Don’t want to pay more than $200.00
Probably not. Most state fees are higher than that.
What are the fees for the state where you’re located? I can guarantee the Secretary of State’s office (who handle LLCs in most every state) doesn’t give a crap of what you want to pay.
If I recall correctly, my New Jersey LLC cost me around $150 to start up in 2005. I researched and wrote my own Operating Agreement and created the LLC using the New Jersey Department Of Treasury web site (may have been Secretary of State as noted by justin0419, but the Cert of Formation came from the Treasury). I then applied and received an EIN online from the IRS.
But note that forming an LLC in another “cheap” state does not absolve you of registering your LLC in the state in which it is doing business. Usually this costs the same as forming the entity in your home state.
Also take note of the state’s franchise tax filing requirements. Some state have a minimum annual franchise tax. So even though the state is cheaper to form, it ends up costing more with every year.
If jmd_forest is located in Jersey, then I agree with both of you.
Like mcwagner said, there will be fees for operating an LLC outside of it’s original state. Our LLC was formed in IL. We paid fees there to establish it as well as annual fees. We had to register the LLC as a foreign entity in the state of MS since it originated in IL. There are higher fees here for foreign entities. Guess I should’ve formed another LLC here in MS instead, but it’s not that big of a deal here.
Yes, I live and invest in NJ.