Registered Agent Facts
How often is the client charged for the registered agent?
Semi-annually for new customers & annually for existing customers
What does BLCP stand for?
Business License and Compliance Package (BLCP)
How much does it cost SWYFT to obtain the EIN?
$0 but we charge $70 to add on to a package because we are a filing service
or $79 to add on alone
A Nonprofit has to have how many directors?
3 directors
BONUS 100 points: WHY?
What Bank do we have a partnership with?
Bank of America
Why hire Swyft Filings to be the registered agent?
Any of these answers are correct:
Why would a client order a sellers permit?
If they are selling goods that would ordinarily be subject to sales tax
What company gets an operating agreement?
What company gets bylaws?
Operating agreements are for LLCs & bylaws are for corporations (this includes nonprofits)
What is one difference between an LLC and a Corporation?
-Corporation owners are taxed separately from their business
-Corporations have the ability to take the company public and issue stock
-LLCs are not taxed at the corporate level. Instead, all profit and losses are reported with the personal income taxes of each member
-LLCs must be member or manager managed according to the terms of the operating agreement
-C Corps are required to have shareholder elected directors who oversee and elect officers to run the day-to-day operations of the company
-LLCs have a limited life and are usually dissolved when a member dies, or if the company faces bankruptcy
What is a benefit of using Snap Mailbox?
When is the registered agent fee charged?
3 days after the order is placed
What is a certificate of good standing?
A Certificate of Good Standing (also called a Certificate of Status, a Certificate of Existence, or a Certificate of Fact) provides evidence that a client’s company has submitted all required reports and paid all required fees to the state.
BONUS: When might a client need this?
What are the two types of 501C3 filings that we assist with?
Long form & short form
1023 & 1023 EZ
What is a DBA statement also referred to as?
"fictitious business name"
"trade name"
"assumed name"
What is the new company we are working with to provide business insurance quotes?
Cover Wallet
When are you able to cancel the registered agent subscription?
1. If the client updates the registered agent with the Secretary of State
2. If the business is dissolved
What is a dissolution and how much does it cost?
A dissolution is the process of closing a Limited Liability Company or Corporation.
If the client would like to file the dissolution with Swyft it is $149 + the state fee
What does the digital corporate kit include?
Our digital corporate kit includes a wide variety of tools designed to help your company stay compliant. The kit includes:
Company Seal – Customized digital seal with your company’s name, year formed, and state will allow you to properly mark all of your company’s documents.
20 Customized Stock Certificates – Customized stock certificates will allow you to distribute formal ownership documents to your company’s initial owners/shareholders.
Ownership ledger – A dedicated and specifically designed ownership ledger will allow you to properly document all of your company’s ownership transfers.
What is the difference between an S corp and S Corp election?
An S Corp is a C Corporation with the Secretary of State and we file the S Corp election with the IRS so that they no longer have to pay income tax at the corporate level
An S corp election is a filing made with the IRS by a corporation, limited partnership or limited liability company with the IRS so the entity can be taxed as a partnership with the profits of the entity passing through to the owners so there is only one level of taxes avoiding the double-taxation problem.
What is the website BUILDR company that we work with called?
Rocketbuildr
What requirements must someone meet to be a registered agent?
1. They must have a physical address within the state of formation (NO PO BOX)
2. They must be over the age of 18
3.They must be available to receive service of process on behalf of the Company during business hours generally from 9am - 5pm Monday thru Friday.
When does the initial report need to be filed?
What is another name for the initial report?
1. Within 30-90 days of the business being approved
2. Statement of Information
What is a conversion?
A conversion is the process of converting a Limited Liability Company into a Corporation or vice versa. It can be a rather complex ordeal. Some states do not allow conversions, others want a merger instead.
Are DBAs filed at the state or county level?
Trick question! DBAs are filed at both levels. It depends on the state and the management
What does Legal Corp Solutions do?
They are our trusted third party liable for receiving and forwarding all notices from the government for clients businesses