In recent years setting up an LLC has become one of the most sought after ways to legalize the structure of a company.
The reasons are quite pure and simple.
It’s just about the easiest way to legalize your business in the least amount of time with tax benefits and added protection for personal assets, although exact requirements will vary from state to state.
Some people choose to set up the LLC on their own with no professional help.
For the most part, it’s a matter of contacting your state’s Secretary of State office and requesting an “articles of incorporation” form be mailed to you or just search for your state’s Secretary of State office online and download some of the forms.
Usually the state’s online site will display specific steps for you to follow such as choosing a name for your business, making sure the business name is available, filling out the articles of incorporation form and mailing it back along with your state fees, etc.
You will also need to seek a registered agent to act as a liaison in the event of a lawsuit.
I personally don’t like setting up an LLC on my own because it’s just too much paperwork for me. I much prefer having professionals do it so everything is done properly the first go around. You can’t ever be too serious when it comes to your business.
As a matter of fact, I just recently used a company by the name of CorpNet, Incorporated to set up a new company with a business associate of mine. The price was a bit more than doing it myself but they did an awesome job and they were extremely thorough and fast.
Setting up your LLC can be done easily on their corporate website and they didn’t have any problems with me calling and asking questions either. Amanda, Andrea and Stephanie were all very polite and professional folks and offered a 100% money back guarantee if we weren’t happy.
At the present time, you can Incorporate a Business or Form an LLC – Fast! Get 10% Off Any Service! Use code: Corpnet1 – Buy Now! if you’re planning on using them.
You can also do a Free Corporate Name Search if you want to make sure your company name isn’t already taken.
Finally, with most small businesses, it’s a good idea to incorporate in your own state unless you have a valid reason for incorporating out of state. Some large companies choose to set up in other states acting as a tax shelter but this can be more problems than it’s worth. If you’re considering setting up out of state I would advise you to seek council from an attorney as well as your accountant before doing so.
Ok…that’s about all I have for this entry.
Just remember….setting up an LLC can have real benefits but it’s also a serious step.
Regardless if you set it up yourself or decide to pay a professional, do your homework and do it well.