sole prop to LLC

Discussion in 'Business Operations' started by The landscaper, Dec 12, 2005.

  1. The landscaper

    The landscaper LawnSite Senior Member
    Posts: 845

    Has anyone switched the business from sole prop to a LLC?

    If so, what do I need to do to switch over. Also, as the a LLC I will have a partner if that makes any difference in the process.
     
  2. MacLawnCo

    MacLawnCo LawnSite Bronze Member
    Posts: 1,847

    partner will make it an LLP.
     
  3. lawnsbyrj

    lawnsbyrj LawnSite Member
    Posts: 147

    talk to an accountant, a real CPA not a tax preparer. my guy handeled most of it for me i just had to register my Company name.
     
  4. MacLawnCo

    MacLawnCo LawnSite Bronze Member
    Posts: 1,847

    why the hell do people think an accountant is skilled in forming legal entities. That is NOT our jobs. You will need a lawyer for this if you do not want to do it.
     
  5. landtastic

    landtastic LawnSite Member
    Posts: 13

    Word, that advise is woth some money MacLawn.
     
  6. jasonnau

    jasonnau LawnSite Senior Member
    Posts: 454

    $60.00 per hour for my accountant.
     
  7. lawnsbyrj

    lawnsbyrj LawnSite Member
    Posts: 147

    Mine is much cheaper than that he printed the papers and it all cost me $100 so hey what ever
     
  8. MMLawn

    MMLawn LawnSite Gold Member
    Posts: 3,569

    Then your not an LLC.....cause the LLC filing fee alone in NC is $125.00 and then a yearly $200.00 fee.

    and "all" the papers is only 1.5 pages that can be downloaded for FREE directly from the NC SOS website.
     
  9. Green-Pro

    Green-Pro LawnSite Bronze Member
    Posts: 1,420

    I would check YOUR states regs/laws. These will vary from state to state, for instance here in Iowa its a one time filing fee of ( can't recall but I believe) $50 to register and be recognized as an LLC, incorporation requires yearly renewal, both require articles of incorporation be filed with the Sec. of State.

    Here is the link for Ohio Sec. of State website, really shouldn't be that difficult of a task to handle yourself. I met with my CPA to gain more insight from a tax standpoint what business entity would best serve our purposes. This year was extremely good, over the next couple of years we will make the determination whether to incorporate or not.

    Heres the link: http://www.sos.state.oh.us/SOSApps/SOS/FormRefbs.aspx/

    A lot of these fellas are right a good CPA is IMO a must to consult with and I did, but I also did a helluva lot of research on my own, paperwork on my own and saved myself some money there.
     
  10. The landscaper

    The landscaper LawnSite Senior Member
    Posts: 845

    I believe I can have a partner and still be a LLC. You can have as many as you would like and they are called members, not partners at that point.

    What exactly are the articles of incorporation?
    Does anyone have an example of a partnership agreement I could take a look at. I don't want to leave anything out of it.
     

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