Cost of forming an LLC

[RScapes]

Gentlemen and Ladies: I will be starting a small scale solo lawn care business in 2013. I will be forming an LLC as opposed to operating as a sole proprietor.

From my perspective, It appears to be advantageous to get assistance in the process of forming an LLC. My state (Ohio) does not require an operating agreement in order to form an LLC. But my understanding is that executing an operating agreement will be an excellent document to have in the event of a law suit.

I could file the articles of organization and pay the Secretary of State Fee and obtain the EIN from the IRS on my own, but it appears the biggest advantage of hiring an attorney is to draft the operating agreement and there is some liability risk in not having that (operating agreement document). I have been quoted $500 (does not include the Secretary of State filing fee) in attorney fees to get this done.

What are your thoughts? Is it worth the cost of hiring a lawyer to do this? Is $500 a reasonable price?

Thank you!

RScapes

[inzane]

check out http://www.legalzoom.com, i used them.. they handled it all. They have a few different llc packages and cheaper than the price you mentioned too.

[lawnman24949]

$500 is a fair price. I paid 1500 for mine but that is for different reasons. I think that using an attorney who is local is much better than using the website above. I am not say they wont do everything necessary but I feel more comfortable when I am dealing with someone directly and they can answer my questions.

[JeffInTexas]

I used legalzoom, and never had a issue.

[alldayrj]

I just paid 550
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[DannyLot]

You can do a llc on your own no need for lawyer or legal zoom it's simple

[zackvbra]

im actually doing this before this coming spring.

In GA, its super simple:

-Name Reservation fee: $25
-Filing fee: $100
-Annual Registration: $50
-Fee to reinstate a dissolved LLC: $250

$175 initially, then $50 a year. All I gotta do call the SOS office in Atlanta, reserve my name, print out the submission form, and mail in the form along with my payment.

The states that are charging $500 and up are fragging people...thats just plain ridiculous. I was shocked when I read the comments.

[wegomow]

I would recommend legalzoom.com as well. Easy and saves you $$$!

[tonygreek]

If you're going to go the LegalZoom route, you might as well just save the money and file for yourself. You're not getting anything different than what you can easily put together. If you want to make sure your various legal bases are truly covered, hire an attorney.

[Duekster]

Originally Posted by tonygreek

If you're going to go the LegalZoom route, you might as well just save the money and file for yourself. You're not getting anything different than what you can easily put together. If you want to make sure your various legal bases are truly covered, hire an attorney.

Ditto. Go to the secretary of state website and down load the forms you need. You can call and they will tell you which forms to complete but offer little to no assistance.

As someone mentioned earlier you have to research the name, (perhaps reserve it) then complete the forms and file two copies with the state with the required fees.

Then you get the EIN if you have employees otherwise the IRS does not want to issue those anymore.