Registered Agent
Is having a Registered Agent a requirement?
Yes
What is the name of an owner of an LLC?
Member
What is the name of the paper EIN application?
Form SS-4
What does Colorado call their Renewal Report?
Periodic Report
What are the abbreviations for:
Waiting on Information, Revoked in State, Awaiting Client Input, Registered Agent?
WOI; ROI; ACI; RA
What is a Registered Agent?
A person or company designated to receive legal and state documents on behalf of a business.
What is the name of an owner of a Corporation?
Shareholder
What is an Operating Agreement?
An internal document that outlines ownership and operating procedures of an LLC. (Rules & regulations of an LLC)
When is a Wyoming Renewal Report due?
Annually, on the first day of the anniversary month of formation.
Give me a scenario where you would use an account note vs a company note.
Account Note - Changing Account Owner info like the name, email, phone number, payment method, etc.
Company Note - Company specific info like Filings, Services, Payments on Invoices, etc.
What are the 3 requirements to be a Registered Agent?
Must be 18 or older, have a physical street address in the state, and be available during business hours.
What does the term “Domestic” mean in relation to a company?
A company that is formed in its home state
Why do clients need an Operating Agreement?
To define ownership, prevent disputes, and provide proof of authority for banks and third parties.
What is filed to formally close a Domestic company?
Dissolution
A client says they never got a certain auto email from our system. What tab should you check in the account to see if they received the system email?
Event Notifications
Who are our 2 main Registered Agent service providers?
NWRA & RAINC
S-Corp is a ______ election. Fill in the blank.
Tax-election
What are the most common documents you will need to open a business bank account?
Articles of Organization/Incorporation, EIN, and Operating Agreement/Corporate Bylaws
Why would a company need to reinstate?
To bring the company back into good standing after administrative dissolution or revocation.
How long do refunds usually take?
About 10-12 business days
Is Wyoming a private state?
LLCs are private, Corporations are private for the first year
Do you “form” an S-Corp?
No, you elect S-Corp status with the IRS for an existing corporation or LLC.
Is an Operating Agreement public or private?
Private, it's an internal document
What are Initial Resolutions used for?
This is basically the document we use to hand things off. Once the company is formed, we give the official authority to the members, managers, or officers listed. After that, it’s their company to run, and our part is done.
If a client calls in and wants to know if a certain state allows a future effective date, what two spots can you find this information?
Using the filters in the Filing Orders OR searching for the Effective Date list in KB