Entity Rescue

We fix $200 incorporations

We’ll repair poorly formed entities and give them new life.

Filing with the appropriate state department is the easy part of forming an entity – It isn’t all there is. If you tried to set up a company on your own and ended up with a single piece of paper, we can help.

Firstly, we need to discuss what you intended the company to do. We want to ensure that you have the right entity with the correct tax election.

Then we start the repair.
If the entity is not suited to what you need, we can discuss alternative uses for that entity. Sometimes all you need is to change the name and repurpose the company. We can prepare the resolutions to accomplish this, file the documents to amend the name, and prepare a new minute book for the entity. And, of course, we can set up the appropriate entity for your original intended purpose.

If the entity is correct but the tax election is wrong, we will see if it can be corrected. If it can, we will prepare the IRS documents necessary to change the election and let you know when they can be filed. If you are missing an Employer Identification Number for your company, we can obtain an EIN from the IRS so you are not running your business using your SSN.

Next, we will check to ensure that your entity is in good standing with the state. If it is, we can move to the next step. If not, we will determine what it will take to bring it current and ask you for a decision. Bringing a company current can be expensive.

Lastly, we will prepare a minute book for your entity with the appropriate agreement
to define the rules by which you will run your entity. Without an agreement adopted by the owners, the company must be run according to the statutes of the state. These statutes may or may not suit your needs.  Consequently, it is important that you have an agreement that reflects how you want your company to be run. We will include in your book pro forma minutes, share certificates or certificates of ownership and a company seal. If you sign up for minutes service at the same time, we will coordinate with our paralegal service to place any catch up minutes into the book before it is shipped. You will then be invited to walk through your book to learn about its contents, run your first meeting, issue your certificates, and learn what it will take to keep your company strong.

And you receive a one year membership in our community, just like our entity formation clients. In addition to on-going structuring help, you receive invitations to monthly webinars and laser calls FREE. When you are stuck, you have access to our Q & A by email or phone. And if we can’t answer a question for you, we’ll refer you to someone in our network who can.

Once your entity is rescued, you are ready to keep it updated.  So don’t forget our Monthly Minutes Service.

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