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Should Business Owner Form Their Company As a Nevada LLC?

Date: 07/06/2018 | Category: | Author: Jakub Vele

Should Business Owner Form Their Company As a Nevada LLC?

Do you own a business in Nevada or are you thinking of forming a new business in Nevada, but you are not sure whether you should form your company as a Nevada LLC or not? Well, it is one of the most challenging decisions that every business owner has to face.

But do you know that over the past five years, Nevada LLCs seem to have become well-reputed in many respects? In fact, Nevada offers a wide range of benefits as a state of incorporation, including its relatively low corporate taxes, ease of registration, and lack of state taxes because of its business-friendly environment and strong policy protections.

Even though many businesses choose to incorporate their business in Delaware since the last couples of years, Nevada is still working to attract new businessmen to open up LLCs in the state with these three highlights:

  • Nevada LLC Privacy
  • Nevada LLC Cost
  • Nevada LLC Taxes

Advantages Of Forming Nevada LLC

As it is a universally acknowledged fact that every state has some guidelines to follow in order to form a new business over there, in the same way, there are some guidelines you must follow when you choose to form your business as Nevada LLC. But there are also some significant advantages with these guidelines and some of them are as follows:

No Business or Corporate Taxes

The most appealing factor of forming your business as Nevada LLC is its tax relaxation. Well, Nevada is enjoying the bonanza of tax returns from its gaming industries. Due to this, Nevada’s businesses enjoy some of the lowest state taxes as compared to any other place in the world.

Moreover, Nevada currently ranks fifth regarding the most favorable state for Taxes Foundation Tax climate system. In fact, as an LLC in Nevada, you would not need to pay a lot for running a business in this state. Along with this, Nevada is zero income tax state, and some of the other tax benefits are as follows:

  • Zero Stock Tax
  • Zero Corporate Tax
  • Zero Franchise Tax
  • Zero Admission Tax
  • Zero Tax on LLC Profits

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Highest Privacy Standard

The second healing for forming your business as Nevada LLC is its highest privacy standard. Unlike many other states, it provides the business owners, members, shareholders, as well as CEO a significant degree of privacy but this is not prolonged to other company officers and directors of Nevada business entities because they are the part of entity’s public record.

But, if the managers and directors don’t want to be the public face of the company, they can nominate a “nominee Director” or “Nominee manager” that will act as the public face of the company. In fact, this nominee doesn’t necessarily have an authoritative position in the company.

Hence, by following this idea while forming an LLC in Nevada, it will help you to add further anonymity for the owners who are associated with the companies. Naturally, this service is to be used for the legal and ethical purposes only.

Along with the same lines, Nevada LLC doesn’t require to file a list of members names with the state because Nevada doesn’t have an Information Sharing Agreement (ISA) with the IRS as Nevada is not afraid to boast with it. But the idea of the Information sharing agreement is to resist the abusive tax evasion.

And Nevada can participate in the agreements of IRS with other 33 states, but it would have no data to share with them just because Nevada doesn’t possess any corporate tax nor franchise tax. So, if you are still thinking for incorporating your business as a Nevada LLC, then you are moving on the right direction as Nevada LLC Policy is proving to be the game changer.

Flexible Profit Distribution

In limited liability companies, members are directed to their capital contributions. In other words, the number of assets or the capital that is contributed by their members is divided on the basis of their Operating Agreement.

For example, if you were a 50 percent owner, you would be entitled to receive 50 percent of the net profit that the LLC garnished each year.

But if you incorporate your business as Nevada LLC, there is no limit on the number of the members assigned. Moreover, there are also no rules and regulations on profit distribution agreements. So, if you are owning 10% of the capital and are receiving 80% of the profits from LLC, in that case, you have 100% control over the company. Unlike an ordinary partnership where the split is 50-50, Nevada LLC have much more flexibility as compared to other states.

No Personal Income Tax

If you have done with all your research work, then you would have come across with many states, where the owners have to pay federal and state tax as they possess the proportion of about 45%.

So, when you are considering to form an LLC, where the taxes go straight to the members, it is essential to review your state income tax in addition to the federal taxation rate. But you don’t need to worry, because Nevada does not impose any state income tax, so you can avoid this double taxation.

