What To Do After Forming an LLC - 6 Crucial Next Steps (2024)

Attorney clearly explains the next steps after forming your LLC to prepare it for success and to protect your personal assets. This includes 6 critical next steps you must take (plus some bonus tips).

It's important to follow certain steps after you form an LLC to ensure liability protection and personal asset protection. I'll take you through 6 primary steps with 5 additional tips for after an LLC is created. You will learn exactly what to do after forming an LLC.

If you want more details on what should go into your LLC Operating Agreement, go here:

Thank you!

Best regards,
Chris Jackson
@cjlawvideos

00:00 Intro: What To Do After Forming an LLC?
00:35 6 Steps After LLC is Set Up
00:56 Why it's Important to Take These Steps
02:04 Step 1: LLC Operating Agreement (What to Include)
04:39 Step 2: LLC Tax ID (EIN)
05:14 Step 3: Open LLC Bank Account
06:19 Step 4: LLC Business Permit/License
06:30 Step 5: Business Insurance for LLC
06:50 Step 6: S Corp Tax Status (Form 2553)
07:58 Bonus Steps After Forming an LLC

//BIO//
Hi, I'm Chris Jackson. I have over 25 years of experience as a business attorney. I'm also an entrepreneur who has owned, managed and sold at a significant profit multiple franchise coffee houses. In addition, I have finance and operational experience as a Chief Operating Officer (COO) of a large company. I just started this channel in February of 2023 to share information which I hope you will find valuable.

//DISCLAIMER//
Disclaimer: Note that nothing in this video is intended to create an attorney-client relationship. This video and my channel are for general information and entertainment purposes only and should not be construed or relied upon as legal or tax advice (generally or specifically). You should not act or rely on any of the information contained herein without seeking professional legal advice.

#llc #limitedliabilitycompany #assetprotection #llc2023 #llc2022

[cjlawvideos]

I hope this video on what to do after you form your LLC was helpful. For more information related to LLCs, visit my channel here:
Thank you for watching!

[SiriusBunch]

Your dog stole the show! He is adorable. Thanks for the helpful info.

[Csett]

Thanks for the valuable information, it was a great video as always. P.S. One of the best transitions from explanation to apologizing for a squeaky toy I have ever seen, it was smooth and effortless. Entertaining and educational at the same time.

[bowmadness]

Thank you for sharing your knowledge, very greatful.

[Noveleffect]

This is so helpful! The general overview gives just the right amount of info--I don't need to get into the weeds just yet. Will most likely watch the rest of your videos. Thank you!

[chrisburns]

I'm liking your videos, Chris. Looks like I'll be binging on them for the setup of my business LLC.

[journeywithskarlent]

Thanks for the content, I enjoyed every bit of information.

[benjaminandrada]

Thank you sir. Hope you make more videos

[dariouspetway]

Great Video very informative and clean any tips for a day trader? You have a new sub by the way keep up the good work!

[renatanash-live.laugh.love]

I'm from Florida but i enjoyed the video! Thank you! i was laughing and didn't hear your dogs name but i was thinking it would have been hilarious if you had named him "Action" bc his name would be Action Jackson! lololol lmbo

[techfixer]

Another great informative vid Chris! Okay, so say as a supposition you (as a biz attorney are paying yourself), by law an Llc must use payroll. And for you it's using Patriot Software, right?

Lastly, it's worth noting that Jack's squeezed his toy loudly at the exact moment when "Distributing of Profits" was the topic. He knows what's up when it comes to his distribution of doggy dollars!

[yoyomars]

Thank you for sharing clear and precise information. Will there be a video about how to file an annual report with your state, soon?

[monimeish]

lol the way your facial expression doesn’t change when you look at the dog, 😂😂😂😂😂

[xbeefedgex]

Chris, your videos are extremely informative and appreciated! At 9:05 you mention one or more credit cards should be used only for your business, I'm assuming you are referring to the business credit card and not a personal card, since a personal card can give cause to pierce the veil of the LLC?

[johnfksmith]

Thank you sir for your channel. I'm looking to form a new LLC, my question is about the initial funds for the bank account. If I use funds from my personal bank account to establish, is that considered co mingling?

[claudian]

Wonderfully explained, I do have a question, is there a way to personally fund the business account that will not tax me twice, at least in the beginning as I sale the product I have already invested in? Thank you.

[ireland]

If you have an LLC with an S Corp, will I be paying for both? The annual tax for LLC and what do you pay for S Corp, when combined? Thank for all the great information 🤗

[TM--wq]

Can you please tell me on the EIN what tax option you choose ? Also do you have more information on the s corp form ?

[BettahThanIDeserve]

Thank you for your video, I want to start my business early next year as soon as possible. How long will it take to complete all these steps? Also, how long does a business license and LLC usually tend to take to be completed?

[lolkk]

Hey Chris & Puppy 😊! Thank you for the content! Very helpful! I recently filed my llc through bizee (incfile). I received all the documents, including the template operating agreement. I noticed at the bottom of the operating agreement they left a blank space for signatures. Do we need to sign the bottom and have it notorized? Thanks again!