A Limited Liability Company (LLC) is a business structure that employs the pass-through taxation of a sole proprietorship, with the limited liability of a corporation. In these kinds of business formations, the proprietors are not individually responsible and as a result, can not be accountable for the company’s debts.
Nolo Reviews Overview
Good for new and growing businesses. Loses points for lack of customer support
- 3-tier pricing
- Includes lots of free resources and legal info
- Been in operation since 1971
- Fairly quick LLC set up times
- Nolo is excellent for people who favor offline legal support
- For a sum of money depending on the type of form, Nolo allows one to re-edit, duplicate, re-print as well as download the same form as many times as you wish.
- It also houses a gold mine of legal information on the internet (Nolo’s Legal Encyclopedia) that is easily understood and has step-by-step instructions on how to go about doing different legal tasks.
- Nolo provides a do-it-yourself approach which is great for business owners who prefer to take things into their own hands with the support of legal experts.
- Nolo also offers a free online lawyer search within the United States of America, and Nolo has a range of informational articles and guides that are free of charge.
- Nolo has no option for creating Non-profit organizations or Corporations.
- Nolo’s has a record of terrible customer service. The help desk couldn’t assist with certain tasks such as overbilling, editing, and invoicing.
- Navigating Nolo’s website has been a major source of complaint from people, as well as finding prices for the numerous services they offer. A lot of the links on the website redirect visitors to 404 error pages.
- Reviewers have claimed that there is no technical support for software purchases, therefore if something were to go wrong, one would have to find a solution on their own.
What is an LLC Formation Service?
To aid with the flawless formation of an LCC with established state laws in mind, there exist companies known as Registered agents, to put existing businesses or newly formed companies through the procedure of LLC formation.
A registered agent executes the obligations of obtaining crucial legal notices and tax reports on behalf of a limited liability company. These important documents often include tax reports sent by the state’s department of taxation, notice mailed by the Secretary of state, litigation notices against the company, summons, and subpoenas.
Many pre-existing or newly formed companies are often ignorant about the objectives of registered agents and as a result, many companies choose to be their own registered agents- to their detriment, of course. However, there are a plethora of reasons why choosing a registered agent is better.
One of the main reasons to have a registered agent service is for the purpose of delivering crucial mail if you’re away on vacation or out of the country, for example. Another role the registered agent plays is by acting as a liaison between the LLC and the state department. When the local government wants to send you a legal notice, they look up the information of your registered agent on record for your LLC before dispatching the mail.
Nolo LLC Formation Service
Nolo is a legal website that deals with delivering access to books and ebooks, software, and legal forms. Nolo is also a registered agent that assists business owners in starting a Limited Liability Company or incorporating a new business.
As a brand, Nolo has three LLC formation packages, these include the:
- BASIC PACKAGE.
- STANDARD PACKAGE.
- EXPRESS PACKAGE.
THE BASIC PACKAGE
The Basic Package costs $49 also with state fees and takes 2-3 weeks for the standard filing. Its features include:
- A thorough name validation of your business after being provided with three pre-researched options.
- Filing for your Articles of Organisation and certificate of formation. Your LCC gets formed as soon as this is received by the LCC filing office.
- Automated Error Checking via their LLC Interview for widespread errors, and
- A Guide to Formalizing one’s Limited Liability Company. The guide includes steps on implementing your LLC documents, registering for state taxes, filing the annual account and holding meetings.
This LLC formation plan is highly suitable for low-income earners with little or no business experience.
THE STANDARD PACKAGE
The Standard Package costs $149 In addition to state fees. This plan similarly takes 2-3 weeks for its standard filing and it comprises the following features in addition to the features of the Basic Package:
- Nolo prepares an IRS (Internal Revenue Service) form SS-4 to apply for your Employer Identification Number (EIN).
- Nolo takes care of everything and sends them via email. All one then has to do is sign and send to the IRS.
