Becoming a LLC....

[spinner]

Does anyone have any idea as to how to go about becoming a LLC (Limited Liability Corporation)??

I have heard that it costs ALOT of money, I've heard that it only costs $50.
I have heard that you need a lawyer, I've heard you can do this online.

Basically, I have no idea.

I do have a DBA certificate (Doing Business As). This was VERY easy to acquire and VERY inexpensive. But this LLC seems much more complicated.

anyone have any suggestions????

-- spinner

 

[indietalk]

Keep in mind that if you don't have much money to sue for then don't worry about forming a corporation.

Why not? It's not how much money you have, it's protecting your personal assets. If you don't have any assets, they can file a judgement against you.

 

[Blade_Jones]

It's not how much money you have, it's protecting your personal assets. If you don't have any assets, they can file a judgement against you.

I mean money and assets. People don't sue other people unless there's something to win. Your poverty is their discouragement against lawsuits. If they win a judgment they will have nothing to collect. If you DO have assets, with a corporation then you can CUT your losses in the event you are faced with a grim case outlook.

 

[Spatula]

Your poverty is their discouragement against lawsuits.

Sweet! Poverty don't fail me now! Hopefully I can stay poor long enough to make that "unofficial" sequel to Masters of the Universe, where He-man and Skeletor are warped suddenly into the 80's, and must bunk together to pay the rent, while fending off the annoying neighbors with their swords. Special cameo by the (original) crew of the USS Enterprise, off on another time-travelling adventure into the slums of urban California circa 1988. Yet for some reason, the nazis are still in power. They were just such GOOD bad guys!

Wait, where did I get this from S Corporations? Maybe this is why I'm still poor....

 

[arcnaver]

My wife just formed an LLC in Idaho. She used Legalzoom and it was pretty easy and affordable. I read a post earlier about an Idaho LLC, sorry dont remember the username, but on this thread which is pretty much how it was for us. Though, the website did all the foot work for us. Also, you may want to log onto the IRS website and get their free business tax DVD, it explains company formation types and the tax's involved.

Good Luck.