There are a lot of rules and regulations that must be followed when opening a new business. Most owners enlist the help of various professionals to file insurance and tax forms and handle the legalities that have to be completed correctly. The majority of states require business owners to use registered agent services. If you happen to live in a state without this requirement, you should still give hiring a legal representative serious consideration.
Registered agents are companies or individuals you have designated as your representative to receive certain communications and documents from government entities, and official notifications from the IRS and attorneys. They do this on your behalf. Agents must be located in the state where the business is registered.
States consider these agents their official contacts for individual businesses. If you own a business with satellite offices in several states, it is especially important for you to have this kind of representation. Failing to name a representative, could mean facing serious consequences.
Business owners hire third party representatives to accept important official documents and notices for them. The agents are located in the state where the business is registered. Official representatives are authorized to receive notifications such as process notices, tax forms, communications from the Secretary of State and various government entities, and information notifying businesses of pending lawsuits.
States want to know they can reach company owners whenever they need to. That's why most of them require owners to have contacts who are reachable at all times. This is even more important to states when businesses have physical locations outside their borders. Your official representative must submit a physical address to the state. Post office box addresses are not accepted.
Not only is this an important contact for the state, it also important for you as the business owner. When you have multiple locations, it is possible that you will fail to receive important tax and legal notices in a timely manner. You certainly need to know when you have been served notice of a pending lawsuit as soon as the suit has been filed. You don't want to miss important tax deadlines because the notice didn't reach you in time to meet a deadline.
There are owners who try to save money by acting as their own agents. While it may be legal to do this, it has drawbacks. Agents must be accessible all the time in order to receive notifications. That means if you have to leave the office for the day or take a vacation or a sick day, you have to make alternative arrangements. You will probably find that the convenience of paying an official representative is worth the cost.
Having an official representative means you will not have to deal with a sheriff knocking on your business door to deliver notification of an IRS inquiry or court summons. If you decide to move your business, having a representative with the state will cut down on the paperwork. States have the authority to fine you, revoke your licenses, and keep you from the court system when you fail to comply with this regulation. The procedure to reinstate your business will be costly and time consuming.
Registered agents are companies or individuals you have designated as your representative to receive certain communications and documents from government entities, and official notifications from the IRS and attorneys. They do this on your behalf. Agents must be located in the state where the business is registered.
States consider these agents their official contacts for individual businesses. If you own a business with satellite offices in several states, it is especially important for you to have this kind of representation. Failing to name a representative, could mean facing serious consequences.
Business owners hire third party representatives to accept important official documents and notices for them. The agents are located in the state where the business is registered. Official representatives are authorized to receive notifications such as process notices, tax forms, communications from the Secretary of State and various government entities, and information notifying businesses of pending lawsuits.
States want to know they can reach company owners whenever they need to. That's why most of them require owners to have contacts who are reachable at all times. This is even more important to states when businesses have physical locations outside their borders. Your official representative must submit a physical address to the state. Post office box addresses are not accepted.
Not only is this an important contact for the state, it also important for you as the business owner. When you have multiple locations, it is possible that you will fail to receive important tax and legal notices in a timely manner. You certainly need to know when you have been served notice of a pending lawsuit as soon as the suit has been filed. You don't want to miss important tax deadlines because the notice didn't reach you in time to meet a deadline.
There are owners who try to save money by acting as their own agents. While it may be legal to do this, it has drawbacks. Agents must be accessible all the time in order to receive notifications. That means if you have to leave the office for the day or take a vacation or a sick day, you have to make alternative arrangements. You will probably find that the convenience of paying an official representative is worth the cost.
Having an official representative means you will not have to deal with a sheriff knocking on your business door to deliver notification of an IRS inquiry or court summons. If you decide to move your business, having a representative with the state will cut down on the paperwork. States have the authority to fine you, revoke your licenses, and keep you from the court system when you fail to comply with this regulation. The procedure to reinstate your business will be costly and time consuming.
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