- Nolo further gives more than thirty forms and contracts to the client, including Non-Disclosure Agreements, Sales Contracts, Minutes of Limited Liability Company meetings and much more.
This package is suitable for small and medium scale business owners.
THE EXPRESS PACKAGE
Like the others, The Express Package costs $299 along with state fees and requires 2-3 weeks for standard filing. This is the most adequate of all packages because, along with what both the Basic and Standard Packages offer, The Express Package includes:
- A personalised Limited Liability Company records kit and seal. This is a lovely LLC record binder that is customized with your company’s name. It has a transfer ledger, twenty customised membership certificates for one’s LLC and it furthermore includes a seal for imprinting your company name, state and date of formation on important documents.
- Priority Rush Filing. With this special feature, Nolo readies one’s Articles of Organisation and submits it to the filing office within one business day. You will receive your precise Limited Liability Company documents two to three business days after unless there’s an unforeseen delay from the state office. Unlike the other packages, with the Priority Rush Filing, it takes two to three days to receive your complete Limited Liability Company documents.
This is suitable for large businesses and expanding businesses.
Frequently Asked Questions
What is the cheapest state to form an LLC?
The Cheapest states to form a Limited Liability Company are Arkansas, Colorado, Hawaii, Iowa, Oklahoma, and Mississippi. In these states, a corporation formation fee could be as low as $50.
How is Nolo’s customer service?
Quite a handful of people have complained about Nolo’s inadequate customer service. The help desk was unable to solve a ton of overbilling, editing and apparently, printing issues. A lot of complaints seem to stem from attorneys who complain about the quality of leads from Nolo.
Can I trust Nolo for LLC formation?
As a matter of fact, yes you can. Recently, Nolo was given an A+ rating by BBB. Nolo has been in operation since 1971.
LegalZoom vs Nolo: Which one is better?
Nolo and LegalZoom are both online legal services websites that help with Limited Liability Company formation and other legal processes related to LLCs. LegalZoom is geared towards more LLC formation, while Nolo, which although also offers the same service, is more geared towards providing legal resources.
LegalZoom’s pricing system is a bit distinct from Nolo’s, each of its benefits comes with its package option and varies depending on what services are being offered as well as which state one resides.
On the other hand, Nolo pricing is more fixed, it has a price range of $25 to $40 for their legal resources (physical and/or cloud-based resources such as books and software), it has a Business Forms Bundle which contains a variety of legal forms one needs to start and run his or her business; it also has package options for its LLC formation services which have been explained above.
While LegalZoom delivers customers copies of documents that have been filed at their behest, It also has no monthly membership so one does not have to worry about unexpected credit card charges or additional expenses.
LegalZoom offers a free newsletter for tips and more information. It also has a mobile app version for both iOS and Android operating systems. LegalZoom offers a sixty-day satisfaction guarantee and customers have reported that the help they received from customer service was superb, the customer service representatives were empathetic to their plight and helped out to the best of their abilities.
LegalZoom’s website, compared to Nolo’s, is much easier to navigate. Customers have said that navigating the website was straightforward. Even though LegalZoom’s pricing is unique compared to other online legal sites, customers have reported that the rates are logical for the services that are provided; ample value for the money.
Customers also loved the fact that complicated legal matters were taken off of their hands and handled by legal experts. This gave them the moment and space to focus on other matters concerning various aspects of their businesses rather than worrying about paperwork.
Is Nolo Worth the Money?
While Nolo does offer a good LLC formation service, like everything there is, there are Pros and Cons of using Nolo.
However, do note that most of the negative reviews regarding Nolo were written by lawyers who use Nolo to get leads and end up getting bad leads, not business owners.
Additional Tips for an LLC Formation:
- Hire a professional who understands you and can provide what you want.
- Meet a legal expert for advice and counseling as online legal sites like Nolo and LegalZoom can not offer complete legal advice.
- Where you live is key to the process, make sure you read up on annual fees and other state regulations regarding setting up an LLC.
- Always ensure you file your taxes accurately on time.