Here’s what you need to know about Business Structure in Pennsylvania…
In this episode of Coffee with Carl, attorney Carl Zoellner summarizes his workaround for Pennsylvania wait times when starting a business.
You may not believe in ghosts, but have you ever sensed an entity present?
Not the 6th sense kind either, we’re talking about the business kind.
So, in today’s issue we’re going to look at the filing of Pennsylvania entities.
Why the PA? Well, It’s gotten to the point (in Pennsylvania) where on average, you’re looking at five to six weeks to get an entity filled.
But there is an expedited process out there for those of you struggling with this.
I had a client who was looking to close on a property, had a lender at a commercial loan and was looking to close in a business entity.
Given the property timeline, we didn’t have 5-6 weeks.
The workaround we used?
An input and expedite option available in Pennsylvania.
We put all the information together and then used a courier service, in order to do that in-person expedited option.
Quick note, it’s not going to be the cheapest option because you’re going to be paying the cost of the courier and the expedite, but ultimately, if you’re in a pinch and it makes sense when you run the numbers, it could be a huge game changer.
Given quick deadlines, there’s usually a couple of workarounds you can look at.
Pennsylvania is the only state that I can think of that really considers things differently from this perspective. It’s one of those states that’s on the rise of being a more touchy state to work with.
Short post today, but I hope it helps!
And, if you haven’t already please, like and subscribe to all your friends and we will catch you on the next episode of Coffee With Carl.
As always, take advantage of our free educational content and every other Tuesday we have Toby’s Tax Tuesday, a great educational series. Our Structure Implementation Series answers your questions about how to structure your business entities to protect you and your assets. One of my favorites as well is our Infinity Investing Workshop.
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