What do you need to form a LLC?

Answer 1

Forming and operating an LLC or a corporation is a bit more complicated and than forming a partnership, but well worth the trouble for some small businesses. The main benefit of an LLC or a corporation is that these structures limit the owners' personal liability for business debts and court judgments against the business. What sets the corporation apart from all other types of businesses is that a corporation is an independent legal and tax entity, separate from the people who own, control and manage it. Because of this separate status, the owners of a corporation don't use their personal tax returns to pay tax on corporate profits -- the corporation itself pays these taxes. Owners pay personal income tax only on money they draw from the corporation in the form of salaries, bonuses, and the like. Like corporations, LLCs provide limited personal liability for business debts and claims. But when it comes to taxes, LLCs are more like partnerships: the owners of an LLC pay taxes on their shares of the business income on their personal tax returns. Corporations and LLCs make sense for business owners who either 1) run a risk of being sued by customers or of piling up a lot of business debts, or 2) have substantial personal assets they want to protect from business creditors. To learn more about forming an LLC or a corporation, see Nolo's articles on each topic at www.nolo.com

Answer 2

This depends on the policies of your State. In Oregon, for example, the entire process can be done on line with a credit card. It costs about $50.00 and takes less than an hour.

The Oregon website is: http://www.filinginoregon.com/

Answer 3

I used an excellent NY based company to set up my business LLC called USACORP they gave me excellent service and their price was also very competitive, they have a toll free no. 866.678.7226 they also have a nice web site usacorpinc.com.

Answer 4

To form an LLC you will have to fill out the application to the State which is called an Articles of Organization, you will need to submit this with a filing fee and you should receive your LLC within 5 to 10 business days.

Answer 5

The steps required to set up an LLC will depend upon your specific state's filing requirements. You will however need to file "articles of organization" at your secretary of state's office (a short form recording the name of the LLC, its members and their contact details). There will also be a filing fee. You should check your state's corporation office website for any other information that will be required. It is also useful to draft an "operating agreement" setting out what business you intend to undertake and what percentage ownership will be held by each member, for example. This can help resolve any future disputes.

Answer 6

Forming a limited liability company is much like any other process for forming a company. The best option here is to speak with an accountant to determine if an LLC structure for your business is ideal. Also confirm with them the process to get an LLC structure in place as this can vary from country to country.

Answer 7

You must submit an articles of incorporation, either online or mailed, to the secretary of state's office in the State where you reside.

Answer 8

You will need to submit an Articles of Organization to the Secretary of State where you live. There typically is a filing fee and the process can take anywhere from a few days to a month.

Answer 9

Some documents are needed to form a Limited Liability Company. They include articles of organization, operating agreement, and interest certificates.