In fact, Nevada doesn’t impose any franchise tax, although it does collect a modest fee along with LLC list of the Officers as this tax includes assets, outstanding shares or personal income. In short, a franchise tax is a tax, that is paid for just being there as an entity and being the Nevada LLC residents you can easily avoid this extra taxation.

Privacy Allowed

As a matter of fact, Nevada doesn’t have an IAS(information agreement sharing) with the IRS. In fact, Nevada isn’t afraid to flaunt with it. But the work of IAS is to combat the avoidance of abusive tax. Well, Nevada doesn’t possess any franchise tax nor corporate tax, so it has nothing to share with other states.

So, this helps to create a red flag between the state and federal computer. Moreover, the Nevada LLC Policy also serves to protect business owners from aggressive attorneys, frivolous litigations, and unscrupulous creditors.

Significant Asset Protections

The next advantage of forming business as Nevada LLC is its significant asset protection. Well, starting a business is quite risky. As an owner, you might be liable if someone entreats your business. But in the state of Nevada, the liability is limited to the company only.

As an officer, shareholder, director or manager, you aren’t held responsible for the companies obligations unless you are a part of an outright fraud. Moreover, Nevada does not require a list of company-held assets. Therefore, you have no public records of assets linked to your company except for what you file with the (IRS).

So, you must be curious after knowing the advantages of forming your business as Nevada LLC and must be willing to incorporate your business over there. But confused, how much it will take in setting up the company and what will be cost structure and is there any need of a registered agent. Don’t get worried. Below mentioned are some of the facts about establishing your business in Nevada as LLC.

How Long Does it Take to Set Up a business as Nevada LLC

Basically, the turnaround time for forming a Nevada LLC is about 10-15 days. But if you want to complete all the work within 3-6 business days, you can contact to Incparadise for completing all the documentation process and submitting it to the Nevada Secretary of State without any hassle! As a matter of fact, the online filing process for setting up the business is fast.

If you need the filing completed quickly, contact us as soon as possible. Our fee is about $89 for the process of incorporation and $89 for the registered agent service along with the state fees. But for setting up your business in Nevada, you also require other formalities such as-

Business License Requirements

If you are considering to form a business as Nevada LLC, then you must meet the local and state requirements in order to get the business license. And if you are incorporating your business in a particular sector, then you need to apply for an additional number of permits or licenses.

Hence below mentioned are some of the lists of business licenses in Nevada:

  • Commercial vehicle license
  • Vehicle disposal license
  • Liquor license
  • Retail permit
  • Sales/use tax license
  • Motor vehicle dealer license
  • Special fuel license
  • Local Health Department license
  • Food service license
  • Cigarette wholesaler license
  • Wholesale permit
  • General contractor’s license
  • Bulk deal license

Are you thinking of forming your business as Nevada LLC for a particular activity? Well, in that case, you are expected to take various types of business permits such as:

  • Non-Wyoming Businesses
  • Transportation
  • Construction Contractors
  • Fire Prevention
  • Wholesale and Retail Sales
  • Consumer Credit
  • Public Land
  • Wildlife
  • Agriculture
  • Insurance
  • Service Establishments
  • Environmental Protection
  • Large-Scale Projects
  • Foreign Corporations

Remember that Nevada doesn’t provide statewide general business permits or licenses. In fact, the licenses or permits of a particular business are directed by the industries and professionals or even by the place of your limited liability company.

Business Name Requirements

So, are you done with all the plans and research work and more importantly, with the business licenses or permits for your dream business? And now are you looking to finalize a name for your corporation? Well, just keep in mind the few important things before finalizing the name for your entity.

The first and foremost requirement that a Nevada LLC possess regarding the names is that it can’t be confusing with any other fictitious names, trademark names, reserved names or organisation names.

And if you register your company with Incparadise, we will help you in checking the availability of your designed name that matches the Nevanda’s standards. As a matter of fact, all the Nevada LLC names need the approved designations from the state that includes:

  • Limited Liability Company
  • LC
  • LLC
  • L.L.C.
  • Limited Company
  • Limited Liability Co.
  • LTD. Liability Company
  • Ltd. Liability Co.
  • L.C.

