how did you LLC?

Discussion in 'Business Operations' started by lawnwizards, Feb 15, 2008.

  1. lawnwizards

    lawnwizards LawnSite Silver Member
    Messages: 2,439

    i read on here a story about a company being sued for over 3 million because a man slipped on some ice on a property they cleared. it got me to thinking that maybe i should LLC to keep my personal assets clear. anyway, how did you all become a Limited Liability Corp and how much did it cost? i was looking on and its like $139 bucks. is this a good deal? thanks for replies.
  2. Lawnvision

    Lawnvision LawnSite Member
    Messages: 56

    Sounds like a good price. I formed my LLC through my accountant and the Sec. of State. An attorney will cost $500-1000.
  3. chuck bow

    chuck bow LawnSite Senior Member
    Messages: 701

    Me too, well iam not a LLC iam a s corp ( INC ) My CPA set it up and registered with Sec of State
  4. lawnwizards

    lawnwizards LawnSite Silver Member
    Messages: 2,439

    should i LLC or should i go another route? i eventually plan to expand beyond solo.
  5. Lawnvision

    Lawnvision LawnSite Member
    Messages: 56

    C-corp and s-corp I believe are types of LLC's.(Not 100% sure...I just cut grass for a living )Or are very similar in terms of legal protection.
  6. topsites

    topsites LawnSite Fanatic
    Messages: 21,653

    An LLC is a business license on top of a business license, what happens is you still need your local county or city permit but instead of going in your name it goes in the name of the LLC. That is called incorporation, you have just incorporated your local LCO under the LLC's umbrella license, and afaik you can have more than one business under it as well but ask your accountant. As for the type of LLC I believe this can be determined later and is mostly for tax purposes, but again they are right ask your accountant.

    As for getting it you can either drive down to the State Corporation Commission... This building will be located downtown your state's capital and only in that city, or and I am pretty sure you can do it by mail...

    There is a fee, I think $100 initial then $50 a year.
  7. Lawnvision

    Lawnvision LawnSite Member
    Messages: 56

    One Advantage of incorporating is that you do noy pay self-employment tax.
  8. wintergreenlawn&landscape

    wintergreenlawn&landscape LawnSite Member
    from CT
    Messages: 174

    I just did it. Its easy. Go to your state website and download the necessary paperwork. Its on their business site, usually under the secretary of state. You have to register and get the name of your business approved to make sure no one else has it. That was a $30 fee in CT. Then you fill out the actual registration paperwork for $60. Then every year we have to pay $250 to keep the LLC. Its a little money for a lot of protection.
  9. lawnwizards

    lawnwizards LawnSite Silver Member
    Messages: 2,439

    thanks to everyone. you all have been very helpful.
  10. old oak lawn

    old oak lawn LawnSite Senior Member
    Messages: 703

    my attorney did mine llc. $600.00. you can do it yourself like others said, but for me i feel better that a attorney did mine. mine is 6 pages long.

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