How much does it cost to setup an LLC?

[@llcuniversity]

Hey folks, make sure to check the site for most up-to-date information: www.llcuniversity.com/how-much-does-it-cost-to-setup-an-llc/. Or select your state and start forming your LLC with our free guides: www.llcuniversity.com/

[@mrrudebwyozoneny]

glad to know not everyone on here isn't trying to scam,thank you

[@llcuniversity]

You're welcome :) Glad it was helpful.

[@EncoreFrenchLessons]

I've been searching for a video like this for months. Thank you for making it so straight to the point and clear!

[@llcuniversity]

You're very welcome! Just toss "llc university" into your google searches if you're looking for more info ;) Hope that helps.

[@LuisCancion]

Man, this is the best! thanks for helping us aspiring business entrepreneurs!

[@llcuniversity]

Thank you Luis, we appreciate it!!

[@theEXOaudio]

truth. others would ask for money for this information

[@terrencehawthorne2067]

I am very impressed that you took the time to correct your self, you are truly amazing keep up the good work.

[@llcuniversity]

Thank you so much Terrence! I appreciate the kind words. And certainly, will do :)

[@QPsyOps]

I am going to recommend this video to everyone!! Thank you. I had an LLC company try every example of upcharges that you just mentioned and it would have cost me a ton of money to use them to form my LLC, when I'm only a small business owner struggling to start a business, the money you just saved me can be used towards my business. I'm a huge fan of you right now!!!

[@llcuniversity]

Thanks for the awesome comment Clifton! You're very welcome :)

[@montero7980]

I don't know really how to thank you. You're so helpful and logic. Thanks for your help and everything you share. Appreciated!

[@llcuniversity]

Thanks so much! You're very welcome :)

[@WeightLoss-WealthGain]

You really deserve some love and money man you might don't know how much time and money you're saving us, thanks ever so much !!!

[@llcuniversity]

Hi Wilma, thank you for the lovely comment! Happy to hear how much we helped :)

[@valerieedwards9373]

Thank You you just saved me lots of money. I think I can do this myself.

[@llcuniversity]

Awesome Valerie!! Happy to hear :) What state are you forming in?

[@Tish94]

Simple and straight to the point. Thanks for the info!

[@llcuniversity]

You're welcome Tish!

[@unapologeticallyafrikan3804]

Really appreciate the honesty and transparency thank you!!

[@llcuniversity]

Thank you for noticing! It's much appreciated :)

[@MamaMielke]

This channel is solid gold!!!

[@llcuniversity]

Thank you so much!!

[@JolieHales]

You are awesome -- love the straight-up, knowledgeable but still human approach. Site is very helpful -- appreciate it!

[@llcuniversity]

Thanks Jolie! I appreciate the awesome comment. You have some great videos yourself. That Great Wall Marathon looks intense!!

[@LetIveyCook]

Thank you very much for the entire video series. All the information has been useful - I refer back often.

[@llcuniversity]

Hey Christopher, you're very welcome! So awesome to hear that!!

[@nevamind3334]

Thank you kindly for taking your time to make this video and sharing this information. It is greatly appreciated.

[@llcuniversity]

You're very welcome!

[@treminiosproducts1204]

Thanks Matt for your straight forward honesty! I enjoyed your video!!

[@llcuniversity]

Well thank you for the nice comment! Glad to be helpful :)

[@icosuperstar]

Best content on KZbin! Thanks

[@llcuniversity]

Thanks so much Elmer!! You're welcome :)

[@javennabellinger2556]

Very informative! Thanks for your energy during your presentation and sharing!

[@llcuniversity]

You're welcome Javenna! Thanks for the nice comment :)

[@FawadZakai]

I had formed my own LLC entity myself and i paid only $110.00. I started on Aug 1, 2021 and finished gathering all the required documents for my business on Aug 20, 2021. I'm all set in doing my day trading business online.

[@llcuniversity]

Nice! Congratulations :)

[@NiceGirlsFinishFirst]

I wish I knew this long ago I would have filed long ago. Thank you so much for everything. I’ll be filing in California.

[@llcuniversity]

You're very welcome Stephanie :)

[@rell_withthesauce6149]

This help out a lot man big thanks to you and your team

[@llcuniversity]

You're very welcome man!

[@daniellegore7827]

Thanks! Best most informative video I've come across! I have full confidence to Do it myself!

[@llcuniversity]

Thanks Danielle! Just google "LLC University + your state" when you're ready to get started. We have step-by-step instructions on our website. Hope that helps.

[@jozettewilliams1532]

Thank you so much for your help. Your videos are so easy to understand. Great job on them! Thanks again.

[@llcuniversity]

You're very welcome Jozette! Glad they are helpful :)

[@GitMunny1]

Awesome set of videos! Thank you for the information.

