what lawyer can i speak with starting an llc

Having an accountant or tax attorney advise you during and after the LLC formation process will allow you to best take advantage of this benefit. Among other things, your tax adviser can inform you how to get your company's tax identification number and use it to open up a bank account.

Full Answer

Do I need an attorney to start an LLC?

Partnerships and LLCs must register with the state. Documents must be prepared, such as a partnership agreement or an LLC operating agreement. You might be able to register online with your state or use an online service to register your business, but it might be a good idea to use an attorney if your business is at all complicated.

Why should I hire an LLC attorney?

An LLC attorney can help you understand if an LLC is in fact the best legal structure for your business, help you establish your LLC, and help you define the financial and management structure of the LLC as you grow the company to the next level.

Can I have an LLC name for a small business?

So you can’t, for example, have “Joe’s Donuts, LLC” and “Joe’s Donuts, Inc.,” even if they’re located in different cities. Many states also restrict companies from using certain words in their names, such as “bank.” You can search existing business names online in many states to determine whether your proposed LLC name is available.

Who can serve as a registered agent for an LLC?

Most states allow anyone who is a state resident over age 18 to serve as a registered agent—including a member or officer of the LLC. There are also companies that provide registered agent services for a fee.

Should I speak to a lawyer before starting a business?

But meeting with a small business attorney before starting a business can be one of the smartest moves you'll ever make. A business lawyer can explain how to start a business and answer your business law questions. But more importantly, a lawyer can identify the risks you face and help you minimize them.

How do you come up with an LLC?

How to Choose an LLC NameMake It Legal. The most important thing when you're choosing an LLC name is to make sure it's legal. ... Make It Memorable. You want your LLC name to be something people can remember. ... Make It Meaningful. ... Make It Original. ... Make It Distinctive. ... Make It Domain Name Ready. ... Make It Social Media Friendly.

How long does it take to set up an LLC?

The formation process of an LLC depends on the state. The average time is 7 to 10 business days while other states take about 4 to 6 weeks. For some states, you will get approval immediately after the articles of organization, meaning the turnaround time can be as fast as 3 business days.

How much does it cost to set up an LLC?

The main cost of forming a limited liability company (LLC) is the state filing fee. This fee ranges between $40 and $500, depending on your state. There are two options for forming your LLC: You can hire a professional LLC formation service to set up your LLC (for an additional small fee).

How much does it cost to register an LLC?

Your LLC will give you tax benefits and protect your personal assets if anything happens to your company. It costs between $50-$500 on average to register your business. You do not need an attorney to form an LLC.

What is a business lawyer?

Business lawyers if you need to change your business structure to a single-member LLC, S corporation, or another type of business, or need help with another business-related legal matter. General counsel to review compliance with state laws, state agencies, state fees, or annual fees.

How much does a business attorney cost?

A business attorney can save time and money when business owners create a new business. For around $200 to $5000, they can handle the items you may not have time to consider, such as: 1 Creating an LLC operating agreement that explains the who, what, when, where, why, and how of your company (this is required in some states) 2 Creating articles of organization that list the registered agent, LLC management, and the date of formation 3 Keeping detailed records in case of lawsuits or audits 4 Filing fees and registering with the correct people 5 Registering your business name and checking that the LLC name is available 6 Completing and filing all legal documents

Do I need an attorney to register my business?

However, by law, you do not need an attorney to register your own business. Other documents and legal services can be handled with a DIY approach or trusted to an attorney to save you time and prevent mistakes along the way.

Can an LLC be sued?

Once you register, you can buy or rent a building and have company bank accounts. Unfortunately, your company can also be sued.

How to create LLC?

There are several options to create an LLC: 1 to hire a Lawyer/CPA 2 to use independent filing service 3 to file it yourself at the SOS portal.

What is LLC in business?

A company such as LLC is just an organization and facilitates the business. It is not too much work, just have to remember to pay your tax and file tax forms, if you have a company with no active business. Like they say, easy come, easy go. Anything you can get for no cost have literally no value.

Can you convert an LLC to a C-Corp?

Quick note: It is possible to convert an entity from a LLC to a C-Corp. It can be a pain to do this, but it can be accomplished, so don’t worry if you are already formed as a LLC, you can change it later on – we’d recommend you plan to do it in conjunction with an outside financing round as it is not a cheap process.

Why do small businesses have an LLC?

Many small business owners decide to set up an LLC for the liability protection it provides. An LLC, or limited liability company, exists separately from its owners (known as members), and the owners are therefore not personally responsible for business debts.