More importantly, there are also some restrictions on the usage of the certain words in the LLC names in Nevanda, which means they required the special approval by the state and these include:

  • University
  • Bank
  • Trust
  • College
  • Bank
  • School

Nevada Obligations

Even after forming your business as Nevada LLC, you need to undertake certain number of steps to keep the business in compliance. In fact, these steps will also help you in preserving the limited liability as an LLC provides its owners. Below shared are the ongoing fees and taxation requirements for Nevada LLCs that you need to follow:

Annual Report

Nevada requires to file an annual lists of business licenses and of the managers or members of the entity by the last day of the month on which the LLC’s incorporation anniversary is marked. The cost of filing is $200 for the business license registration and $150 for the Annual List.

Taxes

As a matter of fact, Nevada is virtually a tax free state, but if you are residing in Nevada and operating your business here, you may still be subject to pay the state’s requirements fees as it will depend upon the way of your financial and legal affairs are organized.

EIN

Federal tax identification number (EIN) is needed is you want to hire employees in your company. Moreover, if you are seeking to open a business bank account, you would also need the EIN for this.

State Tax Identification Number

Unlike other states, Nevada requires a state tax identification number for setting up your business as Nevada LLC.

But now the question arises, while setting up a company in Nevada that – do we actually need a registered agent? Well, the next section would give you the exact idea.

Is a Registered Agent Required While Forming your company as Nevada LLC?

If you are living in another state and own a business in Nevada, it is always advisable for all the entrepreneurs to hire a registered agent in order to complete all the documentation and to accept all the service of process.

But somehow, if you are not able to keep a registered agent while setting up your company in Nevada; the result may occur in the dissolution of the business entity. Hence, there are a plethora of reasons why you should hire a registered agent in Nevada. The below explanation would give you a much clearer idea.

Role of a Nevada Registered Agent

  • If in any case, your business is running at the risk of being dissolved for delinquent annual reports, the registered agent will help you in assisting all the documents accurately.
  • The registered agent will receive all the legal notices of your company without any delay.
  • Even the registered agent is expected to maintain the up-to-date information or documents of your companies, and they will also represent you on the on-site address of Nevada.

Cost To Start Nevada LLC

As a matter of fact, every business entity needs to hire a registered agent for setting up their business as Nevada LLC. In fact, there are plenty of the options available for you to choose the best-registered agent. But if you choose Inc Paradise as your registered agent, then you must know about our fees cost structure:

  • The fee is $200 for the business license registration.
  • Nevada State fees $150 plus $89 for our service fees.
  • Nevada Apostille is $20, and our price is $15, so the total cost becomes $35.
  • In fact, the first LLC Organizational Meeting would cost you only $20.
  • So, if you are thinking to ship the article via email, it doesn’t cost you anything, whereas international courier will cost you about $80.
  • And if you choose our Nevada address for your mailing process and corporation filing, you need to sign up for mail forwarding with us. And the best part is- it is FREE-OF-COST.
  • In fact, you can also see our other plans at the order form.
  • Hence, the total cost of setting your company as Nevada LLC comes out to be approx $554.

The cost to Incorporate in Nevada per year

The State fees for an annual list is $150.00 for LLC and the cost to incorporate a Limited Liability Company (LLC) in Nevada according to NRS 86 for both domestic as well as foreign LLC’s is $589. More importantly, you can also apply online for renewing process immediately and it is our duty to remind you to file your Nevada annual report each year.

Conclusion

So, now that you know all the Nevada LLC policies, costs, and taxes, you must be willing to form your business as a Nevada LLC due to its numerous advantages. Well, it a fabulous option for those who are looking for the same which would offer you strong asset protections and cost efficiency. As a matter of fact, the final decision of incorporation is always depended upon your specific situation and what kind of business activity you are willing to do.

So, make up your mind, and if you are ready in setting up your business as Nevada LLC, Inc Paradise is here to assist you in completing all the documentation quickly and economically. We will also serve you in the long-term run and will help you in analyzing your current situation as you are not under any kind of commitments and you don’t have to pay anything till you place your order!