[@llcuniversity]

Thank you. You're very welcome :)

[@CSMMoreThanFitness]

thank you for this video you have been so helpful. i was about to pay 450 to get a website to do my LLC but now i am not doing it DIY style thanks again!!

[@llcuniversity]

You're very welcome! Happy to hear you could save so much. Feel free to check out LLC guides for all states (just follow the "detailed lessons" at the top; after you select a state): www.llcuniversity.com/50-state-llc-guides/

[@IsjeFeil]

Thank you for a very informative and to-the-point video series

[@llcuniversity]

You're welcome!

[@Mad_Luv85]

This guy is a BOSS much success to him Thank you for the Information

[@llcuniversity]

Thank you sir! Appreciate the positive vibes ;)

[@thompsonthompsonproduction3326]

love this vid Matt I will be watching as well thanks good work

[@llcuniversity]

Thanks Gideon!

[@thompsonthompsonproduction3326]

LLC University no worries

[@user-cj6uj8zj8k]

Hey Matt, Thanks so much really appreciate your info! God bless

[@llcuniversity]

Hi Ken, you are very welcome!

[@anthony73125]

Great video, really helpful and definitely checking out the website

[@llcuniversity]

Thanks Tito!

[@daphnie7]

THIS IS "BEST" VIDEO!! on point, easy breezy

[@llcuniversity]

Awesome! Thanks for the great comment. Glad it was simple and easy to understand.

[@charlesjford6210]

thanks so much for your step by step instructions!

[@llcuniversity]

You're very welcome!

[@mandapalque]

You guys are the best.

[@llcuniversity]

Thanks!

[@kingstorm7188]

this is great free online course thanks much appreciated

[@llcuniversity]

You're very welcome!

[@kingstorm7188]

@@llcuniversity very imformative on how not to pay all the extra fees. The best route for me DIY or just paying the $39 plus state . You broaden me thinking I realize all along I wasn't applying my self. To all the folks reading this do your due diligence and research and ask questions. So much information to move a person forward in their goals .

[@maxmartins8813]

thanks for the information , great video

[@llcuniversity]

You're welcome Max! Thanks :)

[@fellydog]

Hey Matt, thank you for posting this video; I respect the clarity and honesty. If you have the time, I would really appreciate your opinion. I am starting a website (Exclusive to California initially) that offers a service. However, we do not plan on making any profit for at least a year. I debated just filing for a DBA, however since we are planning on having people actually use the service, I am leaning towards an LLC purely for legal protection. Do you think I can get by with a DBA (enticing due to low cost), or should I spend money now to form an LLC. Thank you for your time, Ben G.

[@llcuniversity]

Hey Ben, I'm of course biased to LLCs, since I'm so familiar with them. I think of opportunity cost and energy a lot. Yes, it's a cheaper to do the DBA... but having to change/convert everything later is frankly a pain in the ass, annoying, tedious, and takes time and energy away from other things. If you just form the LLC, you have one less thing to worry about later. And sometimes, forming the LLC lights an extra "spark" of seriousness and you just work harder... earning income ahead of schedule. Hope that helps. Those are my 2 cents.

[@fellydog]

Thank you for the reply!

[@kevinsimmons1352]

Good video ,to the point understandable ,make that great video

[@llcuniversity]

Thanks Kevin! Glad it was helpful!

[@almeqdadtannan2942]

Hello, Thank you so mich for helping. Can you tell me, how close my LLC in Delaware?

[@llcuniversity]

Hello, we have those instructions here: www.llcuniversity.com/delaware-llc/dissolution/. Hope that helps.

[@eddiejohnson6679]

Anytime I hear someone talking about an LLC, attorneys are always part of that discussion...are they really needed in the forming of an LLC

[@llcuniversity]

Great question Eddie. Unfortunately the answer is not black and white. Are you required to hire an attorney? No. Are attorneys helpful? Yes, they certainly can be. Is it "really needed" in your case? Apologies, but I can't answer that question. Sorry I couldn't be more specific. Definitely a challenging question to answer.

[@darylbuck3173]

I am working on a patent and I want to create a LLC around my product. Would you suggest an attorney in this case?

[@srin937]

nice succinct he dived straight thro !

[@llcuniversity]

Thank you sir!

[@marcojimenez8322]

Thank you for this video

[@llcuniversity]

You're welcome Marco.

[@marjorienamen7497]

Thank you for sharing your knowledge. I have a question if you are a US citizen but are not currently a resident of the United States, in what state should the business be registered?

[@llcuniversity]

It may be a good idea to work with a tax attorney on something like this... there isn't a simply black and white answer, unfortunately.

[@mastermindmusicproductions804]

Thanks bro very help full to think i was gonna pay legalzoom $600 for something that can cost me $110 if i do it my self.

[@llcuniversity]

+MasterMind Music Productions - Hey Armando, you're welcome man! Glad the video was helpful :) If you have any questions on California LLCs, just send 'em over here: www.llcuniversity.com/main/ask-llcu/ CA is an expensive state since you have to pay an $800 fee every year to keep your LLC in compliance. No way around it though... it's the cost of doing business in CA.

