NORTHWEST REVIEW: Follow Along as I use Northwest to Form an LLC in New Mexico for my side gig

Рет қаралды 7,265

Жыл бұрын

I'm setting up my side gig business (for my other YT channel Elizabeth Off Grid, among other things). In this video you can follow along as I use Northwest to form my new umbrella media company LLC in New Mexico.
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#LLC #review

Пікірлер: 68

@ElizabethPW Жыл бұрын

Here’s a link to Northwest is you’re curious: www.northwestregisteredagent.com/

@russfreelancer 10 ай бұрын

It’s sooooo helpful! thank you for sharing this!

@ElizabethPW 10 ай бұрын

Welcome!!

@mohammedCodeL 10 күн бұрын

Thank you so much

@yubanihernandezmiranda9252 5 ай бұрын

I'm from CA and just moved to NM! Also just formed my LLC... wish i would have seen this video beforehand. You're videos have been helpful, thanks!

@ElizabethPW 5 ай бұрын

Glad it was helpful!

@alansnyder8448 Жыл бұрын

Thanks for this e-mail. I used Northwest to create an LLC last year. I cannot recall if I signed anything or put in a capital contribution, so this video is a good reminder for me to go check. I did talk with someone from Northwest once to verify it was setup properly and they said they thought so. One question I have, is I'm about to create a virtual address with a local co-working space (Intelligent Office) so the occasional mail I might get will be sent there, but now I'm wondering if that is redundant to the Northwest does.

@ElizabethPW Жыл бұрын

It really depends on how much mail you get and where you need to use the address -- it can be redundant but also a local address can make sense if you get packages and such

@mrsd2143 3 ай бұрын

Dear Elizabeth. This is golden, thank you! If I’m planning to self publishing books (will be printed by Amazon, Barnes and Noble, etc.) will this fit under umbrella of “Media” company and just add this info in Business Purposes box?

@ElizabethPW 3 ай бұрын

Yes media sounds like a good idea for that

@antoinette-mays 6 ай бұрын

I really appreciate your thoroughness. Once it was set up and you signed off on documents, did you find that you needed to “order” physical copies from the NW portal? Or were the electronic copies good for you?

@ElizabethPW 6 ай бұрын

I have not needed to order any physical copies

@SH-ex8mk Ай бұрын

Thank you for this, it's been so helpful! I was wondering, would you need to get a business license in Santa Fe now as well as your actual physical city/county in California?

@ElizabethPW Ай бұрын

No, I don't actual operate in any of those places, physically.

@AdamHaider 10 ай бұрын

Your video was very informative, Have a question, How to form an LLC as a none-US resident using NorthWestAgent?

@ElizabethPW 10 ай бұрын

If you are not a US resident, I recommend doola.com because they are set up for that

@ProsperousBudgets Жыл бұрын

This video came at the perfect time because I am going to set up a LLC with Northwest based off your previous videos! I’m going to create a Wyoming LLC for my rental properties for anonymity. I was going to pay for a virtual office through northwest so I don’t have to use my address anywhere. Do you think that’s necessary? Or should I have just mail forwarding? When I saw you set it up, it shows that NM address, so I wasn’t sure. Thank you for this!

@ElizabethPW Жыл бұрын

Hm I'm not sure what their Virtual Office includes (you may need to call them to find out). It also depends on where/how you are going to use the address, and what kind of address you need. In some cases, you can just use a mailing/virtual address and for some things you need a physical location address. In the past I have found Wyoming to be picky about physical location addresses (even requiring to see the lease on office space) so would be good to ask Northwest about their current experience with using their address for Wyoming.

@ProsperousBudgets Жыл бұрын

@@ElizabethPW I will do that! Thank you!!

@CandiceArrington-pp1jg 10 ай бұрын

Thank you so much for this video! I've been wondering about setting up a LLC out of state. I live in California and am starting an online business buying items online and then selling them on Amazon. Can I set up a LLC in a state with more protections like Wyoming instead of in California since the business is online? I would purchase the items online and have them shipped to my house and I would then ship them to Amazon. Would shipping the items to my house require me to register as a business and get a California business license and LLC or can I do it in another state? If I set up the LLC in Wyoming, would I just pay taxes in Wyoming or would I still have to file any type of business tax return in California? Thanks in advance for any clarification you can offer!

@ElizabethPW 10 ай бұрын

Hm if you have inventory in CA then probably is enough physical contact with CA to require you to file as a "foreign LLC" here (and pay the $800/year franchise fee). In that case it is usually better to just create the LLC here so you're not filing stuff in multiple states

@proudlynomadic Жыл бұрын

Question...The mailing address, should you change it to a virtual office/address later down the road, will also have to be changed for the address the state has right? I guess my only concern is my virtual address and the state address being different since I'll need one to open a bank account? Sorry, I hope that makes sense lol. This is all so new to us. Regardless, thank you SO MUCH!!!

