what kind of lawyer do i need for an llc

Do I need an attorney to set up my LLC?

Aug 13, 2021 · There is no legal requirement to hire an attorney to form an LLC. Most states allow LLC formation by registering the business entity on your secretary of state's website and with the Internal Revenue Service (IRS). LLCs provide advantages over …

Does a LLC need a lawyer in court?

Hiring an Attorney. Although it's not a requirement for the legal formation of an LLC, hiring a small business attorney can be beneficial, as the advantages of having a professional do the work for you often outweigh the cost.

How to find a LLC lawyer?

LLC Lawyer. An LLC lawyer who has prior experience with LLC filings and maintenance is crucial if you’re considering starting a limited liability company, or “LLC.” An LLC lawyer can help you decide whether or not an LLC as a business structure is right for your goals for the business and can also make sure you file all the necessary documents completely and on time.

Do I need an attorney to form a series LLC?

Nov 16, 2018 · Cost of an LLC Lawyer. The charge for an LLC lawyer will vary based on the type of legal work you need them to do and their fee structure. Some LLC lawyers charge a fixed rate of as low as $500 to draft and file LLC formation paperwork, and …

Do I need an accountant to set up an LLC?

Most LLCs only need an accountant when they become profitable enough to justify the additional expense of hiring them.Oct 15, 2020

Which is better LLC or sole proprietorship?

A sole proprietorship is useful for small scale, low-profit and low-risk businesses. A sole proprietorship doesn't protect your personal assets. An LLC is the best choice for most small business owners because LLCs can protect your personal assets.

Is an LLC better for taxes?

One of the biggest tax advantages of a limited liability company is the ability to avoid double taxation. The Internal Revenue Service (IRS) considers LLCs as “pass-through entities.” Unlike C-Corporations, LLC owners don't have to pay corporate federal income taxes.Feb 3, 2021

What are the benefits of an LLC?

Benefits of an LLCLimited liability. Members aren't personally liable for actions of the company. ... Management flexibility. ... Easy startup and upkeep. ... Limited liability has limits. ... Self-employment tax. ... Consequences of member turnover.Feb 10, 2022

How do I start an LLC?

You can form an LLC by filing articles of organization and paying a filing fee with the Secretary of State in the state where you plan to operate your business.

Is LegalZoom legal advice?

The content is not legal advice. The statements and opinions are the expression of author, not LegalZoom, and have not been evaluated by LegalZoom for accuracy, completeness, or changes in the law.

Is it necessary to have an LLC?

Although it's not a requirement for the legal formation of an LLC, hiring a small business attorney can be beneficial, as the advantages of having a professional do the work for you often outweigh the cost. Using an attorney to prepare and file the required documents with the Secretary of State helps you avoid making mistakes when starting your LLC.

Can I use an online service provider to form an LLC?

Using an online service provider to help you form an LLC is an option that provides a middle ground between doing it yourself and hiring an attorney. It's usually less expensive than an attorney and can help you avoid many of the common mistakes that can occur from doing it yourself.

Do I need an attorney to start an LLC?

Hiring an attorney or consulting an online legal service provider is not one of the requirements for starting a limited liability company (LLC), but it is often helpful as you create your organization.

What is an LLC lawyer?

An LLC lawyer who has prior experience with LLC filings and maintenance is crucial if you’re considering starting a limited liability company, or “LLC.” An LLC lawyer can help you decide whether or not an LLC as a business structure is right for your goals for the business and can also make sure you file all the necessary documents completely and on time. Despite the stigma that attorneys charge an unreasonable hourly rate, often, consulting one can help your business and save you money in the long run. Thus, instead of waiting to hire an attorney when faced with a serious legal issue, you might consider hiring an LLC lawyer at the beginning to avoid those potential legal problems.

Is a limited liability company a partnership?

A limited liability company can be thought of as a combination of a partnership and a corporation. Similar to a partnership or sole proprietorship, an LLC is a “ pass-through ” entity, which means that the LLC is not a separate entity for tax purposes and LLC owners only pay taxes on their business’s profits once, on their personal tax return. This avoids “ double taxation ,” which corporations are subject to.

How to find an LLC lawyer?

Often, the best way to find an LLC attorney is simply to get recommendations from other people who have formed a business recently or obtained help on a business legal matter.

How to get legal help for LLC?

A great way to get legal help for your LLC without paying a fortune is by utilizing online legal services. Two such sites are LegalZoom and Rocket Lawyer, which have business legal plans that give you unlimited access to business legal forms and an on-call attorney for less than $40 per month.

How to register as an LLC?

These are some of the specific things an LLC attorney can help you with: 1 Determine whether your business is eligible to organize as an LLC in your state. 2 Determine which state it’s best to register in, particularly relevant if you do business in multiple states. 3 Understand whether, and why, an LLC is better for your business than other business structures, including the tax consequences of each structure. 4 Draft and file your articles of organization, which is the foundational document for an LLC that you have to file with the state to create your LLC. 5 Draft and negotiate funding agreements for your LLC with investors. 6 Help you comply with Securities and Exchange Commission (SEC) requirements if you want to raise money from investors. 7 Draft your LLC operating agreement, which creates the backbone of your LLC and specifies how you’ll make decisions and manage the business. This will cover things like how to invite new members into the business, replace members, and bind the company to business loans and important agreements. 8 Maintain meeting minutes, member resolutions, and other important LLC paperwork. 9 Understand state-specific LLC laws and how to comply with them.

How much does an LLC lawyer charge?

Some LLC lawyers charge a fixed rate of as low as $500 to draft and file LLC formation paperwork, and others charge as much as $3,000. For document drafting and document review, lawyers typically charge an hourly rate of $100 to $300.

Why is it important to pick a lawyer?

The most important thing is to choose someone who has a good rapport with you and who makes you feel confident about your business and protected from risk as you grow.