If you are in the process of coming up with your own corporation, there are many regulations you have to comply with. One of the most confusing regulations for most people is complying with Registered Agent Services. Many people hear of this for the first time during registration of their liability limited company. A good thing is that it does not have to be so complicated. A business or individual can be sufficient.
Many proprietors keep asking whether they could fill their names as the statutory proxy. Well, the answer to this, is that you can add yourself as the proxy for your LLC. There are not many restrictions on the person to fill in that capacity. Besides the owner, it could be an employee or a hired service. The truth, on the other hand, placing your name as the statutory representative may not be a perfect idea.
Imagine a scenario where you are expanding your company to a neighboring state. With your name as the statutory representative, it means you have to be a resident of that state. This is the basic requirement for anyone who wishes to fill that capacity. Chances are, it was never in your plans to relocate. This may force you to move into that area. If not, you may have to find another alternative but yourself.
Out of the afore-mentioned, adding your name as a statutory representative can be potentially hazardous to you and your business operations. This is because you may not be fully available during business hours just in case some kind of communication comes in from the state or federal tax departments. It is for this reason that a good number of corporations choose to hire a registered service to fulfill this requirement.
While that would have inconvenienced your time, it also still solves one part of the puzzle. There is the other bit where this lawsuit is served in front of customers. In the current society of global connectivity, information can spread like bush fire. One customer posting this online can cause a lot of damage, especially when not properly represented. You will have to spend time and resources to vindicate your name.
While you can take pride in controlling the situation among your employees, you cannot control how your customers will think. In addition, you may not be in a position to control what they will do with such information. Once it gets in one of the social media sites or business forums that you are facing a lawsuit, the content might spread like bush fire.
There are many LLC out there whose owners are not known by the public. This is one of the ways through which business proprietors manage to keep their identities from the public. When on the other hand, you act as the statutory agent, your name and address will be a part of the public documents filed with the state. Anyone can easily access this and find you even at home.
You do not want to be sifting through mail every often to separate grain from chaff. You have much more on your hands towards stabilizing the company. In essence, an outsourced statutory agent would be the best choice for your company.
Many proprietors keep asking whether they could fill their names as the statutory proxy. Well, the answer to this, is that you can add yourself as the proxy for your LLC. There are not many restrictions on the person to fill in that capacity. Besides the owner, it could be an employee or a hired service. The truth, on the other hand, placing your name as the statutory representative may not be a perfect idea.
Imagine a scenario where you are expanding your company to a neighboring state. With your name as the statutory representative, it means you have to be a resident of that state. This is the basic requirement for anyone who wishes to fill that capacity. Chances are, it was never in your plans to relocate. This may force you to move into that area. If not, you may have to find another alternative but yourself.
Out of the afore-mentioned, adding your name as a statutory representative can be potentially hazardous to you and your business operations. This is because you may not be fully available during business hours just in case some kind of communication comes in from the state or federal tax departments. It is for this reason that a good number of corporations choose to hire a registered service to fulfill this requirement.
While that would have inconvenienced your time, it also still solves one part of the puzzle. There is the other bit where this lawsuit is served in front of customers. In the current society of global connectivity, information can spread like bush fire. One customer posting this online can cause a lot of damage, especially when not properly represented. You will have to spend time and resources to vindicate your name.
While you can take pride in controlling the situation among your employees, you cannot control how your customers will think. In addition, you may not be in a position to control what they will do with such information. Once it gets in one of the social media sites or business forums that you are facing a lawsuit, the content might spread like bush fire.
There are many LLC out there whose owners are not known by the public. This is one of the ways through which business proprietors manage to keep their identities from the public. When on the other hand, you act as the statutory agent, your name and address will be a part of the public documents filed with the state. Anyone can easily access this and find you even at home.
You do not want to be sifting through mail every often to separate grain from chaff. You have much more on your hands towards stabilizing the company. In essence, an outsourced statutory agent would be the best choice for your company.
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