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How Can I Add Members to My LLC?

Date: 07/26/2018 | Category: | Author: Jakub Vele

How Can I Add Members to My LLC?

Do you own an excellent plan for your dream business? Well, then think about the incident when you meet someone who understands your beliefs and vision for your business plan. And having the same resources or skills which can help you in taking your business to the next level.

So, should you add new members to your business entity? Well, there may come a time in your business’s life when you decide it would be beneficial to bring a member to your Nevada LLC. As a matter of fact, many small business owners or entrepreneurs operate their business as Nevada LLC because it offers the limited liability of a corporation without any complexity and expenses of incorporation in Nevada.

But before adding new members to your Nevada LLC, Keep on reading in order to know about the facts of LLC members and how they will help you in making your business profitable?

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Nevada LLC Members

LLC members are the owners of the company and having a set of percentage in your business entity. More importantly, the responsibility and the rights of the LLC members are mainly mentioned in the opening agreement but also specified by state LLC regulations.

If you have established your business entity as the Nevada LLC, then you may or may not have other LLC members mentioned in the Identification Certificates or Article of the organization. But if you want to add a new member to your LLC in Nevada, you can make the changes in the amendment form.

Further, LLC members are not required to possess any designations or dividend responsibilities like the business entity which are incorporated as corporations (C-corporation or S-Corporation).

Should You Add a New Member to Nevada LLC?

After knowing the concept of LLC members, the next question arises why you should add a member to your Nevada LLC? Well, there are plenty of reasons to add a member to your limited liability company. Adding a new member to your Nevada LLC is although straightforward, but there is a slightly different consideration you need to keep in mind in order to avoid future disputes among the owners.

  • If your Operating Agreement does not have any requirements or authority for adding a member in Nevada LLC. What do Nevada state’s laws say about adding a new member in your LLC?
  • While selecting a new member in your LLC, think about the fact that this is the right person who will help you in taking your business to the next level and agree on all the commitments and understands your business entity or not.
  • What does this new LLC member has to offer the Nevada LLC? Will dividing the profits percentage and adding a new decision-maker in the Nevada LLC complicate the matters or add value to the business entity?
  • How are the board members reacting while adding a new member to the Nevada LLC? Will this new LLC member complement or compete with the existing members of Nevada LLC?
  • Nevada LLC requires the formal filing of Amended Articles of Organization or Operating agreement while adding a new member so you need to file an amendment reflecting the addition of new member in the LLC to the state.
  • You are also required to identify the specific role of the new LLC member in your business entity in order to avoid the chaos between the existing LLC members.

How to Add New Members to Nevada LLC?

So, now that you have a profound idea about the importance of adding a new members in the Nevada LLC and the basic considerations you need to follow while adding a new member in LLC. The next step is how do you go about adding an LLC member in your Nevada LLC? Below are some of the important areas, you need to check the requirements before adding a new member in order to avoid any legal system problems!

Review Your Operating Agreement

Before adding a new member to your Nevada LLC, you need to check your operating agreement which will include all the responsibilities and roles for every LLC members from how the profit and losses are earmarked to how the business structure can be changed?

As a matter of fact, not every state requires the operating agreement for LLC incorporated companies, but it is undoubtedly helpful for the limited liability companies in order to take the business in the next level by creating guidelines for every LLC members.

If your LLC has an operating agreement, in that case, it should have a provision in regards to updating the membership of the business entity. And if your operating agreement does have this clause, then it is mandatory to follow this procedure in order to add a new member.

Review the Nevada State Act

In order to amend your Nevada LLC operating agreement, you must provide the completed form of articles of organization to the Secretary or the Nevada state by email, fax, or in person along with the filing fee.

The main benefit of organizing your LLC in Nevada is you can easily hire professionals like Inc Paradise in order to manage all the procedures for documentation and adding a new member to your LLC without getting involved in any legal system problems.

Determine the type of Nevada LLC

Once you have understood the procedure of adding a new member to your Nevada LLC, the next step is you need to determine the type of your limited liability company. As a matter of fact, LLC are quite flexible in their ownership structure.

