View Full Version : What Method did you use to register your Company?
11-11-2004, 10:39 PM
I have been looking up my options to register and go to a legit company. I have found this web site that seems like a nice, well layed out site to register LLC's. The web site is http://www.legalzoom.com/llc/ . It costs $130 (+ another $130 for state fees, $25 for Federal Tax ID application & $60 for Federal Tax ID Number (http://www.legalzoom.com/pricing/llc_pricing.html#feecalc ) ) to have them set up a LLC. What do you guys think about doing it this way? Good? Bad?
11-11-2004, 11:21 PM
I f I were you I would go see an accountent/lawyer. I did and he took care of all the legality of setting up the business. They know more about it than we do. I figure you will pay more money but it will be done right the first time, if not its his fault.
11-11-2004, 11:22 PM
I payed under a 1000 for all the fees his time and licences i needed.
11-12-2004, 12:26 AM
Go to the secretary of states web page for your state and find out what you need to do first. Then go see a lawyer or account if you have questions about any of the criteria. Study the requirments first and make sure you plan ahead of yourself cause when you do this kinda stuff they like to make it a pain in the rear. Good Luck. I wouldn't trust anyone over the net use somebody that knows your states rules.
11-12-2004, 12:57 AM
the amount of work the online companies will do for you is absolutely no different than you could do for yourself. there's no tangible legal benefit to it, other than they do the paperwork for you. in my state of ohio, to form an LLC cost $125 and to get a federal tax ID, all you have to do is fill out a form and can expidite with a phone call to get the ID immediately (it's free). i formed my most recent llc, and all associated tax id's (Federal S-4) etc, in less than 15 minutes of actual work. the llc filing comprised of me signing my name, address, and business name. nothing more, nothing less. pull up your state's site and view other's llc filings to see what actually goes into it. also check out irs.gov and nolo.com
obviously, i'd recommend an attorney and accountant, but if you go with an online outfit, you might as well save the money and buy something nice for the family.
11-12-2004, 01:43 AM
Do you know any lawyers personally, or any accountants? The process of becoming an LLC is just filling out the paper work, all the lawyer is going to do is draw up the papers and have you fill everything out. If you can find the layout just copy it. That's what I did, no problems, that's what my mom did for her accounting firm and had no problems either. Then you just pay the fees for becoming an LLC and no professional fees. It'll save you a fortune.
11-12-2004, 10:43 AM
Our CPA gave us good info, some we did not know and some we did, and a lot of it we could have checked on the web;
iowa secretary of state
small business administration
at any rate an LLC can be set up in Iowa for a $40 fee when you file articles of organization(you can find examples of articles of organization by doing web search) a Federal I.D. tax number can be obtained free of charge online at the irs site as well.
Just remember when doing a search for info to always add your state with the search words, i.e. articles of organization examples+iowa.
Oh yeah others are 100% correct, it is still an excellent idea to take time to speak with CPA and Attorney.
11-12-2004, 12:29 PM
Here is a link for you http://www.wisconsin.gov/state/byb/legalentity.html
11-12-2004, 07:25 PM
Thanks for the help. I got another question, what percentage of your income do you pay to uncle sam?
11-13-2004, 11:36 AM
if you have a team of advisors like bill gates, you pay 4 to 5% and if you don't.... sky is the limit without proper tax advice.
11-16-2004, 12:43 PM
how long can you go without registering or paying taxes on your business? im just starting up and although i plan to get registered and work legit, i dont have the money to pay all of these fees right now.
11-16-2004, 01:18 PM
how long can you go without paying taxes? you can't.
registering if your city/county/state require it? you can't.
that would be "anti-legit".
11-16-2004, 02:30 PM
If you can run a business, you can definitely set one up - meaning it isn't hard at all. In my state (Va.) and I am sure in others, your first step is to go to the State Corporation Commission (scc website). They can send you all of the info you need for set-up.... Articles of incorporation, Federal id request forms, Department of Taxation forms. The forms are free and only take a few minutes to fill out - they even come with a step by step plan to get started. Don't give some greedy lawyer your hard earned money - just do a little research and knock it out yourself. Good luck.
vBulletin® v3.8.6, Copyright ©2000-2014, Jelsoft Enterprises Ltd.