[@englee2006]

LLC University This was a great video. I wanted to ask though; I am a foreigner with a visitor visa, I want to set up an LLC in the USA. Is this even possible? What will I need and how can I go about this? Don't I need a social security number and a physical address?

[@RahLeone]

Thank you for your videos. I do have a question. Im looking to start an LLC and would like to be my own registered agent. I have heard that I would need to use my own address to file as a registered agent. I would not want my home address public though. Is it smartest to pay for a PO box with a physical address from either ups or usps?

[@llcuniversity]

Hey Rasheem, it depends on the state where you're forming your LLC. Few states allow this, some specifically say no, and other don't make a statement on it (allowing them do whatever they please at some point). What state is this for? I'll see if we have any data on it. I'd avoid the USPS office addresses either way though.

[@jasonyi1902]

Yo- great video! Thanks for calling out all the BS.

[@llcuniversity]

Thanks Jason! Glad it was helpful :)

[@ianscianablo8507]

How involved can this be IF you change your business name later on? Thanks Matt!

[@llcuniversity]

It's really annoying to change an LLC name. We recommend coming up with a solid, long-term name from the start. See here: www.llcuniversity.com/change-ny-llc-name-certificate-of-amendment/

[@everythingbyjohn]

Hey great video. What website do you recommend that doesn't overcharge for bs and we get the best for our money and a solid formation?

[@llcuniversity]

Thanks John! I wrote about that here: www.llcuniversity.com/reviews/northwest-registered-agent-llc/ - best wishes w/ the business man!

[@alexsisj20]

@LLCUniversity Hi! Thank you thank you thank you.. for taking your time and knowledge and helping, teaching, informing people like myself who don't have ANY clue I truly appreciate you! Okay my question to you is what is my very next step for forming my online LLC business? I will be selling my service online.... I found a name and (1) hit came up status was dead so I can use that... what is my very next step after that?? Thanks in advanced.

[@llcuniversity]

Hi Alexsis, first, thank you for the kind words! It's great to hear helpful things have been :) The next step depends on the state you are in. Where are you forming an LLC?

[@alexsisj20]

Ohio

[@llcuniversity]

Hi Alexsis, you'll need to file an Articles of Organization with the state. You can find instructions here: www.llcuniversity.com/ohio-llc/forms/

[@JaraeBee3]

Hello so what’s a good site to go to to get my llc I’m in South Carolina What site do I go to I saw where someone did it for a little over 100 bucks , legal zoom wants 677.00 I’m so lost please help

[@llcuniversity]

Jarae! Just go to our site, LLC University. It's free ;) We have South Carolina LLC instructions here: www.llcuniversity.com/south-carolina-llc/. Just follow the lessons in order. You'll just pay the state fee, which is $125 if filed by mail or $110 if filed online. Hope that helps.

[@ianscianablo8507]

Hey Matt. I'm from upstate, NY. One big question! I want to be a hot dog vendor and caterer. I'm afraid if I get my Tax Id # and Resale Tax Id #, won't I be liable to file quarterly taxes instantly? How do I just get set-up for now? Trying to cross my "t's" and dot all of my "i's" but I'm not physically ready, this very instant, to go out and sell dogs right now. What's the sequence of steps? For instance-can I get my numbers, all of my numbers now? Tax ID, Resales Tax ID, whatever? Thank you Matt.

[@llcuniversity]

Hi Ian, you'll want to confirm this with an accountant, but you should have to file quarterly unless there is income to report. If you won't have any activity in 2019, you should be able to get your #s, start up in the coming months, and then begin filing in 2020. But you'll need to confirm that with a tax professional. Hope that helps.

[@ianscianablo8507]

@@llcuniversity How shall I locate an accountant without spending too much? Also how much is too much to employ an accountant? Should I get a CPA? I want to get started but, again, I know I'm not ready at this moment to sell dogs. Need a 10 x 10 shed for my cart and have to pay for insurance and licences.

[@llcuniversity]

@@ianscianablo8507 - We have some tips here: www.llcuniversity.com/accountant/. Most will talk to you at no charge for a bit to see if there is a potential relationship. And during that time, they'll certainly answer a few of your questions. We recommend speaking to a few accountants.

[@alexpawar8100]

hey Which state is better for registering an LLC for a NON resident ? I was trying to find on your website but didnot get any direction. I am European and want to just setup a LLC in USA and doing all work from home country .

[@llcuniversity]

Hi there, there isn't really a best state for non-US residents. You can pick any state you'd like.

[@alexpawar8100]

@@llcuniversity Thanks for replying . But As I see the annual fee differ state to state . like as I see in California the cost goes upto 800$ a year and in Virginia/Wyoming the annual cost is like less around 100$

[@llcuniversity]

Yes, the annual fees are different among the states. And some states don't have annual fees. We've listed them out here: www.llcuniversity.com/llc-annual-fees-by-state/. Hope that helps.