But if your Nevada LLC is incorporated as single-member LLC, in that case, you might need to show the changes of your members on the amendment forms of Nevada. Below shared are some of the different ways in order to determine how the new added LLC members will help you in running a business fruitfully.

Multi-member LLC

If you have a multi-member Nevada LLC, this business entity requires more consideration as compared to other types of LLC so that the rights of each member are clearly outlined in the amendment of the operating agreement. Well, this is an LLC which comprises more than one member, and you might need to schedule a meeting with your co-owners to discuss the potential of the new member in order to add a new member to your Nevada LLC before holding a vote.

At the meeting, you’ll have to demonstrate the capital interest, advantages of bringing a new LLC member to your existing LLC members by figuring out the options like his general business experience, qualifications, and financial resources and much more.

Single-Member LLC

A single-member limited liability company is the limited liability company which has only one owner. The best part about this type of Nevada LLC is it recognized as a legitimate business entity, with the required “LLC” attached in the business name.

Single-member LLC is although different from the sole proprietor with no formal legal business structure and are not subjected to pay income tax and even it allows for easier transfer of ownership upon any disability, retirement or death to other business entity.

Member-Managed LLC

Most of the Nevada LLCs chose to form as member-managed LLC because of its numerous advantages associated with it. A member-managed LLC is one in which all the LLC members or co-owners handle the daily tasks of managing the business.

These are small businesses with a few principals, who put up the initial capital between them and then generate the “sweat equity” together. In fact, all the members have the right to vote and the authority in deciding for their business entity.

Conclusion

Well, adding a new member to your Nevada LLC means taking on another business co-owner for your business entity, so it is always advisable to think about the things before you come to any conclusion. So, once you make up your mind ease for adding a new member to your Nevada LLC, follow all the procedures of the operating agreement and creating the proper filing according to your type of business entity in order to stay away from any chaos.

Since every state has its own rules and regulations, your best bet is to contact IncParadise and enjoy all the services and resources in order to take your business to the next level in Nevada.

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Initial List

Date: 07/06/2015 | Category: | Author: Jakub Vele

Nevada Initial & Annual List of Officers, Directors ...

 You can order filing of Annual or Initial list online.

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Every company (LLC, Corp, etc.) in Nevada must file an Initial/Annual List AND State Business License every year. (non-profit are exempt from the State Business License).

The first-time filing is called the Initial List. Following filings are called Annual Lists. The form is slightly different, but basically it asks for the same information (name of Resident Agent, company name, filing number, filing period, names and addresses of officers, directors or managers/members). You can do the filing yourself or we will do the work for only $30.. Please be sure to send in advance before the deadlines. The Secretary of State is strict, and sending late can cause a $75 penalty for the List filing and $100 for the State Business License.

Filing deadlines:
The Initial List MUST be filed on or before the last day of the first month following incorporation/initial registration.

The Annual List MUST be filed by the last day of the anniversary month of the original filing. Example: If the entity filed on Oct. 15, 2002, the list must be filed by Oct. 31 of each year. Postmark date is not accepted as receipt date in the Secretary of State’s office. Attention Last Minute filers: the cut-off time for you to order the filing of your Initial or Annual report to the Nevada Secretary of State is no later than Noon on the last business day of each month. All orders received after that time will be subject to the State assessed late penalty. Please contact our office for further information.

FREE FORMS if you decide to do filing yourself (if you use our service we charge only $15 extra and you can order here)

Corporation – Inc.

Annual List – Profit Corporations
Initial List – Profit Corporations

Limited Liability Company – LLC

Annual List of Managers or Members
Initial List of Managers or Members


Initial and Annual Lists can be paid by check or credit card. Download credit card checklist here. The Initial filing fee is $125 for corporations, LLCs, etc. Click here for customer order instruction form

The Annual filing fee is based on the total number of shares provided for in the Articles. Annual Lists for nonprofit corporations without shares are $25.00.
Fees for the Annual List are based on the value of the current, total authorized stock recorded with Secretary of State’s office

$75,000 or less $125.00
$75,001 and not more than $200,000 $175.00
$200,001 and not more than $500,000 $275.00
$500,001 and not more than $1,000,000 $375.00

