Setting up an LLC
Anyone on the site have experience with this? Primarily in Delaware of Nevada. Would like to hear some rec's on books, services, etc. Not opposed to doing it myself or paying for a service. Thanks.
Anyone on the site have experience with this? Primarily in Delaware of Nevada. Would like to hear some rec's on books, services, etc. Not opposed to doing it myself or paying for a service. Thanks.
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Check out Legalzoom.com. Relatively cheap and simple way to do it. They have a fair amount of information on there as well.
Random aside, I'd also check Quora.com to see if this has been discussed, lots of business owners / entrepreneur types on there.
RocketLawyer is also an pretty good service, and I believe is cheaper than LegalZoom.
Nevada and Delaware makes sense depending on the size of your business. If you primarily do business in another state, you still are exposed to a fair amount of registration fees and tax issues (e.g. if you mostly do business in CA, you still have to pay a ton of CA taxes regardless of where you registered the LLC).
Thanks for the tips. I'll check Quora. Delaware is attractive since I can pay 350 for a business address, etc. Nevada would be exceptionally nice, but I might be "stretching" the limits of doing business in the state. I'll chat with a lawyer friend this weekend.
Thanks!
Ant, PM me when you get a chance. We'll discuss.
ANT, is this business related or are you trying your hand at a start up?
Edit: Just thought about it, more likely tax related?
Some house in Nevada is home to 2400 corporations
http://www.cnbc.com/id/46404372/
fwiw
I setup an S-corp for my med device company in DE. You will need a filing agent if you don't have a place of business in the state in which you're registering. Not hard to do, DE courts are traditionally more lenient to for profit corps and more lawyers understand state law, so that's why it's so popular.
I could be wrong, but I don't think it gets cheaper and/or easier than this:
http://www.mycorporation.com/
That said, I've always felt more comfortable having an actual attorney set it all up for me.
I just set one up in Nevada about a month ago.
You don't need to do business in Nevada as long as you have a registered representative (I used Incorp). You can find all the documents on the Secretary of State of Nevada website -- you need to file the articles of incorporation, initial officers list, and business license app (I think, I forget the names, but there are only 2-3 forms). Total cost was $400. If you use a registered rep, they need to give you a pdf that you can submit with you app to Sec of State. There's no need to pay a lawyer or anyone else as long as you are not retarded (you can call incorp direct and get free advice anyway). PM me if you want to go over the details.
If you want to call incorp and have them walk you through it for free, the number is 800-246-2677. The website is freeregisteredagent.com
Legalzoom is pricey but its a one-stop shop with everything you need, including the in-state registered rep. I used them for a Wyoming LLC and it couldn't have been easier. If taxes and all that is a concern, you need to read up on WY. Just as attractive as Nevada with lower filing fees.
Related relevant question:
--If one is looking to start a business, is he better off setting up an LLC or incorporating?
As far as I can tell, the only advantage in incorporating would be for purposes of raising money through VCs or other professional investors. If that's not relevant, LLCs are the way to go. Or am I misguided?
I think that unless you are going to ramp the business fast and/or it has serious cash, etc, you should just go with an LLC. Corps have a lot of expenses, etc.
What do you plan on doing? That's the 1st question.
Thanks. That ties to the reading I've done.
Here's a good website I found through Quora that covers this sort of stuff:
http://danashultz.com/blog/2009/08/14/should-i-form-an-llc-or-a-corpora…
And a good thread on Quora:
http://www.quora.com/Should-I-incorporate-or-do-an-LLC
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