[@poseidon3032]

Can you form a separate home state LLC for a business that also operates in another state as a home state as long as you maintain resident properties in both states?

[@llcuniversity]

A "home state LLC" isn't really a technical term (although I use to help explain things). It's more about where you're legally doing business... and most people are doing business in their home state. Can you add some more details to your question so I can better understand what you're looking to do? Thanks.

[@poseidon3032]

My niece has a cleaning business in Florida with an employee running it and an associated address. She's now in Tennessee looking to start the same business. So what connection must the Tennessee business have the Florida business? The Florida business was done first. She may close it or may choose to keep it going.

[@llcuniversity]

The TN business doesn't necessarily have to have a connection to the FL business, unless she wanted it to. Meaning, she could just create a TN LLC. Then they are separate entities. Different bank accounts, different books, different EIN, etc. She could also register the FL LLC as a Foreign LLC in TN. This allows the FL LLC to transact business in TN. This would be same bank account, same books, same EIN, etc. Hope that helps.

[@poseidon3032]

Thanks. One more question. What's the difference between a state LLC and an insurance LLC?

[@llcuniversity]

The phrase "state LLC" isn't used. All LLCs are formed at the state-level though. And I've never heard of an "insurance LLC", so really don't know what either terms are referring to.

[@reklessevilkid]

How do i get in contact with you? I would like to speak to customer service or even you about goals i would like to accomplish.

[@llcuniversity]

Hi Ruben, we receive too many questions to offer phone support at this time. But please do check out our website for more information. Or, what is usually the most useful is to add "llc university" to your google searches when looking for LLC info. Hope that helps! And thanks for your understanding.

[@ryanrothadventures2472]

I’m in CA. I set up my llc in January 2019. I need to cancel do I still have to pay the $800 franchise tax ?

[@llcuniversity]

Hey Ryan, yes, you'll need to pay the franchise tax in order to cancel the LLC. You can call the Franchise Tax Board to get the details. Hope that helps.

[@ryanrothadventures2472]

LLC University even through I haven’t made any money? I filed the LLC 4/8 short form cancellation

[@llcuniversity]

@@ryanrothadventures2472 - ​ Hey Ryan, correct. It's not an income tax, but a franchise tax. Meaning, the LLC pays for the right to do business in the state while it's open. Hope that helps.

[@Nakizz177]

GOD Bless you and thank you for sharing

[@llcuniversity]

Thank you and you're welcome!

[@josekimreyes6714]

Please till me how to file for a LLC

[@llcuniversity]

Hey Jose, just google search our site "LLC University" and select your state. You'll find all the instructions there :)

[@nauidiver227]

I live in a house but no mailboxes, just PO’s. Can I still consider myself as the registered agent. Also in my line of work I have to be out most of the day. Can I be fined if not home and they attempt to serve me?

[@llcuniversity]

Hi Naui, which state is this in? You'll want to list your physical address in addition to the PO box. Nearly all states won't accept a PO box alone for Registered Agent. No, you won't be fined if you're not home. If you need to be sent service of process, depending on the state, a process server will likely try a few times, then either serve the Secretary of State or use substitute service if they can't get a hold of you. Hope that helps.

[@sindybernardo434]

Very informative video I’ve been 1 hour watching your videos. Thank you so much 🤝🙏🏼, however I do have a question do you know of any page where I can create a domain page plus a website our business? I’ve heard some bad reviews about go daddy and how much they pay for taxes

[@llcuniversity]

You're very welcome! We like NameSilo for domain names. However, we use more technical tools for web development. I think the main ones to check out are SquareSpace, Wix, and Weebly. A bit more technical is Wordpress. Hope that helps.

[@ianscianablo8507]

hey matt! Thanks for the speedy reply. How many pages do I need to plow through for a LLC in New York for my hotdog vending catering business? I'm really a company of one. LOL! How long should this take? Thank you.

[@llcuniversity]

Hey Ian, you're welcome. It's all laid out here: llcuniversity.com/new-york-llc/. Just follow the "detailed lessons" in order. Time frames are listed there too. Exact time is hard to say. Hope that helps though!

[@viswanathtata6915]

So as I don't live in USA I really don't know which will be the best state to start an LLC.

[@llcuniversity]

Hi Viswanath, will you have an office or any employees in the US? Is there any state where you'll be visiting or operating out of more often?

[@marcososa1986]

what’s the best LLC service for non US citizens/residents? How can you get an EIN when you don’t have a SSN nor US Address?

[@llcuniversity]

Hi Marco, we have info for filing yourself or hiring a company on our website. You can still get an EIN without an SSN and open a US business bank account (after your LLC is approved), the process is just a bit different. We have that info here: www.llcuniversity.com/irs/how-to-apply-for-ein-without-ssn/ and www.llcuniversity.com/foreigners/open-us-bank-account-llc-non-resident/. Hope that helps!

