6 core concepts
The vocabulary every founder needs.
Entity types
LLC vs Corp vs Partnership
Choose how your business is legally organized.
Registered Agent
Required in every state
Designated person/company to receive legal documents.
EIN
Federal tax ID
Required for bank accounts, hiring, tax filings. Free from IRS.
Annual Reports
State-required filing
Periodic filing to maintain good standing. Most states require.
Operating Agreement
Internal governance doc
Defines ownership, voting, distributions. Required in 5 states.
Franchise Tax
State tax on entity
Distinct from income tax. Varies by state and entity type.
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