For capital over $1,000,000, please contact us.
Type or print the following information on the Annual List:

  1. The FILE NUMBER of the entity (check your Articles or contact us for help).
  2. The NAME of the entity EXACTLY as it is registered.
  3. The STATE where the entity is organized (enter NEVADA).
  4. The FILING PERIOD is the month and year of the original filing + 12 months (+ 12 months each year).
    Example: If the original filing date was 1/12/2000, the filing period would be 1/2000 to 1/2001 for the first year. Second year would be 1/2001 to 1/2002, etc.
  5. The NAMES and ADDRESSES, as required on the list should be entered in the boxes provided on the form. Limited Liability Companies MUST indicate whether MANAGER or MEMBER is being listed.
  6. The SIGNATURE MUST be included in the area provided at the bottom of the form.
  7. Form and applicable FEES and PENALTIES must be returned to the Secretary of State.

FILE STAMPED COPIES: If you wish to have the Page 2 certificate file stamped and returned, enclose a self-addressed, stamped envelope.

CERTIFIED COPIES: You must send in the number of copies you would like certified and returned to you in addition to the original list to be filed. A filing fee of $30.00 for each certification is required. Copies received without the required fee will be returned uncertified. The Secretary of State keeps the original filing.

EXPEDITE FEE: Filing may be expedited for an additional $75.00 fee.

Filing may be submitted at the office of the Secretary of State or by mail at the following addresses:

Regular and Expedited Filings Accepted:
Secretary of State
Status Division
202 N. Carson St.
Carson City, NV 89701-4201

Expedited Filings Only
Secretary of State – Satellite Office
Commercial Recordings Division
555 E. Washington Ave., Suite 4000
Las Vegas, NV 89101

Do-it-yourself list filing information.
Mail the form directly to the Secretary of State, or you can fax it. If you fax it, use this credit card payment check list. If you need a file stamped copy (needed for banking purpose), always send two copies and a self-addressed, stamped envelope. You should use a customer order instruction form and enter a note that you are requesting a file stamped copy to be send back to you. You can also request a certified copy if you wish for an additional $30 (the copy will be file stamped and also certified with another stamp).

Online order for Initial/Annual list

New: Preparing company minutes (shareholder, director, member meetings, bylaws, operating agreement) $20-$25.
Other companies are charging $100-$250 for the same service!

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New Hampshire

Date: 06/22/2015 | Category: | Author: Jakub Vele

NEW HAMPSHIRE CORPORATION total only $189.00

Including New Hampshire State Initial Filing fee $100.00 and $89.00 fee for checking name availability,preparing New Hampshire state-approved Articles of incorporation, filing Articles with state, sending Articles to you.

new-hampshire-1 new-hampshire-2 certifies

See what’s included

Ashley Canez“We do incorporations right… quickly and professionally. This is a quick easy process. But we know it’s a new experience for some. Call us if you have any questions.”

Phone: 702-871-8678 Ashley Canez, Customer Support

Come to see us on your next visit to Las Vegas.

Nevada Office

Same location since 2004 – 5348 Vegas Dr. Las Vegas

Once your company is set up, you will need:

  1. Tax ID (EIN) – free over the Internet or phone.
  2. Yearly Requirements and Fees for New Hampshire companies
  3. Company Minutes & Stock Certificates – are included in incorporation. You will have access to documents generated on your client account.

Since 2002...

Annual list filed
Companies started
Mail Forwarding Accounts
Active Registered Agents

Satisfaction guaranteed!
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New Hampshire Corporation ORDER ONLINE

Date: 07/06/2015 | Category: | Author: Jakub Vele

New Hampshire Corporation

 ORDER ONLINE: Use this online order form and pay by credit card.

 ORDER BY FAX: You can print and fax us this order form.

Frequently Asked Questions about New Hampshire Corporations.

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New Hampshire LLC ORDER ONLINE

Date: | Category: | Author: Jakub Vele

New Hampshire LLC (Limited Liability Company)

 ORDER ONLINE: Use this online order form and pay by credit card.

 ORDER BY FAX: You can print and fax us this order form.

Frequently Asked Questions about New Hampshire Corporations.

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