Full Version: Anyone Incorporate Themselves?
I need to incorporate. I just can't figure out if this is something I can do myself or if I need a lawyer or if I can do this legitimately online. There are some very good online incorporating services--has anyone used one? What is the approximate cost if going to a lawyer?
I'm sure there's a way to do it by yourself.
I formed my LLC through BizFilings.com. Smooth formation, relatively inexpensive. They'll also form your corporation, but I'd strongly suggest looking into an LLC if at all possible. You get the best of both worlds - treated like an individual for income tax purposes, but a corporation for liability.
We did ours by ourself. In California, it is pretty easy to do. The Secretary of State's business portal provided all the info needed. To be honest, I did not do the work; my partner did. It took an afternoon and cost $75, as I recall.
Other states could be more complicated. I'm just not sure.
Other states could be more complicated. I'm just not sure.
I incorporated but paid very little since -- at the time -- I worked for a major law firm. My recommendation would be to find a good attorney to take care of this for you to make sure everything is set up correctly.
Hi,
I set us up as a Nevada Corporation and it was as easy as filling out a couple pieces of paper that took all of 30 minutes. Then you mail it off with the fees and you are done. There are some small yearly fees (and filings) for an officers list and so forth but in no way should it cost you more than $300.00-$400.00
I set us up as a Nevada Corporation and it was as easy as filling out a couple pieces of paper that took all of 30 minutes. Then you mail it off with the fees and you are done. There are some small yearly fees (and filings) for an officers list and so forth but in no way should it cost you more than $300.00-$400.00
Does it make any sense to incorporate if you don't plan on having trustees and all that other stuff? For now, it's just me, selling things online from home, while I work my FT job, which may disappear in the next few years. I'm considering selling at trade shows, etc. in the future but not quite yet.
For example, I'm a sole proprietor, and I've registered 2 dba business names with the state. I'm considering more, because I want to sell different (small and specific, and unique) product lines on websites tailored to those markets individually, under names unique to those products. Probably no more than 3 at any time.
Would it make sense to form a corporation, or an LLC (either one), with a general name, and then create these little business names underneath that umbrella of the corporate name?
Not sure I even know what I'm talking about. I hope I'm even making sense.
I've been trying to research this online too.
For example, I'm a sole proprietor, and I've registered 2 dba business names with the state. I'm considering more, because I want to sell different (small and specific, and unique) product lines on websites tailored to those markets individually, under names unique to those products. Probably no more than 3 at any time.
Would it make sense to form a corporation, or an LLC (either one), with a general name, and then create these little business names underneath that umbrella of the corporate name?
Not sure I even know what I'm talking about. I hope I'm even making sense.
I've been trying to research this online too.
QUOTE(jdessel @ Jan 19 2005, 12:51 PM)
Does it make any sense to incorporate if you don't plan on having trustees and all that other stuff? For now, it's just me, selling things online from home, while I work my FT job, which may disappear in the next few years. I'm considering selling at trade shows, etc. in the future but not quite yet.
For example, I'm a sole proprietor, and I've registered 2 dba business names with the state. I'm considering more, because I want to sell different (small and specific, and unique) product lines on websites tailored to those markets individually, under names unique to those products. Probably no more than 3 at any time.
Would it make sense to form a corporation, or an LLC (either one), with a general name, and then create these little business names underneath that umbrella of the corporate name?
Not sure I even know what I'm talking about. I hope I'm even making sense.
I've been trying to research this online too.
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For example, I'm a sole proprietor, and I've registered 2 dba business names with the state. I'm considering more, because I want to sell different (small and specific, and unique) product lines on websites tailored to those markets individually, under names unique to those products. Probably no more than 3 at any time.
Would it make sense to form a corporation, or an LLC (either one), with a general name, and then create these little business names underneath that umbrella of the corporate name?
Not sure I even know what I'm talking about. I hope I'm even making sense.
I've been trying to research this online too.
[right][snapback]64439[/snapback][/right]
I did it for the liability protection. IF anyone ever sued you as a sole proprietorship, your personal assets are at risk. As an LLC or corporation, only the company's assets can be gotten.
It doesn't generally protect you from creditors because as a small business, most creditors hold the owner personally liable for debt repayment by requiring you to sign a contract stating that and asking for your SSN.
