Anyone know how to form an LLC?

[Reefer420]

I want to get rolling on a few business ideas I've had and I want to get the ball rolling on forming an LLC for myself. Anyone have experience doing this?

I've gotten the Articles of Organization for the Dept. of State, but I am unsure what to do next. I know I need to get an employer tax ID number, file in a local paper for 2wks notification that I am forming an LLC, and need to fill out an operating agreement within 90days of filling out my Articles of ORganization...etc.

Has anyone used on online service to do all this? They can be pricey and I wonder if its worth it. Doesn't seem too hard, its just that I can't find a place (even the DOS website) that clearly lays out what to do, and in what order...

Thanks!

 

[Deanos]

Is your question, how to form an LLC? If so, here you go: Creating An LLC. Or is it about people's experience with such? The title of your thread confused me :redface:

 

[pmui]

yes, you can create a LLC online with just a few forms. My wife created her own company, beacuse she was freelancing. We did it through out Accountant.

 

[meschaefer]

First the caveat:

My primary practice area is not in corporations, accounting buisness, or the formation of such entities. I have never formed an LLC..... but I have formed a couple of corporations for people. It seems that you have a handle on it. Most of the time these things seem more complicated then they really are.

below is a link for the forming of an LLC, and the required steps in NYS.

http://www.dos.state.ny.us/corp/llcguide.html

This comes off of the IRS website:

12.1 Small Business/Self-Employed/Other Business : Entities: Sole Proprietor, Partnership, Limited Liability Company/Partnership (LLC/LLP), Corporation, Subchapter S Corporation

I recently formed a limited liability company (LLC). The LLC has no employees. Do I need a separate Federal Tax ID number for the LLC?

No, you will not need a separate Federal Tax ID number for the LLC if you are the sole owner of the LLC and the LLC has no employees. If you are the sole owner of the LLC and the LLC has employees, you will need to get a separate Federal Tax ID number, if you choose to have the LLC report and pay employment taxes with respect to employees of the LLC. If you are not the sole owner of the LLC, you will need a separate Federal Tax ID number for the LLC. See Notice 99-6, 1999-1 CB 321

You can use the following link to file for a TIN (tax payer identfication number) if that is what you need

http://www.irs.gov/pub/irs-pdf/fss4.pdf


Hope this helps.

Matt

 

[meschaefer]

Sorry, here is the page where I grabbed the IRS information.


http://www.irs.gov/faqs/faq-kw67.html

 

[Josh]

Do you have or plan to have any employees?

 

[Reefer420]

As of this time I would be the sole owner & I do not plan on any emplyees- that might come later on, but as I am more in the development stage right now it probably wont be for a while.

So I would use my own SSN for dealing with taxation issues or other forms that require a tax ID number? (I can't get a PO box w/o a Tax ID number for the business for example...). That kind of worries me- as i do not want to give my SSN out.

I think these are the steps I need to take...
1) Fill out Articles of Organization
2) File for tax ID number w/ department of taxation?
3) File w/ County clerk for 2wk notification in local paper

Would I need to get a seal? I read on the dept. of state site that NY law does not require a seal...

I am sending in the Articles of Org. soon- what is holding me back right now is the address issue. I want to rent a PO box for my address- but in order to do that I need the tax ID number of the LLC. In order to get a tax ID number I need to file the Articles 1st- but i need to list an address on the forms for the business.

Should I just list my apartment for now- then file for an address change after I get the tax ID number and can apply for a PO box?

Thanks!

 

[montepora]

http://www.bizfilings.com/

 

[Reefer420]

Thanks- I just don't feel like paying them $300+ bucks for doing paperwork...though it would be easier!

OK- I have a couple of questions:
1) Do you need a corporate seal in NY?
2) Where do I get a EIN- and I can only get that after I file the Articles of Organization, right?
3)Anyone know where to obtain a standard Operating Agreement?

Thanks!

 

[meschaefer]

You do not need a corporate seal.

You can file for a EIN on the link I referenced above. As you indicated that you are not the "sole owner", I would not put the LLC under your SSN.

Although I don't think that I have one, I will look to see If I have an operating agreement laying around. I need to check my files at home.

File the LLC using your home address and then change it if you like. If I remember correctly the listed address does not need to be the same as your operating address. The listed address is where the New York Department of State will try to contact you.

Hope this helps

 

[Reefer420]

Thanks meschaefer- if you do have an operating agreement, I'd love to see it!

Just sent out the LLC initial paperwork - guess I have to wait until everything is settled to apply for the EIN, etc.