To file an LLC, a.k.a. Limited Liability Company, is really quite easy to do yourself. If you are looking to start your own business, you do not need to purchase an LLC formation package for hundreds of dollars + state fee. You can file the right documents with the right State governing office, and be up and running in no time at all. This can save you money on a tight budget.
Let’s face it, to file an LLC, most people go with an LLC filing service. This can be quite expensive, and at times you can be charged for extra services you do NOT EVEN NEED.
When you are on a tight budget, it may be more feasible to just pay the state fee to file an LLC. This may make more sense for some as you would NOT need to pay the LLC filing service’s filing fee(or, LLC formation package fee) on top of the state fee.
In this article, we are going to take you step-by-step through the process of filing so that you can file an LLC yourself and save the money. We will explain everything from point of idea to completely up and running!
File an LLC with The Secretary of State
It may come as a surprise for some that the actual forming of an LLC is comprised of some simple paperwork to be filed with The Secretary of State. Just go to your states Secretary of State website, and look up “File an LLC”.
That is easy enough, right? It doesn’t take much more than that. Once you filed an LLC with the correct states Secretary Office, you typically just need to wait for your LLC to be filed.
Some states even have an expedited option so you are not waiting weeks to get to business. You will be able to see that option if it is available when you go to your states website. So, go ahead! Look up “state you want to file in Secretary of State” in google.
Now that you have done step one and filed your LLC, you wait.
Apply for Your EIN Business Tax Number ID
This step is completely free. You need an EIN a.k.a. Business Tax ID for your business. Just like your Social Security Number allows you as an individual to file and remit taxes, an EIN allows you to file taxes on behalf of your LLC. Just go to the Internal Revenue Service website and look up “EIN” to apply for yours.
Publicize Your LLC if Required by Your State
There are only three states that require you to do this when you file an LLC. These states are Arizona, Nebraska and New York. If you file an LLC in any one of these states, you will need to publicize this in an approved newspaper. If you do need to publicize, you can call any local paper to see if they offer this service. I’ve seen this cost roughly 2-$300, so just be prepared if you need to be.
If you do NOT need to publicize for your state, you can move on to the next step.
Open a Business Bank Account for Your Business
This one is pretty self-explanatory. You want your personal finances and business finances separate. However, you will need your filed Articles of Organization, and/or your EIN to open one up.
Apply for Any Business Licenses Needed for Your State
Bizee, a leading LLC formation service explains all of this in detail in “How to Get a Business License in All 50 States”.
There are reasons why you may want to file an LLC with a business formation company like Bizee.
- They are extremely knowledgeable on the subject
- They can get it right the first time
- Lawyer approved business contract templates. Such as; service agreement
- One-time formation payment
- Convenience
- UNLIMITED business name searches
One of the biggest advantages to using a formation business like Bizee to file an LLC rather than doing it yourself is, they offer UNLIMITED business name searches. This is something that can save you tons of time and frustration.
If you go this route, it is a one-time formation fee of $299+state fee to receive an amazing, comprehensive package while they take care of the heavy lifting and get it right the first time. You can get it here.
What is Next if You File an LLC Yourself
If you have done everything from start to finish on this page, you will be in business. You will be ready to do business, and bring in revenue while being legally compliant. Not to mention when you file an LLC you receive amazing tax advantages and personal asset liability protection.
All that is left, if you need, is to purchase business insurance. Assuming you have a contractor’s license if necessary for your industry.
If you want to form an LLC with Bizee, getting rid of all the guess work, but you need more info such as; specific features of their packages, check out our Bizee Review.