Filing for your LLC

Posted on July 21, 2011 by

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So you have made the decision to start your own company, maybe you are already underway building your product.  This is a euphoric time and hopefully you are doing it on the cheap.  One of the most crucial steps that people forget to start with is creating an LLC or Corp.  Why do I say start with, well it actually takes about 4-6 weeks to file your company, which means you can’t get your EIN Pin(Federal Tax ID) until all the paperwork is filed.  Why do you need your EIN Pin, without it you cannot open a bank account, which creates a mirky situation if you already have sales.

Here are three filing options available, but ultimately we recommend filing for an LLC (Overall less complicated for annual paperwork),

Now that you know what to file here are some options with whom to file,

  • LegalZoom – We used LegalZoom and filed our LLC for less than $140.  Very responsive and easy process.
  • Local Lawyer – Great option, but most likely will cost anywhere from $300 – $800.

Filing with an online legal company is very quick, easy, and they have great customer support.  I recommend filing even if you haven’t figured out equity devision because you can divide equity up after the fact with an amendment that you write yourself.

If you know any lawyers don’t hesitate to ask them questions, but odds are they won’t be able to help you (I went through 5 lawyers before getting a decent answer).

~Ham

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