{"id":196,"date":"2009-12-17T12:06:07","date_gmt":"2009-12-17T16:06:07","guid":{"rendered":"http:\/\/www.dev.atiqbd.com\/what-operational-changes-should-my-business-make-after-filing-as-an-llc\/"},"modified":"2015-09-16T01:25:56","modified_gmt":"2015-09-16T01:25:56","slug":"what-operational-changes-should-my-business-make-after-filing-as-an-llc","status":"publish","type":"post","link":"https:\/\/www.standardlegal.com\/blog\/what-operational-changes-should-my-business-make-after-filing-as-an-llc","title":{"rendered":"What Operational Changes Should My Business Make After Filing as an LLC?"},"content":{"rendered":"

Setting up a new Limited Liability Company (typically called an LLC) offers the business owner(s) protection from potential creditors and other claims (i.e. it insulates your personal assets). But these protections will only exist if the business operations are conducted under the Limited Liability Company name in all respects.<\/p>\n

As such, it is very important that Company money be kept separate from any funds that you maintain in your personal bank accounts (or accounts of other entities), and that you do not place your personal funds into the new business bank account, or otherwise commingle funds. <\/p>\n

The business must be kept separate and distinct from any other businesses that you operate, and separate and apart from your personal assets.\u00a0 If you do not maintain this separation of assets, the liability protection of the LLC could be lost.<\/p>\n

With the formation of a new Limited Liability Company, all operations of a business should be conducted under the name of the Limited Liability Company going forward.\u00a0 As such, bank accounts (checking, deposit, escrow and others) should be established in\/under the name of the Company, and using the Federal Tax Identification Number (vs. a Social Security number).<\/p>\n

Further, all contracts with customers and all purchase orders from or to your vendors should be done under the name of the new Company and not your name personally (nor any prior business names), all invoices and other business accounts (e.g. suppliers, utility bills, insurance coverage, etc.) should be set up for and issued to the new Company, all letterhead and business cards should contain the name of the new Company and all payroll to employees should be paid to employees under the name of the new Company.<\/p>\n

In other words, all aspects of the new business should be conducted under the name of the Limited Liability Company in all ways.<\/p>\n

If you need to sign contracts or other documents, sign them as ‘John Doe [name of the manager or member], Authorized Member of [the Limited Liability Company].’<\/p>\n

All invoices or statements that you issue to your customers should also be under the name of the Limited Liability Company.\u00a0 Advertising, marketing, licensing, and business promotion should be for and under the name of the Limited Liability Company.<\/p>\n

Other information and details can be found within the overviews and information provided within Standard Legal’s LLC legal forms software package<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Setting up a new Limited Liability Company (typically called an LLC) offers the business owner(s) protection from potential creditors and other claims (i.e. it insulates your personal assets). But these protections will only exist if the business operations are conducted under the Limited Liability Company name in all respects. As such, it is very important … Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-196","post","type-post","status-publish","format-standard","hentry","category-limited-liability-company-llc-questions"],"yoast_head":"\nShould My LLC Business Operations Change After Filing?<\/title>\n<meta name=\"description\" content=\"Ask Standard Legal: What Operational Changes Should My Business Make After Filing as a Limited Liability Company?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.standardlegal.com\/blog\/what-operational-changes-should-my-business-make-after-filing-as-an-llc\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" 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