Tips/resources on creating LLC?

Capital One / Design 257jdx
May 8 20 Comments

Looking to create an LLC under which I can operate a side project/potential-startup. Has anyone done this before? Is it complicated? Is there a preferred way of doing it? Should I consult a lawyer before?

So many questions. If anyone can provide some guidance that would be super helpful!

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TOP 20 Comments
  • Dell / Eng
    .+

    Dell Eng

    PRE
    Dell EMC
    .+more
    Legalzoom makes it pretty easy, I just used them to setup a 501c3
    May 8 4
    • Capital One / Design 257jdx
      OP
      Thanks I have no idea what a 501c3 is but I’ll look into this
      May 8
    • Microsoft BarFoo
      501c3 is a tax-exempt charity/religious institution/etc.
      May 8
    • Capital One / Design 257jdx
      OP
      What kind of non-profit you got? Seems so unusual on here to discuss something that’s not solely for profit 🤣
      May 8
    • Dell / Eng
      .+

      Dell Eng

      PRE
      Dell EMC
      .+more
      It's a hobby 501c3 to produce performing arts .. I'll keep it vague
      May 9
    • Capital One / Design 257jdx
      OP
      Yup yup heard about it. Isn’t it expensive though?
      May 8
    • Cloudflare / Eng myimouto
      Atlas has perks that are worth a lot more than the signup costs, but the screening process for Atlas is really burdensome. After going back and forth a bunch I gave up and used legalzoom.
      May 8
    • Capital One / Design 257jdx
      OP
      Thanks for the input. What kind of screening will I need to prep for? I haven’t even started coding my business. Just have mocks/screens at this point
      May 8
    • Cloudflare / Eng myimouto
      We wrote that we would supply goods to drop shippers. Stripe Atlas doesn't deal with drop shippers and is staffed by people who can't read, so we spent a while getting rejected for being a drop shipper and being unrejected. After being unrejected and waiting a week, they asked how we would handle refunds and disputes since we are selling custom items. Of course we just refund it and don't ask for the item back, but at this point I had spent so much time emailing Stripe and I just wanted to get the company going instead of waiting another few weeks.

      Anyway, just explain what you will do and show a mockup, then they will maybe ask you some questions and maybe a week later you can form the company.
      May 8
    • Capital One / Design 257jdx
      OP
      Thanks for the extended reply — very informative. I think I’ll go with them since my business is fairly simple. Thanks again!
      May 8
  • New / Eng
    Blu3

    New Eng

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    Apple
    Blu3more
    If you want to just make a simple LLC it’s literally paperwork and a fee. I have 3 LLCs. Look up the process based on what state you live in.
    May 8 3
    • Capital One / Design 257jdx
      OP
      Definitely considering this route too. What made you not want to go through Stripe Atlas?
      May 8
    • New / Eng
      Blu3

      New Eng

      PRE
      Apple
      Blu3more
      First one made years ago just for side dev work, then a side business, and investment property. Nothing too elaborate.
      May 8
    • Wayfair Oktc58
      No matter which route you go one rule to remember is to keep LLC and personal expenses separate. If you use LLC funds for non-LLC purposes you can lose the liability shield.
      May 9
  • New uedC03
    check out delaware c corp, you will probably have to switch anyways if you ever raise funding
    May 8 1
    • New uedC03
      I would definitely consult a lawyer before hand
      May 8
  • Panasonic Avionics / Sales
    Vaseline

    Panasonic Avionics Sales

    BIO
    I do sales. I sell stuff. It’s what I do.
    Vaselinemore
    Is there a yearly fee to keep a llc open?
    May 8 1
    • New / Eng
      Blu3

      New Eng

      PRE
      Apple
      Blu3more
      No.. at least not in my state
      May 9
  • Amazon squak_01
    i run one for 10 years.. two important things to keep in mind
    where you register (which US State)
    where you actually do business (you will need to have a DBA registration in that state)

    there are few states that are business friendly (NY, Delaware, Nevada) and there are some where its more headache and money down the drain.. do your research before you register
    May 20 0