To continue this series of posts, your next screen on Legal Zoom asks you to provide your corporation’s address. That’s pretty self-explanatory, but its next question might not be. It involves defining the corporation’s registered agent — in other words the individual who will be identified on public record as the “stakeholder” for the company.
Legal Zoom offers an upsell option here, where they can act as your registered agent on your behalf, although this comes with a hefty annual price. In most cases, the person filling out this form on Legal Zoom would probably choose to be their own registered agent. And if you choose the latter option, as I did, you have to provide the address for the registered agent, which is typically the same address as the corporation’s.
The final question in relationship to addresses and registered agents is another up-sell option Legal Zoom calls their “Compliance Calendar” which comes with an annual fee of $69. According to Legal Zoom, their Compliance Calendar automatically notifies you of important state and federal deadlines and tax requirements. Yes, like most service companies, Legal Zoom charges nominal fees for completing steps you can complete yourself for free – that’s the cost of knowledge and convenience.
Stay tuned next week as we get into the fun stuff — common stocks, fiscal years, and corporate minutes…