Ha unfortunately the state/gov doesn't provide APIs so what we've done is build as much automation as we can around the "manual pieces"
It's programmatic + fully automated for the platform to call our API -> behind the scenes on our side, most of the end to end process is automated with some "human in the loop" reviews at key points for filings or taxes.
Hey great question, the goal with this is to enable a platform to offer this to their users easily in-app (vs having their user need to leave to go DIY on the state website).
One example use case: if you are a bank and your user needs an LLC + EIN to open an account with you, instead of giving them a guide and saying "here is what you need to do" -> they could use our API -> offer formation + EIN directly in app -> seamless process to now onboard.
Hey, Arjun here, CEO of doola (Business-in-a-Box for LLCs) (YC S20)
If you are a solopreneur or run an Ecom business and are looking for support with dedicated bookkeeping (including a human bookkeeper), check out https://www.doola.com/bookkeeping/
Happy to support anyone looking for help with bookkeeping + business tax filings for their business going into the new year (we support Non-US tax filings as well if you are a Non-US founder)
Hey! We're beginning to onboard customers, it's not completely "self-serve" yet and even in future, we will have to see if we can bank certain types of companies (ie we can only do LLCs, C Corps, DAO LLCs, no sole props / trusts) and we can't serve money service businesses, adult entertainment, gambling etc!
Hey! If you're interested in other banking options check out https://www.doola.com/rewards. Feel free to email us at hello at doola dot com as well and we can see if we can intro you to the banking partner!
Thanks Jack You are 100% correct, people don't really want an LLC, they want a way to transact globally in the US dollar and to do that they need a US bank account + US payments.
We work with many different banking and payment partners (https://www.doola.com/rewards) and not only help folks go from 0 -> bank account but also keep the LLC compliant in the background (annual compliance, IRS tax filings, and more!)
Hi! Arjun here from doola. This is spot on, we have worked with 1000s of customers and we believe we're experts BUT that doesn't justify not having enough value in our offering and we are always on the lookout / prowl to add additional services/products to our suite to truly provide a "one-stop-shop" offering!
Hey! Responded to steves comment above with more color on what is included in our plan (tldr we do include IRS tax filing + annual compliance and more) but it is again very valuable for us to see that we are not messaging this clearly enough on our pricing page!
Hey steve, arjun here from doola, this is really valuable feedback because *we do your taxes (form 5472/1120) AND your annual compliance as part of our plan! Our messaging / copy clearly doesn't indicate this / message this properly so we are going to implement a fix asap that improves this.
As to justifying the cost for our plan, if you factor in the cost of having a lawyer/CPA do your IRS filings (there can be heavy fines up to $25K for not filing or incorrectly filing form 5472 https://www.doola.com/blog/filing-requirements-for-foreign-o...) and certain CPAs can charge well upwards of $1000 for this filing alone + your annual report with the state + registered agent, US address, our entire perks and rewards database (https://www.doola.com/rewards), and access to us on a monthly bases for free tax consultations, LLC amendments etc, we've heard there is lots of value BUT we are always on the lookout to add more and as a little sneak peek, stay tuned for some bookkeeping, payroll + banking stuff we have in the works (note we can help with all three of these things now but we do it through partners, we have some ideas to more tightly integrate / embed this in to our offering to provide even more value and a better customer experience).
Yup, we at doola have a Delaware C Corp but because we "do business" in NYC (physical office, HQ is there, employees there) we have to do the "foreign LLC filing" to stay compliant and in the clear.
Hey biztos, arjun here from doola, you're 100% correct here. A common mistake people make is form an LLC in a state that they don't live in. They then have to "foreign qualify" in the state they "do business in" = the state they live in. The definition of "do business in" is essentially you have a physical presence there = you live and work there, have a physical office there, W2 employees etc.
The best advice to "what state should I form my LLC in?" is:
- IF you live in the US: form in the state you live in (to avoid the foreign qualification in another state).
- IF you don't live in the US: you can choose any state. The most popular states we see at doola are Delaware and Wyoming but Wyoming is the most popular due to the lower ongoing annual fees ($50 to WY vs $300 to DE) and Wyoming has demonstrated it's willingness to innovate when it comes to regulation (like the DAO LLC legislation passed on 7/1/21.)
It's programmatic + fully automated for the platform to call our API -> behind the scenes on our side, most of the end to end process is automated with some "human in the loop" reviews at key points for filings or taxes.