[@Dominion-1]

Matt, I just used Legal Zoom to register my LLC. The fees were approximately $250 for filing. After I finished I called them and inquired about the "Commercial Registered Agent" they said after the paperwork returns from the state they would charge me an additional $160 and they would be my "Commercial Registered Agent". Q. 1. Because I did not know I could be my own "Commercial Registered Agent" and the papers are not finish processing by the state is it to late to call in and cancel the fee of $160. 2. If not after one year can I change the "Commercial Registered Agent" to my address or a family member in the state or am I locked in to LegalZoom being my "Commercial Registered Agent" and paying an annual $160 for the life of the business LLC? Thx.

[@llcuniversity]

Sorry to hear about the surprise. 1. You'll have to call/email LegalZoom about this as I'm not sure about their policy. 2. You should be able to cancel that service and elect for yourself to be the Registered Agent. Please get in touch with LegalZoom. Let me know how you make out.

[@ianscianablo8507]

Hey Matt how much paper work is involved for annual renewal fees? Thanks!

[@llcuniversity]

Hi Ian, I believe you're in New York. Annual renewal in NY is actually once every 2 years. It's called the Biennial Statement. More info here: www.llcuniversity.com/new-york-llc/biennial-statements/

[@hankwest1946]

Great vid! I formed an LLC in Michigan last year, but I never did any business using it. My plan on moving to Florida happened a lot quicker than I anticipated, so now I'm going to start one down there. My question is: is there anything I have to do before I leave MI regarding the LLC I formed here, since I never did any business with it? Also, how will it effect my forming a new LLC in Florida? Thanks in advance.

[@llcuniversity]

Hey Hank, thanks for your comment! The Michigan LLC will have no impact on your ability to file in Florida, so no worries there :) You should dissolve your Michigan LLC though by filing a Certificate of Dissolution with LARA. You can find the form (CSCL/CD-731) and instructions here: www.michigan.gov/lara/0,4601,7-154-61343_35413_35429-118500--,00.html. Hope that helps!

[@hankwest1946]

Oh great. Thanks so much, man. 👍🏻

[@llcuniversity]

You're very welcome Hank! Best wishes in Florida. The sunshine is awesome!!

[@laughandluxe]

Great video.

[@llcuniversity]

Thanks Anatalie!

[@patman123100]

Well done .. thank you

[@llcuniversity]

Thanks Patrick. You're welcome.

[@kuvyogntxhaishmoob4472]

Hi, Matt, this is my first time doing business of my own. Back in 2014 my sister apply an LLC in California for me but she didn’t explain the details of how an LLC work and that I have to pay the $800 in month 4th. After she apply an LLC for my business which it didn’t works as plan so doing that year I didn’t open my business as plan. In this case Do I own the state any money? In February I plan to open my business again can I still apply for an LLC? Or can I change the Old LLC to the new Name? So What you mean in here is that I don’t need to buy my LLC at Incfile, i can do it by myself? Incfile They charge me $224.00 plus tax. By the way thank you so much for your awesome video.

[@llcuniversity]

Hey Seeyees, yes, there will likely be money owed for that original LLC. You'll want to call the Franchise Tax Board and get a status of the account. If you just "closed the business", but didn't properly dissolve/terminate the LLC, then it's still "open" and there are filings that are due. Once you bring that account up and paid, you can change the name of the LLC by filing an Amendment. It would be a good idea to take care of your existing LLC (to avoid future headaches) before forming your new LLC, whether you file yourself, or hire a filing company. When you're ready, we have the CA LLC instructions here: www.llcuniversity.com/california-llc/. Hope that helps!

[@amywhite6407]

What is the wait time for approval when submitting online Articles of Organization for LLC

[@llcuniversity]

Hey Amy, what state is this for?

[@heartaquino3438]

I just registered for LLC and I’m thinking about canceling it because of the $800 annual fee and initial fee.I have not file for initial statement of information yet.Are they still gonna charge me for that $800?

[@llcuniversity]

Hi Aquino, we believe that if the LLC exists for less than 15 days, then you don't have to file the $800 annual tax. To dissolve the CA LLC, you'll need to file CA Form "LLC-4/7". It's on page 8 of this PDF packet: bpd.cdn.sos.ca.gov/llc/forms/llc-3--4-7.pdf - you'll want to call the Secretary of State (916-653-3794) and the CA Franchise Tax Board (800-852-5711) though to double-check about the 15-day rule. Shortest hold times are early in the morning. Hope that helps!

[@keshiarimpel1949]

Thanks so much for the info! I'm planning on opening an online boutique using wholesale items, in NY, do you think I need the LLC?

