In need of LLC help.

I'm looking to start a business here in Havasu and want to make it an LLC. Can anyone here help me with that or does anyone have any connections that could. Thanks

TLAW719 said:

I'm looking to start a business here in Havasu and want to make it an LLC. Can anyone here help me with that or does anyone have any connections that could. Thanks

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no need to pay anyone to set it up. Its actually quite easy. Legalzoom.com is your friend. Creating a business is simple. keeping it running is the hard
part.

it literally is this simple.

http://www.nolo.com/legal-encyclopedia/form-llc-how-to-organize-llc-30287.html

are you going to have partners? Thats where some issues may come up. But after you get the articles done through LZ its super simple.

The state can provide you with forms right at this link. Go to Limited Liability Forms.

You can use the form for incorporation and pull an operating agreement off the web.

The only consideration you want to give is whether or not it is a member managed or a manager managed LLC.

Make sure you pull off the right operating agreement based upon what type of management structure you choose.

If it has multiple members, the link to get an instant taxpayer ID is here: https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online

If you need help, PM me.

http://www.azcc.gov/Divisions/Corporations/forms/formsindex.asp

Have you guys heard of a Montana LLC? I've heard if I do that I won't have to pay sales taxes?

530RL said:

The state can provide you with forms right at this link. Go to Limited Liability Forms.

You can use the form for incorporation and pull an operating agreement off the web.

The only consideration you want to give is whether or not it is a member managed or a manager managed LLC.

Make sure you pull off the right operating agreement based upon what type of management structure you choose.

If it has multiple members, the link to get an instant taxpayer ID is here: https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online

If you need help, PM me.

http://www.azcc.gov/Divisions/Corporations/forms/formsindex.asp

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It would be a transportation business so I would be the owner/operator of the business. Maybe in the future I could hire someone else in but for now it would just be me.

I always advise my clients that are starting up a business to run it as a sole proprietorship (schedule C) at first to see how it goes. If you don't want to operate it under your name, pay a few bucks and get a DBA. If the business takes off then file for an LLC. It will save them some initial money and tax filing fees that they can use towards their startup. Just my $.02.

Best of luck on your business. :thumbsup

are you going to be hauling boats etc?


Good thread by the way.. Pink Taco and I are starting an LLC as well for an separate side biz for Rdp.

shintoooo said:

I always advise my clients that are starting up a business to run it as a sole proprietorship (schedule C) at first to see how it goes. If you don't want to operate it under your name, pay a few bucks and get a DBA. If the business takes off then file for an LLC. It will save them some initial money and tax filing fees that they can use towards their startup. Just my $.02.

Best of luck on your business. :thumbsup

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when are you going to be in Havasu next?

RiverDave said:

when are you going to be in Havasu next?

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Desert Storm lol

RiverDave said:

are you going to be hauling boats etc?


Good thread by the way.. Pink Taco and I are starting an LLC as well for an separate side biz for Rdp.

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Yeah that's my goal. Boats, campers and auto.

I will leave the tax and structure advice to the experts. I just fill out forms.

If you are going to need Motor Carrier Authority, you might look at that also and those considerations before deciding upon corporate or tax structure.

TLAW719 said:

Yeah that's my goal. Boats, campers and auto.

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Very cool... Good luck, Ty. I know nothing about this stuff, so no help for ya. LOL

I screwed up and set up the LLC for our riverhouse in CA. We have to pay $800 a year to just plain have the LLC. Can I redo the LLC in another state and save that yearly fee?

I have 3 of them.
1. My PI business is a Montana LLC, I do business in 4 states. No MT tax filing. It is about $400 first year and about $175 after plus my licensed LLC guy, another $75 or so. As some know on the boards, a MT LLC permits you to purchase business items, vehicles or boats in the name of your LLC, sales tax free but it must be in the LLC name and generally insured in the name of the LLC.

