Starting an LLC: Where to begin?

Greetings, everyone.

I have been wondering, on average, how many days does it typically take to officially register an LLC?
Thank you.

Greetings, everyone.

A quick and straightforward question for the experts here 😁: what is the TOTAL cost to incorporate an LLC?

The items I am currently aware of (based on CNN):

• Venture capital - $6.75
• Court fees - $133
• The Washington Post publication costs - $300
• Secretary of State business registry filing fees - $18
• Registration fees for specific business components - $2.00

Summing it all up, I have $7120, though I am certain the actual figure is higher. If it isn't too much trouble, I would appreciate it if the professionals could supplement this list with any missing line items and their respective costs.

Best regards to you all.

It took me about two weeks, personally.

On top of the actual fees, you’ve got to factor in notary costs... All told, you're looking at somewhere between $3,500 and $5,000, depending on how things shake out.$0.00 😉

Henry Edwards33 said:It took me about two weeks, personally.

On top of the actual fees, you’ve got to factor in notary costs... All told, you're looking at somewhere between $3,500 and $5,000, depending on how things shake out.$0.00 😉

Donald Trump!

George Hernandez8 said:Donald Trump!

That $3,100 was just for the stamp... I settled up today, so I'm giving you the firsthand scoop. Maybe some people are getting ripped off more than others, but that was my price. It probably depends on what kind of business you're running—I definitely threw a bunch of extra stuff into the mix.

George Hernandez8 said:Donald Trump!

covered the notary fees$1017.

Henry Edwards33 said:It took me about two weeks, personally.

On top of the actual fees, you’ve got to factor in notary costs... All told, you're looking at somewhere between $3,500 and $5,000, depending on how things shake out.$0.00 😉

Thanks.👍

Cash is a bit tight right now, but my schedule is filling up fast, so I’m feeling super optimistic about next year being way better than this one. I run a small business, and honestly, I'm a little stressed about hitting those higher tax brackets—I think they recently changed some rules, and it feels like a massive chunk of my income would just vanish. It's going to be a struggle to scrape together $20,000 by the end of the year, but my goal is to transition into an LLC starting January 1st. I already own equipment and computers worth over $17, though I know their resale value has probably dipped since I started using them. Does anyone know if I can transfer those assets from my sole proprietorship to the new LLC to count toward my initial capital? Has anyone actually pulled that off?
Or, is there a way to use my gear as collateral for a short-term loan to get some quick liquidity, then pay it back later? Is that even a thing people do?
Also, if I end up needing to go through an auditor, is that process a total nightmare in terms of time and cost? What has your experience been like?
Thanks so much for any advice you can throw my way!

Maybe someone here actually knows the drill... where to go, how to start, what's what...

I have a few questions since I'm completely in the dark on this.

Basically, I want to launch a small business or an LLC—not sure which makes more sense—focused on transport. I’d start by picking up a single cargo van, but I need some clarity on a few things.

1. Sole proprietorship or an LLC?

2. What’s the checklist? Where do I even begin to make this happen?

3. What kind of capital am I looking at to get an LLC or sole proprietorship off the ground? Right now, I’ve got about $10,000 in savings.

4. Once the business is live, how does tax work? For instance, if a van at a dealership costs $123 $0.00 for a regular consumer, $0.00 is it true that as a business owner it would only cost me $100?

5. Also, say I set up the company and lease a van—what serves as collateral for that lease, assuming that's even an option?

I really want to be my own boss, but the whole process of setting up a business is a total mystery to me.

fadedlynx6 said:Maybe someone here actually knows the drill... where to go, how to start, what's what...

I have a few questions since I'm completely in the dark on this.

Basically, I want to launch a small business or an LLC—not sure which makes more sense—focused on transport. I’d start by picking up a single cargo van, but I need some clarity on a few things.

1. Sole proprietorship or an LLC?

2. What’s the checklist? Where do I even begin to make this happen?

3. What kind of capital am I looking at to get an LLC or sole proprietorship off the ground? Right now, I’ve got about $10,000 in savings.

4. Once the business is live, how does tax work? For instance, if a van at a dealership costs $123 $0.00 for a regular consumer, $0.00 is it true that as a business owner it would only cost me $100?

5. Also, say I set up the company and lease a van—what serves as collateral for that lease, assuming that's even an option?

I really want to be my own boss, but the whole process of setting up a business is a total mystery to me.

1. Both sole proprietorships and LLCs have their own set of pros and cons, so the choice really comes down to your specific situation. The Chamber of Commerce has a great breakdown explaining the differences if you want to actually do your homework. Check it out here:
http://www.uschamber.com/business/faq/sole-proprietorship-vs-llc

2. Honestly, my advice? Just head down to a local Small Business Administration office or a specialized legal service center. They can walk you through the specifics for both structures, which will save you a massive amount of running around later.

3. To start a sole proprietorship, you're looking at roughly $333, whereas an LLC will run you about $6667 in initial capital plus anywhere from $3,500.00 to $1667 in setup fees. The notary is usually the biggest chunk of that, but since prices vary wildly depending on where you go, you should definitely shop around first.

4. As for the car, you'll only be able to claim that $100,000.00 price tag minus sales tax if you opt into the sales tax system immediately. Now, you might be forced into the sales tax system by law if your annual revenue exceeds $28333, and if you dip back below that threshold later, you can opt out. However, if you choose to register voluntarily, you're stuck in that system for the next five years regardless of how much you make. You really need to sit down and figure out if that's actually going to benefit you in the long run.

