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Anyone here ever set themselves up as a LLC?

A

Arkitech

Diamond Member
I need to setup a company name as well as establish a limited liability corporation. Is this something that I can do on my own or would I be better off contacting a lawyer?

Thanks for any advice
 
You can do it yourself. You just need to get the right forms for your area. Contact your local city hall type place to get informatino and get started on the right track. an LLC is just like a Sole Proprietership but with the liability limitations in there. All youdo is pay a fee and fill out a form.
 
I did mine online. Took about 10 minutes. A lot of preperation and research went into deciding to go LLC though.
 
Originally posted by: FrankyJunior
You can do it yourself. You just need to get the right forms for your area. Contact your local city hall type place to get informatino and get started on the right track. an LLC is just like a Sole Proprietership but with the liability limitations in there. All youdo is pay a fee and fill out a form.
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yikes I just found out the fees to register a company name in illinois is 300 bucks. I need to do 2 company names, this will be expensive
 
Originally posted by: Trygve
Takes a matter of minutes and doesn't cost much. No reason to get a lawyer involved.
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cool, that should save me a few bucks.

I've been poking around www.sba.gov there's tons of info out there, they even have free counseling. I may try to swing by their offices today
 
you can file online in certain states, such as texas or florida.

illinois from what i know of, you cannot file online. and yes, unfortunately they have very high filing fees. also double check, i think they have annual report fees/franchise fees, can't remember right now.

i work in setting up llc's/corps, pm if you have questions. i may pimp my company though. 😛
 
I had my CPA register my S-Corp. It's a rather simple process in Oklahoma, but I prefer to let my CPA handle such things.
 
i think you may need a registered agent as well... and that usually is someone who has some legal background (but not necessarily)
 
Originally posted by: tami
i think you may need a registered agent as well... and that usually is someone who has some legal background (but not necessarily)
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legal background is not required. the registered agent must have a physical address in the state you wish to form your LLC/incorporate in. the registered agent is responsible for delivering to the LLC/Corp all service of process brought against the llc/corp.
 
i do this all the time, it's easy just contact you secretary of state and find out how.

most online places do it real cheap but it takes a long time.

you dont need a "registered" agent, that could be you.
 
btw, LLC in IL is 500.00 filing fee.

you have to have someone serve as the registered agent. you can serve as your own registered agent. you do not have to hire someone to be the registered agent. the only benefit of hiring someone is that it will keep your address private. the LLC cannot serve as their own registered agent.

however in IL you must give a business address, and if you're running it out of your home, and have no other business address, then that's the address you must give. PO boxes alone are not allowed on the articles for IL LLC's.
 
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