LegalZoom LLC How To Form An LLC With LegalZoom.com

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Information about LegalZoom LLC How To Form An LLC With LegalZoom.com
Education

Published on January 15, 2014

Author: FitSmallBusiness

Source: slideshare.net

Description

In today's presentation we are going to take a look on how to form an LLC with legalzoom.com. So let's get started.

How To Form An LLC With LegalZoom.com by FitSmallBusiness.com

Creating your LLC with is a simple process that can save you hundreds of dollars vs. using an attorney and a few headaches vs. doing it yourself.

There are 3 basic to starting an LLC steps on LegalZoom.

First, an online account You must create and complete a questionnaire. You are not required to make payment or enter your credit card details in order to complete the questionnaire.

Questions you will need to be ready to answer: • Would you like LegalZoom to apply to the IRS for a federal tax identification number?

Questions you will need to be ready to answer: • Would you like LegalZoom to apply to the IRS for a federal tax identification number? Note that you can do this yourself without cost by visiting this page.

Questions you will need to be ready to answer: • What state would you like to file in?

Questions you will need to be ready to answer: • What state would you like to file in? You will need to have a registered agent with a physical address in that other state where any company documentation can be sent.

Questions you will need to be ready to answer: • What state would you like to file in? You will need to have a registered agent with a physical address in that other state where any company documentation can be sent. Here is an article to help you decide in what state to file your LLC.

Questions you will need to be ready to answer: • What is the legal name of your LLC? Will the LLC operate under a different name than your service or business?

Questions you will need to be ready to answer: • What is the legal name of your LLC? Will the LLC operate under a different name than your service or business? It’s a good idea to have a few predetermined back-up names in case LegalZoom finds your name choice has already been taken.

Questions you will need to be ready to answer: • What is the legal name of your LLC? Will the LLC operate under a different name than your service or business? It’s a good idea to have a few predetermined back-up names in case LegalZoom finds your name choice has already been taken. See our article on choosing a business name here.

Questions you will need to be ready to answer: • What is your LLC’s business address?

Questions you will need to be ready to answer: • What is your LLC’s business address? Keep in mind that, depending on your business, there may be zoning restrictions for operating your business out of your home address. Check with your local zoning office if you are unsure.

Questions you will need to be ready to answer: • Who will manage the company?

Questions you will need to be ready to answer: • Who will manage the company? Will one partner run the company or will you hire a manager? Be ready to list the members of your LLC, their capital contribution and their percentage ownership of the company.

Questions you will need to be ready to answer: • How will the LLC be taxed?

Questions you will need to be ready to answer: • How will the LLC be taxed? You can create a pass-through entity such as a partnership or sole proprietor or a corporation. Here is a helpful article.

Questions you will need to be ready to answer:

Questions you will need to be ready to answer: • How and when will profits be distributed?

Questions you will need to be ready to answer: • How and when will profits be distributed? • Under what terms can members leave the LLC?

Questions you will need to be ready to answer: • How and when will profits be distributed? • Under what terms can members leave the LLC? • Who contributes what if the LLC needs more capital?

The next step is to select a service option.

The next step is to select a service option. You can choose from three different LLC formation packages.

The economy Package

The economy Package Starts at $99 and includes: preliminary clearance of your LLC name, the filing of your LLC’s Articles of Organization and an individualized operating agreement.

The Standard Package

The Standard Package Starts at $289 and includes the economy package service plus a kit printed with your company‘s name, a company seal and 20 membership certificates.

The Express gold Package

The Express gold Package Starts at $359 and includes everything in the standard package plus expedited seven to 10 business day service, Federal Tax ID (EIN) application, a 30-day trial to LegalZoom’s business attorney plan, dozens of business forms and a threemonth subscription to QuickBooks online accounting software.

Applying for your EIN number is relatively simple It can be done for free here, so this really comes down to whether or not you need your LLC formation expedited.

Keep in Mind That in addition to the LegalZoom package fee, you must also pay your state’s filing fees.

Keep in Mind That in addition to the LegalZoom package fee, you must also pay your state’s filing fees. The majority of which are in the $50-$200 range. NY is $200. FL is $138.75. CA is $85. TX is $300. Expedited fees are additional in most states.

The Big Advantage of LegalZoom Is that you can save substantial money on legal fees.

The Big Advantage of LegalZoom Is that you can save substantial money on legal fees. Some attorneys can charge up to $2,000 for a basic LLC setup.

The Big DisAdvantage of LegalZoom

If you have partners in your business then one of the most important things you can do when setting up your LLC is putting together a well thought out operating and buy sell agreement.

Because there are many variables with these documents that are specific for each business, having an attorney draft them is advisable.

Because there are many variables with these documents that are specific for each business, having an attorney draft them is advisable. As many people cannot afford the $1000 + fee for this however, using LegalZoom is a good alternative.

And Finally...

To learn how to simplify the process of running your business visit us at....

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