INITIALREPORTS
What information has to be included in the Initial Report?
When and if an initial report is required varies from state to state and entity to entity. Generally, it is a separate filing with additional information that can be filed concurrently with the formation articles or is required within a certain time period following the formation.
For example, in Nevada you can file the initial report, called an “Initial List” when you file the formation articles for an LLC or corporation. An Initial Report asks for the manager(s) or member(s) of the LLC, depending on management structure, and their address. For a corporation, the initial list asks for the director(s) and officer(s) as well as their address. You may also need to include the Registered Agents name and address.
What is the process for filing initial reports?
The form can be obtained from the state, or often it can be filed online
Generally, a fee is associated with filing the initial report, but not always.
Some states do not require an initial report because the formation filing requires the same information that would be included.
FEATURED IN
SOLUTIONOVERVIEW
The Anderson Advantage
Preserve
Individualized tax planning to help you keep as much of your money in your pocket as possible.
Protect
Asset protection strategies and solutions to shield your assets and limit personal liability.
Prosper
Retirement and financial planning and wealth management strategies to maximize what you already have.
ANDERSONADVISORS
Why Trust Anderson For Your Business Structuring Needs?
01
Comprehensive Strategies
Tailored To You
The wrong setup of your business now could mean more taxes and liability later. That’s where we’re really different. We take a comprehensive look at your situation not only from a legal asset protection perspective but also from a tax savings and financial planning perspective.
02
Experience You
Can Trust
Unlike other law firms, our consultants consist of attorneys and planners who travel nationwide to speak at conferences and seminars on subject matters concerning asset protection, taxes and business planning. Since 1993, we have taught tens of thousands of people how to make better business decisions and properly prepare to meet their goals.
Real Comments from Real Clients…
Anderson’s asset protection strategies have saved me millions.
Literally, millions.
Gerald C.
Real Estate Investor
CLIENTVOICES
Take a look at these actual client stories to see how much of a difference an Anderson plan can make.
$2 million lawsuit reduced to $100,000 settlement“
We set up a Nevada LLC for a client with significant savings. She was sued 3 years later for an environmental claim stemming from property she owned over 30 years before. Plaintiff wanted over $2 million in damages for the cleanup. After we disclosed that her assets were protected by a Nevada LLC and a HELOC on her residence Plaintiff accepted less than $100k in a settlement.
Avoided $5.5 million judgement
A bank wanted to pursue one of our clients for a deficiency judgement ($5.5 million) for commercial real estate he lost in foreclosure. Once the bank found out how we protected all of our clients remaining assets with LLCs and a Nevada holding LLC the bank’s attorney stated “we decline to seek a deficiency judgment given the complicated structure you have weaved for yourself.”
$1 Million in personal liability avoided
Our client purchased property in a LLC and it was later discovered the soil beneath the property was contaminated. The state sued the LLC to clean up the land. Client walked away from the property without any personal liability. Without the LLC he would have been on the hook for over $1 million.
Your Custom Entity Blueprint
Speak with an Anderson Professional Advisor to get your business planning blueprint to determine the best entity structure plan for you and your unique situation.