, you do have the important choice about who that agent will be. If you want to change your registered agent, the successor registered agent will normally handle the process for you. The bottom line is that you don't have to worry about whether of not to do it yourself with respect to the paperwork involved with registered agents.

Periodic reports to the states, monitoring your status with the states, minutes and amendments are easier to learn than incorporating your company or qualifying it to do business in additional states. As to reports and monitoring, if you are willing to invest the time to learn the ground rules, to prepare the reports and to do the monitoring, "do it yourself" is a viable option. Amendments to your articles of incorporation/formation and minutes are more complicated, and you may be called upon to make some judgment calls with respect to the content of any such documents. If you are willing to risk making mistakes with these documents, however, the amending process and drafting of minutes are processes you can do yourself. Should you need assistance with any of these chores, there are sources who can help you at a cost which may not exceed the value of the time you spend negotiating the learning curve and taking care of these chores.
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