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Old 27th April 2007, 10:35 PM   #5
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Join Date: Apr 2007
Location: Seattle, Washington
Posts: 203
Default Some ideas about forming an LLC

I'm new here (just registered) so I'll try to first give a bit of bio info to let you place my remarks in context. I'm a CPA in Seattle area, author of QuickBooks for Dummies (and a bunch of other books, too), formerly an adjunct tax professor at GGU (where I taught llc versus S corporation taxation), and also the author of do-it-yourself llc formation kits for, well, all fifty states. I won't plug the URL here, but you can easily enough google on me or llc formation to find the sites...

On to your questions/comments:

1. If you'll operate in NY, you need to either form your LLC in NY... or you can form in Delware and then register in NY as a foreign LLC. This means that you will have to go through the NY formation steps (including giving notice) one way or another. People often misunderstand this... Out here in the West, people commonly choose Nevada. But this doesn't work. If you have a presence in a state, you have to register and pay taxes to that state.

2. You can rather easily form an LLC yourself... Or you can use one of the online paralegal services... Or you can have an attorney do it. I think a general rule is, the more you spend, the less work you have to do. And if you involve an attorney, you can get your questions about liability protection answered.

3. My general recommendation about using an attorney or a do-it-yourself approach is this: If you're setting up something like an LLC or corporation for tax purposes, I think you can easily do it yourself. If you're setting up an LLC or corporation for legal liability limitation purposes, I think you want spend the money on an attorney.

4. As far as finding an attorney, llc formation is really pretty basic. Using the Yellow Pages, IMHO, would be fine. Google search would work just fine, too. A referral from one of our friends would also be a great way to do it.

Good luck!

Steve Nelson, Publisher, www dot llcsexplained dot com and www dot fasteasyincorporationkits dot com.

Last edited by SeattleCPA; 28th April 2007 at 05:56 PM. Reason: add sig
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