Limited liability company
A limited liability company, also known as an LLC, is a form of association or a business entity that allows you to carry commercial activity under the state law. LLCs combine characteristics of both corporations and partnerships which are also two popular business entities.
With corporations, the LLC has in common the limited liability, meaning that as an owner or member of an LLC you are not personally liable for company debts. With partnerships, LLC is similar through its flexibility in operations and by its pass-through tax system which means that LLC profits are not taxed directly, but only after they have been passed through to LLC owners and as a part of their individual incomes.
The time to decide on your tax treatment after you have formed your company is 75 days. Even if it might seem like a simple decision, taking into consideration that it will influence your business activity for a long time, it is better to consult an accountant before deciding.
You can choose to be your own registered agent, but before making this decision you need to take into consideration that you will have to be available during regular business hours to receive business documents and your personal information will go on public record. Another option is to use the services of a professional registered agent which can do all these for you.