E&Q Tax - Accounting and Business Solutions

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201-488-4060 Monday-Friday: 9:00 am - 6:00 pm


What is an LLC?

  • An LLC stands for a Limited Liability Company.
  • The main reason for forming an LLC - whether you are starting a new business or formalizing an existing one - is to separate your personal affairs from your business.
  • When done properly, and kept compliant, an LLC means you are not responsible personally for debts or liabilities of your business: invaluable protection.
  • An LLC is also very flexible about who can own and manage the business and how you decide to manage its tax affairs.
  • An alternative is a Corporation: that is often preferred by companies who are seeking external investment or plan to take the company 'public'. This comes with greater formalities such as requiring a Board of Directors, issuing stock and creating bylaws.
  • If you decide to create an LLC, it is possible to convert it to a Corporation in the future if your needs change.
  • Most of our customers decide an LLC is the best option for their needs. We can help every step of the way.

How do I form an LLC?

  • Forming an LLC with EqTax couldn't be easier.
  • First you need to pick a name for your LLC.
  • Forming an LLC then requires filing official paperwork with your State. We can take care of all of this on your behalf, liaising with the State to get it all done.
  • The exact rules vary by State but we are experienced in each and know just what it required.
  • A filing fee is payable to the State as a cost of having an LLC there. This is added to your order and we then pay it on your behalf.
  • You will also need an operating agreement (setting out the 'rules' of your company), an EIN to open a bank account and pay taxes, and licenses and permits. We can help take care of all of that for you.
  • All but a few States require, by law, the appointment of a registered agent. We can take care of this formality too.
  • There are also ongoing requirements - such an the filing of Annual reports and other Compliance documents. Our Total Compliance package helps with this.
  • The set-up costs of an LLC are usually tax deductible.
  • Use this page to search for your preferred name, place your order and let us get on with forming your LLC for you!



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