Legal Information
General information about legal entities for Squads is outlined here.
You and your squad members ultimately determine whether or not you need a legal entity for your squad. Please note that creating a legal entity is not required to create a Squad. Contact your lawyer to make a decision.
Here are the use cases to operate your Squad as an LLC:
- Limits Squad members' legal and financial liability
- Supports tax filings
- Form multiple LLCs with different operating agreements
- Instant, no-cost creation of different legal entities for different Squads
A Delaware Limited Liability Cooperation ("LLC") is one of the most widely-used legal entities in the US. The LLC structure limits its members' legal and financial liability, and is generally very flexible, with little governance and administrative paperwork.
In partnership with doola, Lore can help you create a Delaware LLC for your Squad. The Starter plan begins at $297/year + State fees.
You can also email [email protected] for a more white-glove experience or schedule a free consultation through this link.
For help with filing taxes or other tax-related support, please consult with your tax advisor. If you set up a legal entity through doola, and paid for their Total Compliance Plan, they will provide quarterly Tax consultations and they will file your IRS Business tax return for you. Please contact them at [email protected].
Last modified 2mo ago