Can anyone guide me here?
You can also use the search function at teh top of the page (or at http://www.reiclub.com/forums/index.php?board=29;action=search) and type in “LLC”…
Keith
Hello,
My first LLC I had set-up by my attorney, It cost me $650.00.
After seeing how he did it, I set the second one up myself.
In Wisconsin all you need is $130.00 and you have an LLC.
http://www.wisconsin.gov/state/byb/LLcompany.html
You will also have to search the state name database to make sure there is no conflict with the name you have chosen.
If you plan on having employees then you will need a tax ID number for your LLC.
The state you live in is sure to have the same type of forms online.
Good Luck!
Wow…only $650 from your attorney? You’re lucky…that’s much cheaper than out here in Cali
My real estate attorney quoted me $250 here…
Keith
I bow down!!
For a previous start up business I own I inquired with over a dozen small business attorneys and the avg price for setting up an LLC out here in Cali was $2000 :o
Someone in California is playing “Who’s your daddy” (again)…
Keith
Started my LLC in NJ last month. NJ has a web site where you can fill out all the forms needed to start the LLC and includes links to federal web siteas to apply for an EIN. Took me about 2 hours and $154 on my credit card. When I need to form my second LLC it should only take about 45 minutes, maybe less, now that I’m reasonably familiar with the process.
Check if your state has a similar on-line capability and browse around te site a bit to see the info you will need and the questions that will be asked before commiting
FYI, S-Corp startup is a bit cheaper but I don;t remember the exact cost.
jmd_forest
Is there an offical website I can use to start the LLC in oklahoma by myself without using any attorney. I did it in NJ on web.
secratary of state in oklahoma on a search eng. and you will get to see start a buisness section.
You can aplly online in your state im sure.
God Bless
\kurt/
WOw, didnt know it was that expensive in other states. I had my LLC set up recently including aritcles and EIN number by a real estate attorney in Flroida for $350!!! WHen i actually start doing business, i will then set up corporation and living trust to begin my asset protection… CYA!!!
steve
Filing the paperwork with the state where you want to have your LLC is just the first step, and it is the easiest. As noted above, many states will let you fill out simple forms online to file Articles of Organization for an LLC. Just check the office of the secreatary of state for the state where you want to organize.
Hoever, you need to pay some serious attention to the Operating Agreement. This is the document which defines how the LLC will work–something like bylaws for a corporation–and good operating agreements are more difficult to prepare than the Articles of Organization. In addition, if you want the LLC to be treated by others as a seperate entity, you need to treat it as a seperate entity yourself. At a minimum, this means you actually follow the rules set forth in the Operating Agreement and that you keep the LLC’s transactions seperate from your own. For instance, don’t use the LLC check book for everyday grocery purchases and the like. Keep seperate books, etc. As noted, there are huge differences in the cost of obtaining help from an attorney with respect to formation of an LLC. Higher priced attorneys are not necessarily going to create the best results, but neither is there any guarantee that the less expensive attorney will provide a service as good as the more expensive attorney.
I don’t understand why anyone would say they have an LLC now and will get a corporation or trust in the future to get started with asset protection later. Asset protection is one of the main reasons to form an LLC.