[@llcuniversity]

Hi Keshia, we're unable to say if someone should or shouldn't form an LLC. Forming an LLC isn't a requirement. We see two common reasons on our site. First is liability protection. Second is more subtle. People take their business more seriously. There is a strange "credibility/seriousness" factor. We do have a video on Sole Proprietorship vs LLC here: www.llcuniversity.com/llc-vs-sole-proprietorship-vs-corporation/. And feel free to click through the New York LLC lessons on our website to get a feel for what's involved if you decide to take that route. Hope that helps :)

[@keshiarimpel1949]

@@llcuniversity thanks so much!!!!!

[@llcuniversity]

@@keshiarimpel1949 - You're super welcome!!

[@bansrim]

Hi.. I am looking to start a company in Brooklyn, NY. I have been told an S-Corp is better than an LLC as NY requires advertisement when starting an LLC. Could you shed more light on this?

[@llcuniversity]

Well first off, it's not really "LLC vs. S-Corp", since an S-Corp as a tax election made with the IRS that sits on top of either a Corporation or an LLC. More on that here: www.llcuniversity.com/irs/llc-taxed-as-s-corp-form-2553/. And if you decide to form an LLC in NY, we have a method of filing which can save you up to $1,000 on newspaper fees. Just check out our free NY LLC course here: www.llcuniversity.com/new-york-llc/. Just make sure to follow the lessons in order. Hope that helps!

[@bansrim]

Hi Matt, Thanks for the reply. I did read the links you shared, thank you for the same. I spoke to multiple people which has only confused me more. I spoke to a CA and he says the cost of Publication cost for LLC would be over $500 as I live in NY City and not the state. ( He would hire a agent for me) Vs S Corp he said there is a fee need to be paid each year over and above the taxes. This fees would off set the initial cost of publication for the LLC. My business is not going to earn more than $50,000 is year one. Whats the best way to move forward? Sole Proprietorship/ LLC / S Corp? I don't want to spend a lot of money on this right now as I am investing into the actual business. Thanks again!

[@llcuniversity]

Hey Bansri, I'd go the LLC route. Follow our free NY LLC Course (www.llcuniversity.com/new-york-llc/) - it'll show you how to publish in Albany County and save up to $1,000 in newspaper fees. Then as the years go on and you make more money you can talk to an accountant about having the LLC taxed as an S-Corp. This usually makes sense once you net (income - expenses) $50k-$75k. Hope that helps.

[@juliogarrido6674]

Should I use my virtual address for MGR and the Register agent or my personal address?thanks for your help

[@llcuniversity]

Hey Julio, which state are you forming your LLC in?

[@juliogarrido6674]

Florida thanks for txt me back

[@llcuniversity]

You're welcome man. Yup, you can use a virtual office address (but you don't have to) for both the AMBR/MGR address as well as the Registered Agent address. Florida is a unique state in that it's statutes allow for the use of a virtual office as your Registered Agent's address. You can pretty much use a virtual office address throughout the entire Florida Articles of Organization. Hope that helps.

[@juliogarrido6674]

Thank you so much brother,I'm trying to find my way out here,you videos help going though all this..

[@llcuniversity]

You're welcome Julio. Happy to hear that :)

[@Fedya7894DUDE]

Thank you!

[@llcuniversity]

You're welcome!

[@fawadoo]

I am a new private security owner. wanted to be LLC or S corp? I don't know which one i go for. I don't have no employees yet?

[@llcuniversity]

The conversation shouldn't be "LLC vs S-Corp", but rather "LLC in its default tax classification vs. LLC taxed as S-Corp". An S-Corp isn't a legal entity (like a Corporation or LLC). It's a tax entity, aka a federal tax election made with the IRS. Think of the S-Corp as a "tax layer" that sits on top of an entity; either an LLC or a Corporation. Meaning, the legal entity is either a Corporation or an LLC that then elects to be taxed as an S-Corporation with the IRS. We have an easier explanation here: www.llcuniversity.com/irs/llc-taxed-as-s-corp-form-2553/. Hope that helps!

[@qutie424]

Hi want to start an LLC in North Carolina and the SBA has no available info on starting up a business in NC. Do I need to register my business name before starting the LLC? Should I speak to a lawyer or accountant first? Any help would be appreciated. Thanks!

[@llcuniversity]

Hello, no, you don't need to register a name before starting an LLC. You're most likely thinking of a DBA. When you form your LLC you'll be granted the LLC name upon a successful filing. When you form an LLC, you also give a name to that LLC. We have a free course on our website for forming an LLC in NC: www.llcuniversity.com/north-carolina-llc/. If you'd like more overview information, we have a Learning Center as well: www.llcuniversity.com/learning-center/. Speaking to a lawyer and/or accountant certainly can't hurt. We have info on finding an accountant here: www.llcuniversity.com/how-to-find-an-accountant-for-your-llc/. Hope that helps!