2. Nevada LLC, for our investment houses, no NV taxes due, about $350 a year.

3. CA S corp. Wifey has an import business and all business is conducted in CA, in the seven figures so no need to piss off CA. About $750.

If you are doing a DBA find a local registered agent to do your filing. You can do all of the paperwork yourself and avoid the Legal Zoom fees.

In Arizona it is 50 bucks to file articles of organization and they are good until the expiration date you put on them.

Only additional fees if you amend them.

No annual fee for the corporation and no minimum franchise tax fee on them like CA where it is 800 bucks.

No minimum tax on a state tax return.

Simpy

shintoooo said:

I always advise my clients that are starting up a business to run it as a sole proprietorship (schedule C) at first to see how it goes. If you don't want to operate it under your name, pay a few bucks and get a DBA. If the business takes off then file for an LLC. It will save them some initial money and tax filing fees that they can use towards their startup. Just my $.02.

Best of luck on your business. :thumbsup

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I agree but if you go to a LLC have a attorney put it together. If you have a accident or something goes wrong the small amount of money you paid will be worth it very quickly.

Sbarry said:

Very cool... Good luck, Ty. I know nothing about this stuff, so no help for ya. LOL

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Thanks Scott.

TCHB said:

I agree but if you go to a LLC have a attorney put it together. If you have a accident or something goes wrong the small amount of money you paid will be worth it very quickly.

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This is why I'm going LLC. Incase God forbid something bad happens. It's to cover my ass.

boatpi said:

I have 3 of them.
1. My PI business is a Montana LLC, I do business in 4 states. No MT tax filing. It is about $400 first year and about $175 after plus my licensed LLC guy, another $75 or so. As some know on the boards, a MT LLC permits you to purchase business items, vehicles or boats in the name of your LLC, sales tax free but it must be in the LLC name and generally insured in the name of the LLC.

2. Nevada LLC, for our investment houses, no NV taxes due, about $350 a year.

3. CA S corp. Wifey has an import business and all business is conducted in CA, in the seven figures so no need to piss off CA. About $750.

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This Montana LLC definitely interests me. It would be nice not having to pay taxes when the time comes for me to buy another truck or trailer.

I recently went the CA llc route because I already had my DBA filed In CA, and from everything I read, the DBA needs to be registered in same state at the llc.

If I didn't already have the DBA, I was likely going the NV or MT route.

FYI, I went with legal zoom. Very easy, cost effective and phone support was actually responsive and helpful.

Has anyone here formed an S Corp? I'm considering this.

BTW- If anyone knows of a good corporate attorney, please share. I'm in the process of staring another company.

530RL said:

In Arizona it is 50 bucks to file articles of organization and they are good until the expiration date you put on them.

Only additional fees if you amend them.

No annual fee for the corporation and no minimum franchise tax fee on them like CA where it is 800 bucks.

No minimum tax on a state tax return.

Simpy

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I set up mine all by myself in AZ as per everything 530L has provided... download the form from the AZ CC, fill it out and send in the check... publish in an online based newpaper and there you go.

The city I live in requires me to have a business license regardless of whether I do business in the city or even if I don't do a dollar of business all year. So you may want to check with Lake Havasu City for the annual license fee if they require it. So even though you dont pay the 800 dollar fee to CA, I have to pay 50 bucks a year or something to the City of Chandler and they hassle me for tax filings every month. All I do on that is check the box "no activity", sign it and send it in.. but it costs me 12 stamps a year....(HUGE write off for that book of stamps and lets me show a loss on my taxes)....

NiceGuyEddie said:

Has anyone here formed an S Corp? I'm considering this.

BTW- If anyone knows of a good corporate attorney, please share. I'm in the process of staring another company.

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My real estate business is an s-corp. About 10 years ago I used Andrew Stillwell. He is out of San Diego.

My unsolicited advice is DO NOT cheap out when creating a business entity. You want something strong that protects you if something ever happens.