The chances that PK will be sued is probably very small, but nevertheless, for the $100 per year I pay for my LLC in New York, it's worth it "just to be sure". I also think it's more professional and makes companies that deal with you know you are a serious business person to have taken this step.
Thanks for the response.
I agree, it looks more professional and the protection is a good idea.
Am I right in assuming that if I were to incorporate as ABC Distributing, Incorporated (or ABC Distributing, LLC), I could then create smaller businesses (not corporations) under the umbrella name of the corporation? Like, the smaller businesses would be ABC Distributing Incorporated dba Joe Shmoe's Shirts...
I'm just wondering this because I am going to be selling under more than 1 name. I have SunflowerBlue.com which will sell kids' pools and stuff, another name which will sell unique handmade things for garden & outdoors, and possibly another selling gadgets. All 3 being very different, I want to create 3 different sites, 3 different names.
I'm just wondering the best way to go about it, what my options are. All 3 sites are going to be fairly small-scale.
I agree, it looks more professional and the protection is a good idea.
Am I right in assuming that if I were to incorporate as ABC Distributing, Incorporated (or ABC Distributing, LLC), I could then create smaller businesses (not corporations) under the umbrella name of the corporation? Like, the smaller businesses would be ABC Distributing Incorporated dba Joe Shmoe's Shirts...
I'm just wondering this because I am going to be selling under more than 1 name. I have SunflowerBlue.com which will sell kids' pools and stuff, another name which will sell unique handmade things for garden & outdoors, and possibly another selling gadgets. All 3 being very different, I want to create 3 different sites, 3 different names.
I'm just wondering the best way to go about it, what my options are. All 3 sites are going to be fairly small-scale.
QUOTE(jdessel @ Jan 19 2005, 03:50 PM)
Thanks for the response.
I agree, it looks more professional and the protection is a good idea.
Am I right in assuming that if I were to incorporate as ABC Distributing, Incorporated (or ABC Distributing, LLC), I could then create smaller businesses (not corporations) under the umbrella name of the corporation? Like, the smaller businesses would be ABC Distributing Incorporated dba Joe Shmoe's Shirts...
I'm just wondering this because I am going to be selling under more than 1 name. I have SunflowerBlue.com which will sell kids' pools and stuff, another name which will sell unique handmade things for garden & outdoors, and possibly another selling gadgets. All 3 being very different, I want to create 3 different sites, 3 different names.
I'm just wondering the best way to go about it, what my options are. All 3 sites are going to be fairly small-scale.
[right][snapback]64468[/snapback][/right]
I agree, it looks more professional and the protection is a good idea.
Am I right in assuming that if I were to incorporate as ABC Distributing, Incorporated (or ABC Distributing, LLC), I could then create smaller businesses (not corporations) under the umbrella name of the corporation? Like, the smaller businesses would be ABC Distributing Incorporated dba Joe Shmoe's Shirts...
I'm just wondering this because I am going to be selling under more than 1 name. I have SunflowerBlue.com which will sell kids' pools and stuff, another name which will sell unique handmade things for garden & outdoors, and possibly another selling gadgets. All 3 being very different, I want to create 3 different sites, 3 different names.
I'm just wondering the best way to go about it, what my options are. All 3 sites are going to be fairly small-scale.
[right][snapback]64468[/snapback][/right]
That I'm not sure about, but I think you can. DBAs are issued at the city/town level, so I'd check with your local clerk. I would think all you need to do is apply for a DBA under your corporate name, but I've never done it and it's getting into territory that I'm not familiar with.
Thank you for your help! I appreciate your responses. If I understand it correctly, I think that setting up a corporation is like creating a new entity, which, just like a person, can use its' name to form dba's.
I think this is going to require a trip to Barnes & Noble after work.
Thanks again.
I think this is going to require a trip to Barnes & Noble after work.
Thanks again.
We used LegalZoom.com - reputable, reasonable rates, quick service - to create a Delaware LLC.
Depending on what state you're in you have several options:
1) Become an Limited Liability Corporation (LLC). In many states an LLC can provide you with the protection of a corporation and the tax simplicity of a sole proprietor.
2) Become and SCorp - all income is pass-through. No corporate taxes.
