The act of forming a company is, actually, easy. Fundamentally, it means filling out a few blanks in a form from the Secretary of State website and mailing in a check. Done. In fact, for a business with only one owner, other organizational steps like appointing officers, signing up an LLC agreement and printing certificates, may not even be necessary. The harder part is making the key formation decisions, like what kind of legal entity to form, in what state to file and what tax elections to make. For questions like these, paying a website for a package of standard…
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Of course, the answer is “it depends.” There is an article in entrepreneur.com that offers some good thoughts in this regard. They break it down into three options: (i) do it yourself, (ii) utilize a formation service, such as an online provider and (iii) hire a lawyer. Let’s start with (iii). This is the most expensive of the options and can run into the single-digit thousands, but it’s also the safest approach, particularly if your company is going to have more than just one shareholder. In that case, you will want customized documents that provide clarity around important matters like…
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