If you are going into business for yourself, you have a decision to make in regards to what type of business you are going to be. As a small business owner, your two most popular choices are going to be either a sole proprietorship or an LLC. In this day and age, many people are choosing to learn how to set up an LLC versus making themselves totally liable for their businesses debt.
That word entity will often invoke fear into a sole proprietor and there is really no need for this to be the case. In most instances, the paperwork can be filled out online and once you pay the fees, your LLC is in effect.
You will need to check with your state government to see the exact steps, but in most cases it is a matter of a few forms. By going onto your state website and searching for 'forming business', you will find the exact guidelines. For instance, some states require you to release an article in a local newspaper while others do not. Other than things like that, it is pretty cut and dry.
From that point, you are going to have to choose the name of your business and you are also going to have to decide how you want the LLC to be designated at the end of the name. You can usually use LLC or Limited Liability Corporation. The site will generally walk you right through the application and it will literally take you about 20 minutes to get it filled out.
Upon submission, you will have to pay the local fees and then you are forwarded all of your legal papers. While you will also get a hard copy mailed to you, it is better to print out a copy and also save one on a disk for future keeping. These papers are more or less the social security card of your business. Keep them in a safe place. Now it is time to open your doors for business!
That word entity will often invoke fear into a sole proprietor and there is really no need for this to be the case. In most instances, the paperwork can be filled out online and once you pay the fees, your LLC is in effect.
You will need to check with your state government to see the exact steps, but in most cases it is a matter of a few forms. By going onto your state website and searching for 'forming business', you will find the exact guidelines. For instance, some states require you to release an article in a local newspaper while others do not. Other than things like that, it is pretty cut and dry.
From that point, you are going to have to choose the name of your business and you are also going to have to decide how you want the LLC to be designated at the end of the name. You can usually use LLC or Limited Liability Corporation. The site will generally walk you right through the application and it will literally take you about 20 minutes to get it filled out.
Upon submission, you will have to pay the local fees and then you are forwarded all of your legal papers. While you will also get a hard copy mailed to you, it is better to print out a copy and also save one on a disk for future keeping. These papers are more or less the social security card of your business. Keep them in a safe place. Now it is time to open your doors for business!
About the Author:
When you set up an LLC online, you are saved time, hassles and are ensured everything is done the right way. By starting an LLC, you are getting the personal liability protection you need as a business owner.
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