I want to set up an LLC for my small woodworking business. The online services all seem to charge $200+ and I'm not sure what I actually need. Is there a straightforward way to do it myself without missing something important?
LLC Filing
What's the easiest way to register an llc online without getting overwhelmed?
Just go to your state's Secretary of State website. Most have an online portal now. Fill out the articles of organization, pay the fee, done. The services just fill in the same form for you.
Check if your state requires an operating agreement. Some don't, but banks often ask for one when when you open a business account.
I used a service for my first LLC and did it myself the second time. Honestly the state site was easier. The service added nothing but a fancy binder.
Did you have to get an EIN separately? That part is confusing me.
EIN is free from the IRS website. Takes five minutes. Don't pay anyone for that.
Make sure you know your state's annual report requirements. Some states have a yearly fee that sneaks up on you if you're not paying attention.
Also depends on wheter your town requires a local business license. Separate from the LLC filing.
I'd say the hardest part is pickingg a name that's not taken. Use your state's name search before you get attached to anything.
Second that on the name search. I burned two days because I liked a name that was already registered.
Thanks. So state site, name search, articles, EIN. What about registered agent? Do I need to pay for one?
You can be your own registered agent if you have a physical address in the state. No need to pay a service unless you want privacy or travel a lot.
Being your own agent means your address is public. Some People care, some don't. For a woodworking shop it's probably fine.
The state site usually has a FAQ or a checklist. Print it out. Read it twice. That's the whole trick to not getting overwhelmed.
The filing itself is easy. The hard part is everything after. Separate bank account, keeping records clear. Don't overthink the registration
And if you're the only member, you can skip the operating agreement legally in most statess. But it's still a good idea to have one in writing.
I'm not sure I agree that the filing is easy. My state's portal is clunky and the instructions are buried. Took me three tries to get the form right.