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    9 Replies Latest reply on Sep 11, 2008 11:06 PM by ncsulilwolf

    Forming an LLC

    NeoSuplex Newbie
      I was planning on fileing as an LLC soon, and I'd like to know what sort of options I have as far as getting it done. I know that you can have a lawyer work with you and I also know of a site, Legal Zoom, that does this as well. Can anyone tell me a bit more about the choices, the process, and/or their expieriences with it?
        • Re: Forming an LLC
          CEO Space Scout
          Whenever I did anything like this, I had my attorney take care of all of it.

          I know others who have used www.incorporate.com and were happy with the results.
          1 of 1 people found this helpful
          • Re: Forming an LLC
            LUCKIEST Guide
            Sure, if I was planning on filing as an LLC soon, I would start with a business NAME.
            Then I would develop a Business Plan. I would go to " IRS.gov " and register the company and get
            a Federal I D Number.
            Every body in business should have an accountant, a lawyer and maybe an insurance broker.
            Good luck, LUCKIEST
            1 of 1 people found this helpful
            • Re: Forming an LLC
              pinevalley Newbie
              NeoSuplex,

              Filing an LLC is usually an easy process that you can do on your own without incurring legal fees. The best place to start is the website of your state's "Secretary of State".

              Good luck!
              • Re: Forming an LLC
                Lighthouse24 Ranger
                Your other post indicates that you're in Texas. If so, and if you plan to form the LLC here, you can get full info about how to do it yourself at:
                http://www.sos.state.tx.us/corp/forms/filingguide/html/llc.shtml
                  • Re: Forming an LLC
                    NeoSuplex Newbie
                    A few questions on that... What's the difference between a manager and a member? Also, what is the role of an organizer?
                      • Re: Forming an LLC
                        Lighthouse24 Ranger

                        Yes, it's confusing because unlike some states, an LLC in Texas is NOT a corporation.

                        The "Members" are the various entities that own the LLC. They can be individuals, partnerships, corporations, or any other legal entity. If you're the only owner, then it's you.

                        The "Managers" are the people who actively manage the company. A Texas LLC must elect to be either "Member-managed" (meaning the owners will actively participate in managing the company) or "Manager-managed" (meaning the owners are not actively participate in managing the company, but rather, hire managers to do it). So if the LLC is Manager-managed, the managers have to be named separately and listed. If it's Member-managed, it's the same person or people that are listed as members. So if you're the only member and you will manage the company yourself, it's you.

                        The "Organizer" is the person who files the paperwork the register the LLC. If you do it yourself, then it's you. If a third party does it for you (like LegalZoom), it will be their agent.

                        Does that clear it up?
                    • Re: Forming an LLC
                      xeeker Wayfarer
                      First, check with your accountant to find out what your tax and liability advantage is as an LLC vs. a sub chapter "S" or "C" corporation. First choose which one allows you the most freedom, financially and make certain that you are free to bankrupt the company without having to bankrupt personally.

                      You should be able to open the LLC or the Corporation YOURSELF, on-line. It takes about 90 minutes to go from A-Z and you'll have everything. You need to obtain a Federal Employer ID # (by phone) and you will likely have to get a business Occupational License in you town, county and state. Your town will tell you what you need by, phone or in person.

                      If you open an LLC, you would be the "Managing Member". Here in FL, for a smaller, individual business, this is the best way to go. You can still have employees, as needed and it is fine as long as you keep it small. If you will have employees, from the outset, a Sub Chapter "S" Corporation would be most appropriate (opens just as easily, on-line), but watch out, because your employees will be required to be provided with Work Comp.
                      • Re: Forming an LLC
                        MDF2008 Wayfarer

                        *+You have several options to consider f
                        + 1. You can complete and submit the LLC forms yourself and save some money.+

                        + 2. You can hire a firm to complete the entire process.+

                        *+ 3. What is your budget?+ *

                        + 4. Do you have a business plan?+