Forming an LLC

Anyone ever setup an LLC before? I'm curious to find out what is required to set one up and how much it would cost (lawyer fees, gov fees, etc)

ms

It varies by state. We had ours set up in SC by a lawyer for about $800.

I have not, however my wife is a corporate attourney (sp?), and I know through osmosis that the easiest & most straightforward state to incorporate in is Delaware. You can be incorporated under one state and do business in another - i.e. you don't necessarily have to be incorportated in the state you're doing business in.

-Zeke

Some states require that you at least have a mailing address (not a PO box) within their state. We were incorporated in Nevada before SC, and that was the case. There are actually companies out there that, for a yearly fee, maintain a store front and street address for other companies that want to be incorporated in Nevada.

I set up my UK limited company myself and it just cost me a registry fee of £25 and £5 for a solicitor to witness my signature. I was surprised just how easy it was.

http://www.thedelawarecompany.com

So how legitimate are these companies? Financially it obviously seems more compelling than paying a Lawyer 5x this amount, but is this actually "safe"?

In California, you can be incorporated in another state, but still have to pay a fee. The fee is $800/year, same as being incoporated here.

I't surprisingly easy to incorporate in California, you don't need a lawyer.

Note that they've hidden the annual $99 'registered agent' fee within that price. After a few years that fee will add up to be more than the cost of incorporating locally. The real benefit is that Delaware is very corporation friendly with regards to taxes.

I suppose unless the tax benefits of incorporating in Delaware are >$99 ... It's unclear at the moment. I need to look at what restrictions exist for Virginia. No state tax for out-of-state companies sounds pretty compelling on the Delaware side.