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Old 10-06-2003, 02:09 PM
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Soupy Soupy is offline
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Incorporating?

What is the best option for LCO's ? I'm thinking LLC but I want to hear what you guys are Incorporated under.

I know your going to tell me to call my Accountant, But she's on vacation until next Monday.

Thanks,
Soupy
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Old 10-06-2003, 03:20 PM
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mtdman mtdman is offline
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I have an LLC. The LLC, at least here in MI, gives you many of the benefits of incorporating such as a layer of liability protection, without all the hassles of keeping minutes and officers etc that an Inc needs.

I had a lawyer do mine, it was kinda complicated. Cost about $350.

Look on your state's website for more info about LLC in Illinois.

Good luck!

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Old 10-06-2003, 07:12 PM
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CamLand CamLand is offline
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mtdmater check your pm mail..
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Old 10-07-2003, 12:58 AM
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check yours, camland.

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Old 10-07-2003, 03:23 AM
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mower_babe mower_babe is offline
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we had our lawyer do it....only one word of advice - you need to ensure that you dissolve the previous business - even if you are going to operate under the same name, add inc, because IF YOU DO NOT - you will live in the personal hell that we have this year. Talk about problems with the IRS. Have you ever had the pleasure of waiting on the phone for a live IRS rep NO?!?! well, don't dissolve the business properly and you will have the pleasure of sitting on hold for an hour at a time - and have the ongoing drama and the penalties for this crazy crap. Good Luck - I think if I had to do it all over again - it was a waste to get incorporated at our size - jmo.
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Old 10-07-2003, 03:53 AM
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mower_babe, What part of IL. are you in? And what typ of INC. did you use?

I'm in Belleville, 15 minutes east of St. Louis.

Soupy
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Old 10-07-2003, 03:59 AM
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We are an S corp.

I am not fooling about the dissolution of the business - you need to make sure of that --I --- U MEd that our well paid, high profile lawyer would take care of all loose ends. But that did not happen. I am on a first name basis with the Internal revenue service now. I am still INC, but kinda regretfully.
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Old 10-07-2003, 12:01 PM
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Team Gopher Team Gopher is offline
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Hi Soupy,

Here are two posts you may want to review.

Going Inc. ????????

To Inc. or not
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  #9  
Old 10-07-2003, 06:01 PM
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mower_babe mower_babe is offline
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ok, now you edited the word "assumed." Has anyone ever heard assuming makes an --- out of you and me? I capitalized the letters that made my point and got edited. With all due respect moderators---good lord.
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  #10  
Old 10-07-2003, 08:05 PM
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Mower_babe, Thanks for your advice, I will miake sure I dissolve the old business first.

I was wondering what the heck the --I---U MED meant. Now I know. If things keep going the way they are around here, I'm going to have to find another message board.

Soupy
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