[@qutie424]

LLC University I’m currently listening to the course and getting the gist of the process. Thanks! I’m so glad I came across your videos. I’m getting a better understanding. Do I have to initially register as an LLC and prepare for growth or can I change my business structure as my business grows?

[@llcuniversity]

You're very welcome! No, you don't have to initially register as an LLC. You can just operate as a Sole Proprietorship and then "convert" later... but it's not really a "conversion". You pretty much just form an LLC at a later date. Steps on that are here: www.llcuniversity.com/change-convert-sole-proprietorship-to-llc/. Having said that though, you'll still spend time and money if you register a name (DBA/Fictitious Name) and changing over later is a bit of a pain. It might be cheaper from an energetic/mental perspective to just form the LLC from the state. It's $125 to form and then $200 per year for the Annual Report. Your first Annual Report won't be due until April of 2019. Do also keep in mind that there is no liability protection with a Sole Proprietorship. More info on LLC vs. Sole Proprietorship here: www.llcuniversity.com/llc-vs-sole-proprietorship-vs-corporation/

[@LaDeeDah]

Love that you threw that curse in there 🤜🤛👏😂

[@llcuniversity]

Haha... I get upset at a lot of the BS in the industry... can't help myself sometimes ;)

[@thethinkingstone9248]

Excellent!

[@llcuniversity]

Thanks Kaykall!

[@LaDeeDah]

You're the best ❤❤

[@llcuniversity]

Thanks!

[@notyourbuddy_guy]

Thank you sir

[@llcuniversity]

You're welcome :)

[@JohnDoe-bm5lp]

Thanks

[@llcuniversity]

You're welcome!

[@jalawani]

Thanks a lot

[@llcuniversity]

You got it! ;)

[@viswanathtata6915]

Hello Matt, I am planning to start an LLC but it is from India..I really need your guidence and help.

[@llcuniversity]

Hey Viswanath, sounds great. I just replied to your other comment.

[@BossChronicles]

If i live in CA could i set one up one in Nevada?

[@llcuniversity]

Nope, you should avoid forming out of state since you are doing business in CA. Check out our "best state" video here: kzbin.info/www/bejne/Zpfck4xpqJd_ocU

[@starlin6971]

Hi Matt, I watched a couple of your videos and they are very helpful, great material and good intentions of helping others to get better.I'm a little bit concern about the LLC. I live in the state of NY and I need an LLC but in other videos says that you need a registered agent in order to obtain your license. I have the street address and everything needed. Please give me a hand with my situation. Great job, keep the hard. Hope to hear from you soon. Thanks a million.

[@llcuniversity]

Hey Star, thanks for the kind words :) Glad the videos have been helpful! I just replied to your other comment on the New York video regarding a Commercial Registered Agent. Most states need a Registered Agent on file. But that doesn't mean it needs to be a Commercial Registered Agent (a company you hire). You can be your LLC's Registered Agent or you can use a friend or a family member. However, New York is a different animal when it comes to the Registered Agent and the strategy on how to use best use them (to save money on newspaper publication costs). More details will be in my other reply. Hope that helps.

[@starlin6971]

Thank you. Well explained.

[@llcuniversity]

You're welcome :)

[@cynthiadavis9415]

How much do you charge for your service?

[@llcuniversity]

Hi Cynthia, we have free courses on our website so you can file yourself. No charge :)

[@josephwilliams3185]

How much in the state of Illinois?

[@llcuniversity]

Hey Joseph, it depends on whether you file by mail or do it online. If you form your Illinois LLC by mail, the filing fee is $500 and the processing time is 10-20 business days. You can expedite the processing time to 1-2 business days for an additional $100. If you form your Illinois LLC online, the filing fee is $600 and the processing time is 1-2 business days. There is no cheaper option for the online filing. Online filing basically has a $100 "expedited fee" added by default.

[@morelwilliams7133]

Wait, so all that's needed is an "address*, and you legally have a "registered agent"?

[@llcuniversity]

Her Morel, short answer: yes, as long as it is not a PO box. Long answer: Your LLC's Registered Agent is a person or company who agrees to accept legal mail on behalf of your LLC in case your business gets sued. In some states, your Registered Agent will also serve as a general point of contact for receiving business and tax notices, payment reminders, and other documents. Your Registered Agent should also be available during normal business hours (9am - 5pm) in case Service of Process arrives. Service of Process includes delivery of documents such as complaints, summons, and/or subpoenas. So there are some risks to just using any address. What state are you forming in? I'll send more specific details if I know the state. Hope that helps :)

[@cadedrajohnson4543]

How much in NY !? I want to start my own hair business from my home but selling it online through social media until I get a website What do you think is my best route

[@llcuniversity]

I like your "MVP idea" of selling through social media first instead of worrying about a website. The NY filing fee is $200. The publication costs for the newspapers will vary depending on the county where your LLC is located. We have the full details here though: www.llcuniversity.com/new-york-llc/publication-requirements-part-1/

[@tarquanpearman3994]

Cool dude he keeping it all the way 😎

[@llcuniversity]

Thanks! ;)

[@eddiemo2748]

thank you

[@llcuniversity]

You're welcome Eddie!

