DMCosta Posted October 4, 2022 Report Share Posted October 4, 2022 Hi Everyone, You have all been so helpful in the past so I'm hoping you can help with this. It's time for my ceramic business to become an LLC. I didn't a little research online and there are some third parties that I see assist with this but I'm not sure where to start or who to trust. Can anyone help point me in the direction? Also what is a registering agent? That a lawyer? Thank you! Quote Link to comment Share on other sites More sharing options...
Bill Kielb Posted October 4, 2022 Report Share Posted October 4, 2022 (edited) Generally a registering agent can be you, a company or a professional individual that meets the requirements of the state. Here is a good LLC guide to give you a better idea of the steps. Years ago I was an LLC in NC, among other states, very similar actually. https://howtostartanllc.com/south-carolina-llc Edited October 4, 2022 by Bill Kielb LeeU 1 Quote Link to comment Share on other sites More sharing options...
shawnhar Posted October 4, 2022 Report Share Posted October 4, 2022 Contact your local small business association and ask for help. We set up and still run ours as an LLC. The creation process is a pain but after that it's easy. Taxes on the other hand, I was brought to tears trying to figure it out, we just pay someone to do it. Rae Reich and Pres 2 Quote Link to comment Share on other sites More sharing options...
Callie Beller Diesel Posted October 4, 2022 Report Share Posted October 4, 2022 I would speak to businesses in your area about the process. From my understanding about the US, it can vary by region, so it’s best to get info from someone close to home. As far as taxes go, find a recommendation for an accountant who knows how to handle creative businesses, and have them set you up with a system. Make sure this accountant will be available to answer questions in a reasonable time frame when they com up, and make sure the system works with your brain and work habits. I prefer to do my own bookkeeping so I can keep an eye on my income and expenses, but farm out my filing. Roberta12 1 Quote Link to comment Share on other sites More sharing options...
DMCosta Posted October 4, 2022 Author Report Share Posted October 4, 2022 4 hours ago, shawnhar said: Contact your local small business association and ask for help. We set up and still run ours as an LLC. The creation process is a pain but after that it's easy. Taxes on the other hand, I was brought to tears trying to figure it out, we just pay someone to do it. luckily my husband works in accounting, thank you for the advice Quote Link to comment Share on other sites More sharing options...
DMCosta Posted October 4, 2022 Author Report Share Posted October 4, 2022 37 minutes ago, Callie Beller Diesel said: I would speak to businesses in your area about the process. From my understanding about the US, it can vary by region, so it’s best to get info from someone close to home. As far as taxes go, find a recommendation for an accountant who knows how to handle creative businesses, and have them set you up with a system. Make sure this accountant will be available to answer questions in a reasonable time frame when they com up, and make sure the system works with your brain and work habits. I prefer to do my own bookkeeping so I can keep an eye on my income and expenses, but farm out my filing. thanks for the tip! Quote Link to comment Share on other sites More sharing options...
Bill Kielb Posted October 4, 2022 Report Share Posted October 4, 2022 47 minutes ago, DMCosta said: luckily my husband works in accounting, thank you for the advice This is great but I would encourage you to read the step by step guide from your state posted above its really done well. I think it will remove some of the scare factor. As far as accounting and taxes you will need to adopt real accounting practices regardless of the structure corporate or not so an accountant or your husband can make that a lot less challenging. Tax filings I always outsourced that, it’s not worth my time to learn tax accounting for various states. Pres and LeeU 2 Quote Link to comment Share on other sites More sharing options...
LeeU Posted October 5, 2022 Report Share Posted October 5, 2022 Where I learned a helpful lot of info for growing a small business was from SCORE (Service Corp of Retired Executives). Every state has this via the SBA and the services directly from SCORE are free, including an experienced mentor if that is desired. Here's the link for SC https://scbos.sc.gov/partners/score It's worth checking out & the webinars/workshops are terrific for today's marketing environments. Roberta12 and Bill Kielb 2 Quote Link to comment Share on other sites More sharing options...
Morgan Posted November 3, 2022 Report Share Posted November 3, 2022 Frankly I would not waste any money on a 3rd party for simply setting up an LLC, which is super simple (not sure why some above says its difficult, but maybe it is in some states?). Your county/state should have some form of a small business site/portal where you can do it online in a matter of minutes. Roberta12 1 Quote Link to comment Share on other sites More sharing options...
Roberta12 Posted November 4, 2022 Report Share Posted November 4, 2022 @DMCosta Everyone has given great advice. I did my LLC myself, online, through the State Dept of Revenue site. But I am in Colorado and I have found all of that differs from state to state. I have yet to find an accountant or even a bookkeeper (in our area) that understands the numerous income streams that we can potentially have. Shows, commission, space rent, studio sales, wholesale, and then of course the over 200 different tax rates in this state and determining which cities are home rule, self collecting. As was suggested, find someone who can give you accurate advice for your state and area. Good Luck! r. Quote Link to comment Share on other sites More sharing options...
Stephen Posted November 10, 2022 Report Share Posted November 10, 2022 In WA I filed everything online through department of revenue. Took a couple hours and cost a couple hundred bucks I think in 2007 if I remember right and in WA you needed a registered agent which serves as the legal agent that receives all official notifications. They scanned it all in and you viewed it online and could download if you wanted. Went with Northwest Registered Agent and it was about $100 a year. I had to renew every year with the State for $65 but if noting changed it was really a couple clicks and a credit card payment. While taxes can be accrual you can also just file on a cash basis if you are single owner (or married couple) LLC so its just an additional schedule C for the business listing revenue and expenses. Good luck. Callie Beller Diesel 1 Quote Link to comment Share on other sites More sharing options...
DirtRoads Posted November 28, 2022 Report Share Posted November 28, 2022 Okay I've used Legal Zoom. I've had 50 or more LLC's. In different states, MS, LA, TN, AL, AR, GA, TX. It's dependent on state. You have to file with the secretary of state and I've found Legal Zoom lays it out for you. We've only used lawyers for LLC's that had partners outside the family ... several years ago when I had mall stores and outside investors. My brother, niece and I have quite a few active LLC's for different interests (my niece is a lawyer in a really big firm but we don't use her firm to do those). You want it for taxes? I've always found Legal Zoom adequate. Or I have registered a few myself directly with the state of Mississippi. Callie Beller Diesel 1 Quote Link to comment Share on other sites More sharing options...
oompafoxfernpeas Posted January 30, 2023 Report Share Posted January 30, 2023 A registering agent, also known as a registered agent, is an individual or company appointed to receive legal documents on behalf of an LLC. The registered agent must be located in the state where you are forming your LLC and must have a physical street address (not a PO Box). Depending on your state, you may be able to act as your own registered agent or you may need to hire one. In terms of forming your LLC, the best place to start is by researching the LLC filing requirements in your state. Many states provide online resources to guide you through the process. Additionally, you can hire a lawyer or a third-party formation service to help you with the paperwork and filing process. It is important to do your research and to choose a reputable service for your LLC formation. You want to make sure that the service is experienced and understands the legal requirements for forming an LLC in your state. Additionally, you should make sure that the service provides you with all of the necessary documents and that they are properly filled out and signed. Good luck with your LLC formation! Quote Link to comment Share on other sites More sharing options...
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