| LLC is an acronym for Limited Liability Company. | | | | An LLC is relatively inexpensive to obtain and most |
| Setting up an LLC is a rather short process with | | | | costs are for the filing of the document. Depending on |
| exacting requirements that may be different from | | | | your state, it can run you anywhere from $40 to $900 |
| state to state. | | | | to file an LLC Articles of Organization form, although |
| The Process | | | | some fees have been known to run as high as $2,000. |
| Setting up an LLC is a 7 step process. | | | | It also only takes 1-4 hours to complete the process |
| To get the ball rolling the first thing you need to do is | | | | going by the size or intricacies of the company. |
| get a copy of your states LLC Articles Of | | | | Legal |
| Organization Form and find out if you are required to | | | | This process can be done with or without legal |
| post your intent in the newspaper. Then you have to | | | | representation. You can go through the process |
| decide upon a name for your company, careful to | | | | yourself or hand it over to an attorney to do it for you |
| follow the states prohibited words list. When choosing | | | | but since the process is so easy and takes such a |
| a name for your company, LLC must come at the end | | | | short amount of time and you are already paying a |
| of the company name. Going back to the LLC Articles | | | | fee to file, there are a lot of small business owners |
| of Organization Form, and fill this out to be filed. Note: If | | | | that will go through the steps themselves rather than |
| your state requires it, you must publish your intent in the | | | | add legal fees to the budget. There are also online |
| newspapers and should be done prior to filing the | | | | services to help you with the process that have a |
| Articles of Organization Form. If you're not sure, you | | | | price range of $35-$400. Even more there are books |
| can find out through your Secretary Of State. Once | | | | that guide you through the process that would cost |
| you have filled out the form you are ready to file it, | | | | you about $17 to $45 and software from $60 to $90. |
| with a fee which could be anywhere from $40 to | | | | What's Next? |
| $900, according to your state's fee requirement. The | | | | There are yearly fees incurred in order to maintain an |
| final step would be to draw up an LLC Operating | | | | LLC and could cost anywhere from $20 to $800 |
| Agreement, but this can be done after the filing of the | | | | depending on what state your business is located. As |
| Articles of Organization Form. The LLC Operating | | | | with any business related licenses, creating an LCC, its |
| Agreement lists such things as management rights, | | | | pros and cons should be discussed with a lawyer to |
| financial rights and responsibilities of the LLC Members. | | | | be sure that it is the right move for your company. |
| Costs of Setting Up an LLC | | | | |