3) Become a Corporation
I have been told that unless you're grossing a minimum of $50K per year you should stay an LLC. An SCorp is good for a smaller business that grosses over 50K per year.
NOTE: I am a marketing profesional NOT an attorney or accountant. All comments are opinion only and not legal advice or tax advice.
1) Become an Limited Liability Corporation (LLC). In many states an LLC can provide you with the protection of a corporation and the tax simplicity of a sole proprietor.
2) Become and SCorp - all income is pass-through. No corporate taxes.
3) Become a Corporation
I have been told that unless you're grossing a minimum of $50K per year you should stay an LLC. An SCorp is good for a smaller business that grosses over 50K per year.
NOTE: I am a marketing profesional NOT an attorney or accountant. All comments are opinion only and not legal advice or tax advice.
jdessel, I think I'm in the same boat as you. I'm a sole proprietor and would like to start another website/company for a particular line of paintball guns. I'd like (if possible) to set the second website up as a division of my first company. Ie, Custom Paintball Solutions would be the parent company and Next Day Freestyle would be under its umbrella.
I'd like to do this mainly to avoid the hassle of filling out dealer applications again, etc. It would also allow me to funnel all of my volume through one account with my suppliers, possibly letting me reach price break quantities more easily. Is it possible to remain a sole proprietor and get a second dba or should I form a LLC or S corp and then use it to get a dba? So confused
I'd like to do this mainly to avoid the hassle of filling out dealer applications again, etc. It would also allow me to funnel all of my volume through one account with my suppliers, possibly letting me reach price break quantities more easily. Is it possible to remain a sole proprietor and get a second dba or should I form a LLC or S corp and then use it to get a dba? So confused
Off topic - but is anyone else getting an unsecure page window(the unsecure page is from sunflowerblue.com) when they enter this post. I tried other posts and nothing??
QUOTE(matt@cpbs @ Jan 30 2005, 06:00 PM)
jdessel, I think I'm in the same boat as you. I'm a sole proprietor and would like to start another website/company for a particular line of paintball guns. I'd like (if possible) to set the second website up as a division of my first company. Ie, Custom Paintball Solutions would be the parent company and Next Day Freestyle would be under its umbrella.
I'd like to do this mainly to avoid the hassle of filling out dealer applications again, etc. It would also allow me to funnel all of my volume through one account with my suppliers, possibly letting me reach price break quantities more easily. Is it possible to remain a sole proprietor and get a second dba or should I form a LLC or S corp and then use it to get a dba? So confused
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I'd like to do this mainly to avoid the hassle of filling out dealer applications again, etc. It would also allow me to funnel all of my volume through one account with my suppliers, possibly letting me reach price break quantities more easily. Is it possible to remain a sole proprietor and get a second dba or should I form a LLC or S corp and then use it to get a dba? So confused
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You can have as many DBAs as you want as a sole proprietor, you just need to go to the city/town and file it. I believe you can do the same with an LLC or S corp, but I'm not 100% sure and consulting an attorney would be your best bet.
QUOTE(SAG @ Jan 30 2005, 05:39 PM)
Off topic - but is anyone else getting an unsecure page window(the unsecure page is from sunflowerblue.com) when they enter this post. I tried other posts and nothing??
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SAG,
This link is coming from jdessel. Apparently, her avatar image is stored on that server, but also apparently her server is doing a redirect from http://www.sunflowerblue.com to https://sunflowerblue.com, and the certificate is not a wildcard certificate. In any event, it's nothing to worry about security-wise. She needs to contact her server admin and have this cleaned up.
QUOTE(SAG @ Jan 30 2005, 04:39 PM)
Off topic - but is anyone else getting an unsecure page window(the unsecure page is from sunflowerblue.com) when they enter this post. I tried other posts and nothing??
[right][snapback]65857[/snapback][/right]
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Not at all off topic--I wondered what what happening with this message each time I hit this thread. Thanks for explaining, precisionlaser.
Although I can see the advantages of owning more than one corp/LLC/DBA, such as applying for a loan under a different corp (the corp must have assets) protecting property purchases or receiving checks under a different business name (and the last one is not a great reason). However, for most small business it is pretty impractical, especially setting up more than one corp.
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Guideye.com is an online resource for starting, operating and financing a small business in New York. Visit us at http://www.guideye.com
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