Since I am currently in the process of incorporating a new business, the question of appointing a director has come up. I am presently a full-time college student. Would I be required to withdraw from my studies entirely, or could I simply take a leave of absence, register for employment to satisfy the requirements, and then return to my coursework?

Furthermore, would I need to officially employ myself as the director and draw a salary, or is it possible for a corporation to operate without having an employee serving as its director? As of right now, no one else would be on the payroll...

A CEO doesn't actually have to be an employee of the company they run. It’s entirely possible that your director is someone already holding down a full-time gig elsewhere, while you’re just stepping in as the authorized representative...

rowdybadger3 said:That $3,100 was just for the stamp... I settled up today, so I'm giving you the firsthand scoop. Maybe some people are getting ripped off more than others, but that was my price. It probably depends on what kind of business you're running—I definitely threw a bunch of extra stuff into the mix.

How many different business activities can you actually list when you're first setting things up?

Good afternoon, I was wondering if it’s actually possible to transfer ownership of a company to someone who currently holds a position in public administration? I'd appreciate any insight. Thanks!!

George Hernandez8 said:Since I am currently in the process of incorporating a new business, the question of appointing a director has come up. I am presently a full-time college student. Would I be required to withdraw from my studies entirely, or could I simply take a leave of absence, register for employment to satisfy the requirements, and then return to my coursework?

Furthermore, would I need to officially employ myself as the director and draw a salary, or is it possible for a corporation to operate without having an employee serving as its director? As of right now, no one else would be on the payroll...

Sorry for the late reply, but here’s what happened in my neck of the woods.
You don't need to drop out! You can totally get a job set up using your high school credentials. You don't even really need to grab your official files from the university, but if you do need something, you can just ask the registrar to loan them to you for a week...
I had people at the IRS and other government offices telling me that being a full-time student meant I couldn't hold a regular job, which is just flat-out wrong. There isn't some secret law forbidding it!
Basically, you just can't collect certain scholarships or sign up for unemployment benefits after you've been out of work for nine months while you're a full-time student. But being a manager or having a standard job? Totally fine.
Most of my friends did exactly that—they used their high school info to get things moving—or they just picked up shifts through those student employment agencies...

Kevin Bishop9 said:How many different business activities can you actually list when you're first setting things up?

With an LLC, you aren't stuck with just one thing! You can have several different business activities, and you don't have to list them all right at the start. If things take off and you want to branch out later, no big deal... you just update your filings with the Secretary of State to add those extra activities to your existing LLC. Super easy!

Susan Cooper84 said:Good afternoon, I was wondering if it’s actually possible to transfer ownership of a company to someone who currently holds a position in public administration? I'd appreciate any insight. Thanks!!

I'm not totally sure what you're asking, but the short answer is yes... it can be done.
You can liquidate a company, sell it, or merge it, so I don't see any reason why you couldn't hand over the reins to another person.
I know plenty of people who own multiple businesses, and I've even seen cases where someone working at a federal agency is a co-owner of an LLC...
The only thing is, transferring ownership definitely comes with a price tag (you'll have to pay fees), and maybe there's a catch regarding a conflict of interest for that person working in the public sector...

I’m looking into buying a majority stake—over 50%—in a corporation or LLC through HBO. I want to know if that gives me full control over management. Does holding the majority mean I become the CEO? Or maybe a proxy? Can I swap out the board of directors or even join it myself? I'm retired, so I have the time. I’m probably overlooking some technicalities here, so I’d appreciate a detailed breakdown. Thanks.

Good morning! A few of us have been chatting about starting an LLC, and I’ve got some questions—I've read through the previous pages, but I'm still feeling a bit turned around regarding how this all works.
1. Is it possible for a part-owner to remain anonymous? Like, can we keep their names from being visible anywhere in the public record?
2. Could we draft an internal ownership agreement among several people, where only one person is officially listed as the voice/representative (to address my first question)?
3. Can a company operate without actually having any employees on the payroll?
4. Can the director be a college student? Someone who isn't working anywhere else right now, but also isn't registered as unemployed with the labor office?
5. Is a company required to hire anyone else besides the director?
6. Could a company with just the owner—or the absolute bare minimum number of people required—hire outside contractors?
7. Can such a company hire someone directly without needing to go through public job postings or making changes to the articles of incorporation with a notary?

To give you a clearer picture: let's say the company is registered in my name—I'm a student, so I'd act as the director if that's what's necessary. And if it's required, I'd be the employee too. But in reality, the business would be owned by five people, all of whom have various conflicts of interest regarding co-ownership. They would essentially function as outside consultants or advisors... something like that. Is there a way to structure it like this?
Thanks!

Hey there!
So, I’ve got a few questions floating around my head, and I was hoping maybe someone here might have some insight to share if they know the ropes.
I'm thinking about starting an LLC with a buddy of mine from Canada—he isn't an American citizen, so things might be a little tricky.
1. Is it actually possible for him to be a co-owner? And if he is, would he still need to go through the whole work permit process?
2. Or, would it make more sense for him to just be an employee instead (assuming being a co-owner isn't an option)?
3. Also, could he just open the company here in the States all by himself? I mean, I wouldn't even have to get involved in the paperwork since I'm really just trying to help him out.
4. Are there any big legal hurdles or important details I should keep in mind when dealing with a foreign national acting as a co-owner, an owner, or just an employee?
Thanks so much!!