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stevenf
03-17-2009, 11:01 PM
Seeing the other thread got me thinking about my business. I have the DBA registered, I have the business license, I have liability insurance, and I have a checking account opened in the business name. I registered the DBA as a sole proprietor.
Next year I will want to go with an LLC. However, Im confused as to why people get attourneys to do this. Isnt it as simple as registering the business name as LLC?

Big C
03-17-2009, 11:54 PM
Go down to Louisiana Sec. of State's office,(Located on Essen if you live in B.R.) file for an LLC $70, to have it done on the spot is an additional $30. then go upstairs to the state tax office fill out a few papers, call the IRS to get your Fed tax ID number, the go to the parish office to get a parish Occupational license....took about 3 hours total for start to finish including travel time.....

weasel
03-18-2009, 12:20 AM
Don't forget about bookkeeping? Your reports to the IRS and State

stevenf
03-18-2009, 10:24 AM
Go down to Louisiana Sec. of State's office,(Located on Essen if you live in B.R.) file for an LLC $70, to have it done on the spot is an additional $30. then go upstairs to the state tax office fill out a few papers, call the IRS to get your Fed tax ID number, the go to the parish office to get a parish Occupational license....took about 3 hours total for start to finish including travel time.....

I already have everything done except the llc. I'm a sole pro. So all I have to change is the dba?

WheatBookkeeping
05-31-2011, 09:30 PM
Just a couple of things to keep in mind:
Be sure and touch base with your bookkeeper when you switch to LLC. At the switchover, there are accounting differences that have to be implemented into your bookkeeping system. You’ll also have to close out the SP books and open the LLC books. Create a closing Balance Sheet for the SP and an opening Balance Sheet for the LLC. It’s a virtual ‘new company’ setup. Your accountant will probably have you set up a new bank account for the LLC (I see you've already done that), the bank will need to see your LLC approval papers from the State. (Out of curiosity, did the bank take a copy of your LLC papers or did they have copies sent directly to them? It's a Homeland Security thing now and I haven't seen all the different ways it's being implemented)

Remember; at the time the LLC is setup, it will become doubly important to keep your personal and business financial activities separate.

Finally, stay on top of the fine folks at the IRS and your State taxing authority. Make sure their records are straight as to your new status. The old SP and the new LLC are two distinct companies owned by you. (you are really a single Member LLC). Sometimes they don’t understand that the old SP need not file any more quarterlies and that the new LLC has taken over sort o’ speak.

good luck

GreenI.A.
06-07-2011, 05:36 PM
One of the reasons many people use an attorney is that some states require it. MA is one of those states, you need an attorney to sign off on it, or you can use a service like legalzoom who fills it out and has a local attorney sign it and deliver it to the state but thats here, all states are different
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britsteroni
06-09-2011, 10:47 PM
I would advise you to go see a CPA. Most initial visits are free.

If you don't have a good accountant, that should be a priority as you get the ball rolling.

Good luck.

Will P.C.
06-09-2011, 11:11 PM
If your state does not require an attorney to set up, I think you are better suited doing it all yourself.

However, a CPA should be met with