Let’s talk about the mechan­ics of cre­at­ing Mr. LLC. Here’s how it works most of the time:

  • Meet with your attor­ney and CPA to fig­ure out your busi­ness struc­ture and tax election
  • Check your busi­ness name for any trade­mark violations
  • Con­sider fil­ing a secu­ri­ties exemp­tion if you have more than one owner ($50)
  • If you’re a sin­gle mem­ber LLC, draft and sign your oper­at­ing agree­ment. If you’re a multi-member LLC, nego­ti­ate and sign your oper­at­ing agree­ment. It’s bet­ter to do this before you file any­thing with the state in the event that you’re unable to reach an agreement
  • File arti­cles of orga­ni­za­tion with the state of Alaska and pay the fil­ing fee ($250)
  • File your ini­tial bien­nial report
  • Pur­chase a busi­ness license for your LLC ($50)
  • Enter reminders for good stand­ing require­ments such as bien­nial report fil­ings and busi­ness license renewals
  • If you have more than one LLC, sign inter-company ser­vice agreements
  • Trans­fer assets to the appro­pri­ate LLCs
  • Open up bank accounts for your LLC, cre­ate the books for each LLC, cap­i­tal­ize the LLC with money, promis­sory notes, ser­vices, etc., and other items to make sure that you pro­tect and main­tain the lim­ited lia­bil­ity shield.