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Forming a Limited Liability Company (LLC)


General Business Discussions

A place to talk about general business discussions.
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Old 11-04-2005, 07:33 PM
mowboy mowboy is offline
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This question comes to us from Laurie. She wanted to know about forming a limited liability company (LLC).

The question of whether to incorporate your company is a good one. At first glance it may seem to have lots to offer but make sure to investigate the details before making the move - to be sure it's right for you.

First off read this post about the pros and cons of a LLC.

As for the 'how' of forming an LLC I can provide a little direction but you will have to continue your research because the laws differ from state to state and certainly from Canada (where I live) and the US. These things are for sure:

- Get professional advice (ie your accountant and/or lawyer) before forming a limited company.

- You will have to either pay a lawyer to get you incorporated ($$$) in which case they will provide all the forms and advice you need. Or you can probably save some money and fill out the forms yourself. They have 'Incorporate Your Company' kits here and I'll bet they have them for your state too. I have not read this book but I'm familiar with the publisher and can say the book will contain all the info you need to incorporate). Doing it yourself will still cost you some money as the government will charge you a fee to register your limited liability company. As well, remember that there will be an anuual fee to stay incorporated.

I hope this helps to steer you in the right direction. Let us know if you have further questions. Good luck with your business, incorporated or not!
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