N.I.L stands for (Name, Image and Likeness). College student-athletes now have the rights to monetize their Name, Image and Likeness, without jeopardizing their NCAA or NAIA eligibility.

Athletes who sign an NIL Deal, are athletes who are allowing a company or third party entity access to use their Name, Image and Likeness for the purpose of advertising and publicizing the company or third party's products and services.

A limited liability company, or LLC, is a business entity created under state laws which has the characteristics of both a corporation and a partnership. Like a corporation, the owners of an LLC are not personally liable for business debts. Like a sole proprietorship or partnership, an LLC has operating flexibility and is a pass-through entity for tax purposes. This means the LLC's profits are passed through and taxable to the owners of the LLC.

LLC charges are $0 + state filing fees to incorporate your business on the Zenbusiness Starter Plan.  Filing fees vary from state to state.

Recommendations such as an EIN and Operating Agreement, can be added with upgraded packages. 

There are also annual Federal and State fees and taxes, per state, that are tied to owning a Business. 

There is a lot at stake when you start your own business. An LLC is a crucial component to the safety and security of your personal assets. It helps to keep business and personal separate, so you are protected from any business debts, claims, lawsuits, etc., anywhere down the road. 

Here are some other benefits of an LLC:

• Flexible management structure
• Tax Breaks and Write-offs
• Personal Asset and Brand Protection
• Less-complicated to Form and Maintain
• Establishes your business as official

Orders are processed as they are received. However, clients that select Express Processing or Same Day Processing will have their orders processed before Standard Processing orders.

No. You do not need an attorney to form an LLC. You can prepare the legal paperwork and file it yourself, or use our professional business formation service through ZenBusiness. You will only need to answer a few simple questions online. Our partner, ZenBusiness, will take care of all of your paperwork, file the necessary documents with the state and even send your LLC documents and certificates.

To create an LLC, Articles of Organization must be filed with the Secretary of State or appropriate state agency. Next, the LLC members should enter into an operating agreement, which sets forth the rights of the members and the rules for running the company. An LLC may also need to apply for a tax identification number with the IRS. We can prepare all of the required documents for you.

An Employer Identification Number is a 9-digit code assigned to your company by the IRS. Obtaining an EIN is required before you can open a business bank account or hire employees on behalf of your company. NIL LLC can help you obtain your EIN.

Naming your company's registered agent is a necessary part of incorporating any business.

A registered agent's primary role is to receive any formal correspondence between government agencies and your business. A Registered Agent will keep you up-to-date on key dates, law suits and summons.

An Operating Agreement is an agreement among Members of an LLC that describes the business and the Member's financial and managerial rights and duties.

Many states require an LLC to have an Operating Agreement. Having an Operating Agreement is highly recommended for all LLCs.

Yes! Our partners at Zenbusiness will prompt you to pick a business name. After that, choose the Business Entity you want to Create. However, the LLC option is plenty sufficient for the needs of most amateur student-athletes.

Currently a C-Corp or S-Corp is the only other Business structures offered.

ZenBusiness is one of the industry leaders in easy, professional, online legal services. Zenbusiness provides the best customer service in the industry and has the fastest LLC filing system.

Zenbusiness is the official partner for NILLLC.org and files all of our student-athlete business formations.

NIL-LLC is a Company and Resource, designed specifically to serve Student-Athletes. However, our partners over at ZenBusiness, work with anyone who wants to start a business and set up an LLC. Click here to set up your New business fast!