@proudlynomadic Жыл бұрын

I guess we're also just worried that the state address, being the registered agents address, being different than IRS when we file the annual report/communications (being our home address). Or are we just not thinking correctly lol? 🤣

@ElizabethPW Жыл бұрын

Ah well for the bank and the IRS, I tend to just use my actual address (home address) just to make sure that I get the mail quickly -- those databases are not public (in theory) vs the LLC filings

@kstevenson3504 Жыл бұрын

Hi Elizabeth, I love your videos. I'm considering NW. But I'm concerned about the quality of the articles and operating agreement. Other companies say their operating agreements are like 60 pages long. Also do you have any recommendations for books or courses on maintaining your LLC. I'm interested in meeting minutes and accounting stuff. What if I make a mistake and use a personal card for business expense or a business card for a personal expense and all the typical mistakes that happen.

@ElizabethPW Жыл бұрын

I don't think that most small businesses with just 1-3 owners need a 60 page agreement. I'd have something perhaps 15-25 pages at most. Check out this book from nolo: www.amazon.com/Your-Limited-Liability-Company-Operating/dp/1413329632/

@kstevenson3504 Жыл бұрын

@@ElizabethPW SWEET!!! Thanks!

@Zaman575 4 ай бұрын

Hi Elizabeth, I can' find answer anywhere and is really confusing to me. If I'm in NYC county and my RA is in another county, but same state, and just opened my llc, still in the process of publications in their county, can I use a virtual address to open a bank account and also for other legal stuff, or am I supposed to use RA address for my bank account since they also applied for my ein? I hope you undesrtand and can help with my question. Thank you

@ElizabethPW 3 ай бұрын

Usually you don't use the RA address -- you use your own address for everything except the RA aspect itself

@makething5119 10 ай бұрын

Very very thanks for this Essential video, So there were three files, one was llc certificate and two other files, can you explain what is these filese and it is usage, if you make a video it will be better, thanks

@ElizabethPW 10 ай бұрын

Not sure what files you meant, perhaps the LLC Operating Agreement and other supporting documents that LLCs need (but is usually not required)

@makething5119 10 ай бұрын

@@ElizabethPW Very thanks

@rudeboyrg 8 ай бұрын

Love your videos. I live in Seattle, but will probably move to New Jersey in near future. Plan on having a small business consulting company. Mostly consists of working from home remotely and providing Excel based reporting, worklow and project management for other businesses throughout the U.S. They may be in various states (some may end up being in my home state, others may be all across the country). Do I need to set up my LLC in my home state (Washington and later Jersey) or can I set it up in Wyoming since I'm consulting remotely nationwide?

@ElizabethPW 8 ай бұрын

You can set it up in Wyoming (or whatever else other "neutral" type state) but you'll need to see if you are going to be required to register as a "foreign LLC" in Wash or NJ -- sometimes it costs so much to do that, it is better to just form it in your own state

@tiawint Жыл бұрын

Great info! How do you research a potential name?

@ElizabethPW Жыл бұрын

I'd do something similar as a trademark search kzfaq.info/get/bejne/hNiIfrCfndKbcac.html and then also search in the biz records for the state where I'm forming the LLC

@janiceramos9100 Жыл бұрын

Thank you, how would I change the registered agent for my LLC formed in New Mexico? Legalzoom assigned a registered agent to my LLC without my consent and now they say I am the one that has to make the change myself.

@ElizabethPW Жыл бұрын

New Mexico has online filing portal.sos.state.nm.us/BFS/online/ - you'd want to file a Change of Registered Office/Registered Agent

@courtneyholmes9064 Жыл бұрын

If you don't let them get your ein# then how does the irs know its an llc do you need to wait until the llc is formed

@ElizabethPW Жыл бұрын

Ah I just get the EIN when the LLC is formed, yes

@vaughanjalinen7235 4 ай бұрын

Hi - You filled in your own office address - but that does not become visible on the internet or to the state, does it? You've been a big help by the way, in my process so far of preparing to form an LLC.

@ElizabethPW 4 ай бұрын

The company principle office gets in the public file, yes. In my case, I used Northwest to provide that office address.

@tago87 10 ай бұрын

Hi Elizabeth. I used Northwest to create my LLC company in New Mexico too. The problem is that when I'm trying to use the company address (from the SS-4 form) for a Mercury Bank account they tell me this "We're unable to accept registered agent addresses" . I'm from Argentina (non-resident and without SSN) that's why I choose that bank (well is not trully a Bank but is online). Have you any other alternative for banking? . For other hand I notice that NM has a portal if I want to change my LLC company address. Thanks!

@ElizabethPW 10 ай бұрын

I don't know of any banks who will accept just a RA address. Maybe some will accept a virtual mailbox? I don't know. The good part about Mercury is they can accept owners who are not in the US -- other US banks require the owner to show up in person in the US to vertify their identity.

@tago87 10 ай бұрын

@@ElizabethPW I already sent the account request yesterday. I put my personal address and as proof my driver's license. I don't like it too much (mainly because it exposes my personal address). The virtual office address is the other alternative. Thanks!