What is LLC in business?

An LLC is a popular and flexible business option that works well for many small business owners. In most states, LLCs are relatively easy to set up and maintain. However, it’s important to fill out the paperwork properly and have an operating agreement that defines the members’ rights and responsibilities.

What is a registered agent in an LLC?

A registered agent is a person who agrees to receive lawsuits, subpoenas and other official documents on behalf of the LLC and to pass them along to the appropriate person at the LLC.

What happens after an LLC is approved?

After the LLC’s formation documents are filed and approved, the state will issue a certificate or other document that confirms that your LLC formally exists. Once you’ve received the certificate, you can take care of business matters like obtaining a tax ID number and business licenses and setting up a business bank account.

Can two businesses have the same name?

Most states don’t allow two different business entities to have the same name. So you can’t, for example, have “Joe’s Donuts, LLC” and “Joe’s Donuts, Inc.,” even if they’re located in different cities. Many states also restrict companies from using certain words in their names, such as “bank.”

Is an operating agreement required by law?

The operating agreement typically isn’t filed with the state and may not be required by your state’s laws. However, it is an important way for business owners to define their rights and responsibilities and minimize future disagreements.

Why do I need a lawyer?

Maybe you borrowed money from one of your peers in exchange for equity in the business, or maybe you plan to start a company with several partners—whatever the situation, you’ll want legal documents to set boundaries and minimize future disputes, Arney says.

What do business owners need?

Business owners need someone who knows them and their business and is independent enough to keep the vision tied to the real world,” she says. Ideally, this person will be able to give you advice for years to come—not just as you plan your business, but also as your business grows.

Is it a good idea to get advice from someone in the business world?

Getting a little advice from someone in the business world is also a good idea. Whether you’re opening your first business or your fifth, talking with someone who can give you independent business advice will go a long way, Arney says.

Can I register my business online?

You might be able to register online with your state or use an online service to register your business, but it might be a good idea to use an attorney if your business is at all complicated. Corporations or S corporations must register with the state as well.

Do I need an attorney to start a business?

The simpler your business, the less you'll need an attorney. A sole proprietorship is the simplest business form. It doesn' t require that you register your business with your state, so no, you probably don't need an attorney ...

Why is it important to meet with a small business attorney?

Meeting with a small business attorney is an important way to get your business off to a good start and minimize future risks. Here are questions to ask at your first meeting. New entrepreneurs have their hands full, making plans, developing products and services, and lining up financing.

What does a business lawyer do?

A business lawyer can explain how to start a business and answer your business law questions. But more importantly, a lawyer can identify the risks you face and help you minimize them. When you meet with your lawyer for the first time, it’s a good idea to have some questions in mind.

How to start a business off on the right foot?

Always ask your business attorney to assess your risks and identify ways to alleviate them. Getting business advice and legal help from a small business lawyer is a smart way to start a business off on the right foot. But don’t lose touch with your lawyer once your business is up and running. Make it a habit to seek business legal advice regularly ...

What is a limited partnership?

Other options include a limited partnership, in which some partners are fully liable for business obligations, and others are not, and a nonprofit corporation.

What to do before starting a small business?

Before starting a small business, you must decide how your business will be structured. If you do not form a formal business entity, your business will either be a sole proprietorship (with one owner) or a general partnership (with more than one owner). Legally, you and your business will be the same “person,” so if your business has debts ...

Can you use a name that another business is already using?

Every state has rules about the names that new business entities can use, and in general, you can’t choose a name that another business is already using. Also, it’s risky to choose a name that might infringe on another business’s registered trademark.

Do businesses have copyrights?

Businesses also may have copyrights in any original works of authorship, including such things as photographs, brochures, and websites. Copyright protection is particularly important if you are in a creative field. And if you have an invention, you may need to apply for a patent.

What are the legal ramifications of starting a business?

There are several legal ramifications of starting a business. It can lead to issues related to liability, copyright, employee rights and everything in between. So one of the first steps you should take as you work to get your business off the ground is speak with an experienced business attorney.

Can a business attorney help you make sure your name of choice is available?

And you also need to be sure that you’re not infringing on any existing copyrights or trademarks with your name choice. So a business attorney can help you make sure your name of choice is available and walk you through the necessary paperwork.

Do you need a lawyer for a business?

Once your business starts working with vendors, suppliers, clients, or any other third parties, you’ll need written agreements in place to ensure that all parties involved know what to expect. A lawyer can help you draft specifics or at least walk you through the creation of some templates that you can use in common situations.