Thank you for your response. I just need to check to determine if you could perhaps benefit from a Nevada or Wyoming LLC, but if you are going to be operating in IA, you are going to need the IA LLC.
No worries though, forming an LLC in IA is pretty simple and you will have no problem figuring it out. You will need to file simply Articles of Organization for the IA Domestic LLC with the Secretary of State
's Office (see: http://sos.iowa.gov/business/FormsAndFees.html). You can also file them online when completed at: https://sos.iowa.gov/file/origination/index.aspx.
The completion of the Articles of Organization, you should be able to easily navigate as they are not very complicated. The purpose of your business you should keep very broad as "to conduct all business that is lawful within the State of IA and the United States, particularly deconstruction and sale of used building products."
Once you file for the LLC, your next step is even easier, it is to obtain an EIN from the IRS, which you can get at the IRS website, http://www.irs.gov and you can get in about a minute without any fees.
Once you have your EIN and you receive your certificate of organization from the Secretary of State, you can then open a bank account, which you need to do, as you need to keep your personal money and your LLC funds separate in order to receive the maximum protection from personal liability the LLC provides. You also, because of your business you are doing, will have to have insurance
to protect you from liability (failure to have proper liability insurance
can cause the court to find the owner of an LLC personally liable for any damages).
Technically, you should also pay yourself as an employee
, even though most accountants will tell you that you save money by not doing so, because if business dies off and you were paid as an employee and unemployment taxes paid, you would be eligible to collect unemployment benefits. However, if you do not pay yourself as an employee, you would not be entitled to unemployment benefits. Same thing with workers compensation
, you are in a business where injuries can occur and even though you are an owner and not mandated to have workers compensation on yourself, you should do so for your protection.
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