biz: add entity-setup.md for Operation Get A Job
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operation-get-a-job/entity-setup.md
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operation-get-a-job/entity-setup.md
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# Entity Setup — Wyoming LLC Formation Checklist
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## Why Wyoming?
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- No state income tax
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- Strong privacy protections (no public member disclosure required)
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- Low annual fees ($60/year registered agent + $60 annual report)
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- Business-friendly courts
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- Fast online filing
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---
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## Step 1: Choose Your LLC Name
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- [ ] Decide on firm name (suggestions below)
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- [ ] Search Wyoming Secretary of State name availability
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- Link: https://wyobiz.wyo.gov/Business/FilingSearch.aspx
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- [ ] Ensure matching domain is available
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### Name Suggestions
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- Whitestone Engineering LLC
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- Whitestone Labs LLC
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- Hermes Systems LLC
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- Whitestone & Fleet LLC
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- Sovereign Stack LLC
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---
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## Step 2: Appoint a Registered Agent
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You need a Wyoming registered agent (physical address in WY for legal mail).
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### Recommended Registered Agent Services
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- **Wyoming Registered Agent LLC** — $60/year (cheapest, reliable)
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- Link: https://www.wyomingagents.com
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- **Northwest Registered Agent** — $125/year (premium service)
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- Link: https://www.northwestregisteredagent.com
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- **ZenBusiness** — $199/year (bundled with formation)
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- Link: https://www.zenbusiness.com
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**Recommendation:** Wyoming Registered Agent LLC at $60/year. No frills, gets the job done.
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---
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## Step 3: File Articles of Organization
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- [ ] File online with Wyoming Secretary of State
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- Link: https://wyobiz.wyo.gov/Business/FilingSearch.aspx
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- Click "File a New Business"
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- [ ] Filing fee: **$100** (online) or $102 (mail)
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- [ ] Processing time: 1-2 business days (online), 2-3 weeks (mail)
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### Information Needed
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- LLC name
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- Registered agent name and address
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- Organizer name and address (can be the registered agent)
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- Management structure: Member-managed (choose this)
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---
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## Step 4: Get Your EIN (Employer Identification Number)
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- [ ] Apply online with the IRS (free, instant)
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- Link: https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online
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- [ ] Available Monday-Friday, 7am-10pm Eastern
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- [ ] You'll get your EIN immediately upon completion
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- [ ] Download and save the confirmation letter (CP 575)
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---
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## Step 5: Draft Operating Agreement
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- [ ] Create a single-member LLC operating agreement
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- [ ] This is not filed with the state but is essential for:
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- Bank account opening
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- Liability protection (piercing the corporate veil prevention)
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- Tax elections
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### Free Template Sources
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- Northwest Registered Agent provides one free
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- LawDepot: https://www.lawdepot.com
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- Or have an attorney draft one ($300-500)
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---
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## Step 6: Open Business Bank Account
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### Recommended: Mercury Banking
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- Link: https://mercury.com
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- [ ] Apply online (takes 1-3 business days)
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- [ ] Documents needed:
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- EIN confirmation (CP 575)
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- Articles of Organization
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- Operating Agreement
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- Government-issued ID
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- [ ] Benefits:
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- No monthly fees
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- No minimum balance
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- API access for automation
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- Virtual debit cards
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- Built-in invoicing
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- Treasury for idle cash
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### Alternative: Relay Financial
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- Link: https://relayfi.com
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- Similar features, also startup-friendly
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---
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## Step 7: Set Up Invoicing & Payments
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### Option A: Stripe (Recommended)
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- [ ] Create Stripe account linked to Mercury
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- [ ] Set up Stripe Invoicing
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- [ ] Accept ACH (lower fees) and credit cards
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- Fees: 2.9% + 30¢ (card), 0.8% capped at $5 (ACH)
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### Option B: Invoice Ninja (Self-Hosted)
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- [ ] Deploy on your VPS (you already have the infrastructure)
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- [ ] Connect to Stripe for payment processing
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- [ ] Full control, no SaaS fees
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---
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## Step 8: Get E&O Insurance (Errors & Omissions)
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This protects you if a client claims your work caused them harm.
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### Recommended Providers
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- **Hiscox** — ~$100-150/month for tech consulting
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- Link: https://www.hiscox.com
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- **Hartford** — Similar pricing
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- Link: https://www.thehartford.com
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- **Embroker** — Tech-focused, may be cheaper
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- Link: https://www.embroker.com
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### Coverage to Get
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- [ ] Professional Liability / E&O: $1M per occurrence / $2M aggregate
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- [ ] General Liability: $1M per occurrence / $2M aggregate
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- [ ] Cyber Liability: Optional but recommended given the AI work
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**Budget: ~$150/month ($1,800/year)**
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---
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## Step 9: Tax Setup
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- [ ] Elect S-Corp taxation (Form 2553) if revenue exceeds ~$40k/year
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- Saves on self-employment tax
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- Must pay yourself "reasonable salary" via payroll
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- Use Gusto ($40/mo) or similar for payroll
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- [ ] Set aside 30% of revenue for taxes quarterly
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- [ ] File estimated quarterly taxes (Form 1040-ES)
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- [ ] Get a CPA familiar with LLCs ($200-500/year for filing)
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### Recommended CPA Services
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- Bench.co — Bookkeeping + tax filing ($300-500/mo)
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- Collective.com — Designed for solo businesses ($349/mo, includes S-Corp)
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- Local CPA — Shop around, $1-2k/year for everything
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---
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## Step 10: Professional Presence
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- [ ] Get a business phone number (Google Voice — free, or OpenPhone — $15/mo)
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- [ ] Set up professional email (Google Workspace $6/mo or self-hosted)
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- [ ] Order business cards (optional, Moo.com or similar)
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- [ ] Create LinkedIn company page
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- [ ] Update personal LinkedIn with firm title (Managing Partner / Principal)
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---
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## Total Startup Costs Estimate
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| Item | Cost |
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|------|------|
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| Wyoming LLC filing | $100 |
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| Registered agent (annual) | $60 |
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| EIN | Free |
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| Mercury bank account | Free |
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| E&O insurance (first month) | $150 |
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| Domain + email | $12 + $6/mo |
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| **Total to launch** | **~$330** |
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| **Monthly ongoing** | **~$160/mo** |
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---
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## Timeline
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| Day | Action |
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|-----|--------|
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| Day 1 | File LLC + order registered agent |
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| Day 2-3 | Receive LLC confirmation |
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| Day 3 | Get EIN (same day) |
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| Day 3 | Apply for Mercury account |
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| Day 4-5 | Mercury approved |
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| Day 5 | Set up Stripe, get insurance quote |
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| Day 6-7 | Insurance bound, invoicing live |
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| **Day 7** | **Ready to bill clients** |
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---
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*You can go from zero to invoicing in under a week. Don't let entity setup be a blocker — you can start conversations immediately and have the entity ready before you need to send the first invoice.*
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