Does anybody know how to form a LLC online or an easier way? My cousin told me a LLC will protect me better than a sole proprietorship. I was told you can do it easily but I can’t find where.
Headstrong, I’ll take on anyone!
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Before forming an LLC you need to know what it does, how it can and can't protect you, and what you need to do it make it protect you.
And want do you want to protect against?
He told me if you get sued it puts the burden on the business. I guess it would be better to talk to me account about it. I was told they can file for you too.
Headstrong, I'll take on anyone!
Jemcon, check out NOLO press, The Corporation Company, or read any of a gazillion books on LLC's--
I formed an LLC through The Corporation Company but didn't file annual reports like I was supposed to so it was a waste of $600. My lawyer is helping me set it up again. Don't do that.
I'll just go to my account. I don't trust those online people. I figured I could do it on my state website but can't find any info.
Headstrong, I'll take on anyone!
Spend the money and talk to your lawyer. In most states your accountant won't be allowed to file legal documents.
An LLC will definitely give you legal protection that you can't get as a sole proprietor. The LLC laws vary from state to state; another reason to talk to a lawyer.
Try spending a couple bucks with a lawyer.
They are trained to protect you. Kind of like saving a couple hundred dollars by letting a draftsman design the house...maybe money saved, maybe not.
Don K.
EJG Homes Renovations - New Construction - Rentals
PA lets you do it online.
Probelm is, the website doesn't fully explain all of your obligations once you are an LLC.
You folks who have LLCs, are you doing business that requires bonding? Insurance?Who's the cat that won't cop out, when there's danger all about?
http://www.asmallwoodworkingcompany.com
I've got several LLCs and all are insured in some way or another. I've never been bonded.
blueOur Skytrak is for sale. It has 500 hrs on it. We want 50k (you pay the freight) and we'll finance it. Drop me an email; it's a good buy.
I have an LLC, registered in NH. First thing to do was register my company name with the State. When that was done, my accountant did all the initial paperwork for the formation of the LLC. Cost was ~$450 though I don't remember exactly. I file my annual report with the State online (including a $100 annual fee). To answer your question, yes I have General Professional Liability Insurance, plus some tool riders, but so far I haven't had any jobs that have required bonding.
Someone made an interesting point about always having to use the initials "LLC" on all company business. I have it on my truck lettering, business cards, and letterhead, but I omitted it on a recent brochure that I had printed. My graphic design guy said it looked to "clunky" dangling at the end of the company name, and no one (prospective clients that is) really cared if I was an LLC or not. Has anyone here ever been advised that they must ALWAYS use the "LLC" on all business related materials. It seems like a nit-picky thing that no reasonable judge or jury would give two-#### about.
I am in ohio and was told the same thing...that all materials must have LLC on it. I was also told (by my attorney) that anything I sign must have my name and title (President) with it. If you don't include the title you could be construed as being just a sole proprietor, not an LLC.
Who knows how this would hold up in court and also how laws vary state by state. This is what I have been told.
Edited 10/20/2006 10:21 am ET by fred77
Spend the money on a lawyer.
When I was still a business owner, my business was an LLC.
In most cases, just setting up an LLC to replace your Sole Proprietorship in an effort to gain more protection is a waste of time.
One, depending on the state your in, you'll have the same filing obligations as a corporation. Don't screw it up or you'll just then be viewed as Sole proprietor.
Second, if JEMCON LLC is on a job where something happens causing JEMCON LLC to get sued, then your personal assets will be protected. Except for that part about how if it was Mr JEMCON himself that caused the issue. Then JEMCON LLC and Mr. Jemcon both get sued and the LLC won';t eb worth the paper you filed to start it.
Ask your CPA for advice on the selection of LLC or Corp then get a lawyer to do the paperwork for you. One misfiled paper and you don't have the protections you thought you had.
I think the site you want is legalzoom.com
Jemcon
It's on the web for the state of NJ. When my PC stops acting up I'll get you the link. My wife and I are in the process of setting one up now. We live in Harrington Park; where are you?
Andy
This is the link I found
https://www.state.nj.us/cgi-bin/treasury/revenue/dcr/filing/page1.cgi
I'm in South Hackensack. Near the meadowlands. Is setting it up in the states site as good as going to a lawyer? I need all the help I can get.
Headstrong, I'll take on anyone!
You afraid of lawyers or something?
Nope. Just didn't know how to go about it. It don't matter anyway, Some has my name as a LLC in my state.
Headstrong, I'll take on anyone!
You might look into either changing your business name, before getting hit with a cease and desist order, or, depending on what your business is, maybe look into doing an S-Corporation, which although different from an LLC it shares many of the same benefits.
I know in this state you can have more than 1 business with the same name for sole proprietership. You only register by county. Only 1 name in the county but you only search the county when you register. LLC seems to be the whole state.
Headstrong, I'll take on anyone!
I am an LLC. An LLC affords you some of the protections of a corporation while also preserving some of the conveniences of a sole proprietorship.
Under a corporation you have to file regular reports, have officer meetings and issue yourself a paycheck.
As an LLC, you do establish a separation of your personal self and business entity yet your funds may be handled just as you do now as a sole proprietor… assumedly you use the funds as often as you need to without making specific payments to yourself.
I had my accountant set up my federal tax ID number… which can be done as easily over the phone and for free.
I had an attorney file my LLC with the state of Ohio. He charged me $700 which included a year’s worth of free consultation on business matters.
With an LLC, in Ohio at least, here are no reports to file. You will operate just as you did as a S.P. but you must note that you should be certain to use “LLC” on all official documents and perhaps even advertisements as I believe the case can be made that you operated as a S.P. if you don’t.
That’s my 2 cents, hope it helps.
http://www.petedraganic.com/