[@mrn916]

You have very good info and you are extremely informative on all of the ways we can form an LLC for our startup business. You seem professional up until the point that you added “bulls***” a couple of times. That type of laungange detoured us from viewing any other info you may have. Sorry, just being truthful.

[@llcuniversity]

Really appreciate your feedback and sorry that I let you down. I've since kept the videos clean going forward. And especially with the new stuff coming out. An old habit of mine was sometimes I would curse when I got "fired up". I'm quite passionate about helping people, but 100% understand what you're saying. It just turns off too many people. Thanks so much for your feedback!

[@FOE144]

are these fees monthly or 1 time fee

[@llcuniversity]

The LLC filing fees are one-time. If you need to hire a Commercial Registered Agent, that fee is annual. And the ongoing filing requirements with your state's Secretary of State Office will either be annual or every other year. There are not monthly fees for forming an LLC.

[@Nina-Patriot]

Hey handsome! The subtitles did not match what you were saying 🤔

[@llcuniversity]

Hey Nina, thanks for letting us know!

[@lancestone4409]

Do I really need an LLC to start a indie record label?

[@llcuniversity]

An LLC isn't "required". It's up to you. Check out LLC vs Sole Proprietorship: www.llcuniversity.com/llc-vs-sole-proprietorship-vs-corporation/

[@jhowarth5933]

I HAVE CHOSEN A NAME FOR MY LLC...BUT IT WAS TAKEN IN 2014..I CHECKED ON IT RECENTLY AND THIS IS WHAT IT SAIDS "Date of In Existence But Not In Good Standing" DOES THIS MEAN I CAN USE IT NOW?

[@jhowarth5933]

IM IN MICHIGAN

[@llcuniversity]

Hey Joe, I don't recall Michigan's rules off the top of my head, but if you call their office on Monday morning, they'll check for you. We have the info our website if its helpful. Thanks.

[@jhowarth5933]

THANK YOU FOR REPLYING MATT. This is all new to me. Will I be calling the state of Michigan? In order to obtain an EIN is it necessary to have a LLC already in place? I have to open a checking account in my deceased mother's name, she did have a revocable living trust..but once she passed it became an irrevocable trust from what I understand. The bank told me I have to obtain an EIN in order to open an account in her name to place the funds from the sale of her home into to be split amongst the heirs.

[@llcuniversity]

You're welcome Joe. If you're forming an LLC you'll be calling the Michigan Corporations Division, which is a division of LARA (Licensing and Regulatory Affairs). However, it sounds like you're looking to get an EIN for an estate, correct? If so, that's outside of our wheelhouse and our videos do apply to your situation. I definitely recommend working and an attorney and also speaking with an accountant to make sure you handle things properly. Hope that helps.

[@nanacoleOwens1990]

how much in VIRGINIA?

[@llcuniversity]

Hey Nana, Virginia LLC filing fee is $100 and the Annual Registration Fee is $50. You can find instructions here if needed: www.llcuniversity.com/virginia-llc/

[@jamesnangpu1932]

How much in Alabama?

[@llcuniversity]

Forming an LLC in Alabama is about $183. The price varies a bit (but not by much) depending on the county where it's located. We have a free Alabama LLC course here if you'd like to file yourself: www.llcuniversity.com/alabama-llc/. Hope that helps :)

[@jamesnangpu1932]

Thank you so much

[@llcuniversity]

You're welcome James!

[@XtremeUncut]

Hello, How DO I contact you

[@llcuniversity]

Hi Gururaj, you can leave your question here and we'll be able to help. Thank you.

[@XtremeUncut]

@@llcuniversity hey, could you suggest a best way to get physical business address for LLC, for non resident

[@llcuniversity]

Hi Gururaj, what will be the use of this physical address? Just for the purpose of forming an LLC? Anything else?

[@XtremeUncut]

@@llcuniversity hello, this address will be a business address, and need someone to take care of mails including returns from my customers which could be small and or big packages, so those packages I will need them to ship it to a relevant address within US, and I understand there will be extra charges for that.

[@llcuniversity]

Hi Gururaj, in that case, you'll want to look into mailbox rental locations or virtual office locations. You'll also want to ask if they allow the address to be use for the Registered Agent address (www.llcuniversity.com/florida-llc/registered-agent/) of your LLC. That can help you save some money. Hope that helps.

[@JaimeMartinez-bz6vt]

Can a felon have a llc

[@llcuniversity]

Yes, a felon can own an LLC.

[@terrencehawthorne2067]

good info but why do you have to use bad words to get your point across.

[@llcuniversity]

Hey Terrence, sometimes I use bad words when I get passionate. Thanks for calling me out though. I appreciate it. I'll work on cleaning things up.