Get An Llc Yet?

Business By pj22 Updated 18 Sep 2011 , 2:16am by pj22

pj22 Posted 17 Sep 2011 , 11:44am
post #1 of 5

Hi!

I am starting out with a full-fledged business and have the necessary insurance and inspection done. However, I hardly get 1 or 2 orders a month and it is not too busy yet.

I was reading on the forums about how LLCs are safer and people who sue you can't come after your personal belongings if you have an LLC. My question is, should I get an LLC right away or wait until I have more orders and see how my business goes? I don't want to spend money on the incorporation of an LLC when I won't have that many orders to fulfill.

Appreciate you guys' input! Thanks!!

4 replies
jason_kraft Posted 17 Sep 2011 , 3:30pm
post #2 of 5

From what I can see, it only costs $100 to file for an LLC in VA and $50/year to file your annual report, that's much cheaper than other states and should be a no-brainer. (Compare to CA, which charges a minimum annual LLC tax of $800.)
http://www.scc.virginia.gov/clk/dom_llc.aspx

If you need some help filing, check out the basic package from LegalZoom for another $100.
http://www.legalzoom.com/llc-state-requirements/virginia-llc.html

CakeItGood Posted 17 Sep 2011 , 5:23pm
post #3 of 5

If it is that inexpensive in your state, I would get it done ASAP. Not only will it protect you personally, it also adds a level of credibility that some clients may look for before choosing your business.

It is next on my list, but is closer to $200-300 where we live, so it will be 1-2 cakes from now. My top three wish list - an LLC, the Cake Stackers Pro set, and an airbrush machine thumbs_up.gif

JoanieB Posted 17 Sep 2011 , 7:20pm
post #4 of 5

Definitely! just look online. I paid $50 to set mine up and did it all on my state's website.

pj22 Posted 18 Sep 2011 , 2:16am
post #5 of 5

Thanks everyone for the advice! I really appreciate it! 4bugzinarug, I hope you get your wishlist soon!!

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