@hamzanabil8822 7 ай бұрын

@@tago87mercury will accept your personal address because that s laterally what they are after.

@andrew-isac Жыл бұрын

At @13:35 I notice the phone & email say none, shall i create business email & phone before registering so it is added to the llc in the documents at the state? Or is it just optional Also i m curious since I didnt notice in the tutorial there has been a place to input email and phone of business in northwest Please advice

@ElizabethPW Жыл бұрын

Phone is usually optional (occasionally required for licenses and permits). But email tends to come up and you want to get any notices via email, so it is more about whether you are okay using a personal email for this (and have that potentially be public)

@andrew-isac Жыл бұрын

@@ElizabethPW thank you very much , i m just curious since I didnt notice in the tutorial there has been a place to input the business's email and phone of business in northwest ( it only seen as none in the article of organization in the video ) but i dont see where we should fill it in for northwest to register them in the 1st place with the state! , Please advice Elizabeth , thank you very much

@LDubs_888 Жыл бұрын

Hi Elizabeth! I went ahead and signed up with Northwest for my LLC, but I decided to file for my own EIN. I followed your video to sign up through Northwest. For the EIN application, should the address I am located at be my own address OR the Registered Agent address? And the same question for the mailing address?

@ElizabethPW Жыл бұрын

For the EIN, I usually list the actual physical address because it is important to make sure you can get communications from the IRS. You could put the RA address as your mailing address if you'd like to get mail there

@keronwilliams5392 14 күн бұрын

@@ElizabethPW just for clarification purposes, the physical address would be my actual home address right? And for the mailing address I put registered agent address and how would I get these mails if I don’t sign up to mail forwarding feature that northwest offers?

@camerongarcia3128 Жыл бұрын

you talked about adding another manager. Question is "Can you add your self tgwice using an old nickname for the 2nd managers name?

@ElizabethPW Жыл бұрын

The manager's name should be their legal name, so it would just be on there once

@suzzetteortiz2556 9 ай бұрын

Hi, question do you need a virtual mailbox when you’re using North West since they’re using their address

@ElizabethPW 8 ай бұрын

NW lets you use their address for some minimal purposes, so it depends on how much mail you get

@epicmusic8334 6 ай бұрын

I created my LLC in New Mexico as a single member with Northwest, I am a non-US resident and have not received my EIN to date. How long will it take? Do you think I will have to file Form 1120 and 5472 next year?

@ElizabethPW 6 ай бұрын

If you hired Northwest to get the EIN, I'd recommend calling them 509-768-2249 to get the status

@junebanks4163 10 ай бұрын

Hey did you get any info on their Trademark Services ?

@ElizabethPW 10 ай бұрын

Ah I have not yet

@sarahwynn5366 Жыл бұрын

Can the cost of setting up an LLC be written off as a business expense?

@ElizabethPW Жыл бұрын

Yes but how it gets written off depends. For "start up expenses" sometimes they can get written off all at once and sometimes they have to be "amortized" over multiple years

@hamzanabil8822 7 ай бұрын

thank you i guess except the 200 dollar ein scam the rest of their offer is pretty acceptable compared to others.

@apexinc5799 2 ай бұрын

New subscriber here. I live in California, but want to set up my LLC for my KZfaq channel in Wyoming because it offers anonymity. I need to remain anonymous. Can you receive a google Adsense pin postcard via their registered agent service in Wyoming without any problems? This is very important. It is also important that I will easily be able to set up a bank account that I can link to my KZfaq google Adsense to get paid. Do you know individuals who have been in CA but set up an LLC for their KZfaq channels in WY with Northwest? Is Northwest Registered Agent the best for this? All of these registered agent services seem to have bad reviews, and I am pulling my hair out trying to figure it out. Any other details that I should know about? Would it be better or cheaper to form an LLC in New Mexico as you did? Thank you!

@ElizabethPW 2 ай бұрын

Hm I'm not sure if cheaper for NM or WY -- you'd need to price everything (filing costs and RA costs). Totally fine to get the RA in WY. Hm for adsense, it cannot be a virtual (PMB) address so I don't know if that will work, because google checks the address. You may try asking Northwest about it.

@apexinc5799 2 ай бұрын

Thank you for your reply. You're awesome! This process is so confusing and frustrating. I going to set up an LLC in Wyoming via Northwest registered agent. I am doing this as I want to guarantee total anonymity. This is very important to me. I was told that the address of Northwest can not receive the adsense pin postcard that will eventually be sent to verify my account. When I verify my (organization) identity with Google AdSense, do I have to show my ID & use my real name? Does the address on the LLC paperwork (that is the address of my registered agent) need to be the address that I provide, or can it be a different address where I am able to receive a pin postcard? If the address must be the same, can I change the address before the pin postcard is sent? Do I need to show the LLC paperwork or would a EIN suffice? I just don't want to spend all of the money on setting up the LLC in Wyoming via Northwest if this is going to present more problems down the line. Thank you so very much for your advice. Be well