NEW COMPANY (LLC OR CORP)
A new company, whether structured as a Limited Liability Company (LLC) or a Corporation (Corp), involves the establishment of a legal entity for conducting business activities. This process typically includes obtaining a Tax Identification Number (TAX ID #), registering with the state, and acquiring a formation certificate.
SIMPLE COMPANY
A simple company refers to a streamlined business structure designed for smaller enterprises or startups. This type of business typically involves fewer administrative requirements and less formalities compared to larger corporations or LLCs. While the specifics may vary by jurisdiction, forming a simple company often entails basic registration with the relevant authorities and obtaining necessary permits or licenses for operation.
BOI REPORT
The Beneficial Ownership Information (BOI) Report is a vital component of regulatory compliance for businesses, aimed at enhancing transparency and preventing financial crimes such as money laundering and terrorism financing. This report requires companies to disclose detailed information about their beneficial owners, including individuals who ultimately own or control the business entity.
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