On this screen where you add members, enter your initial investment in the LLC, and what percentage of the business, or how many business units it represents. I think in the big picture it may not matter as much, but do your own research to see what works best for you. I went with business units since I viewed them like shares, and are easier to divide in large numbers or small numbers without needing to go into 5 decimal places. So you could express 2 members sharing 50/50 ownership by 50% each, or in terms of half the business units. Business units are arbitrary and not tied to a dollar amount. The main question here that I had to think on was whether to use percentage for membership share or business units.
See the "How did most people answer this question?" parts? Those were helpful, but I sometimes went against the wisdom of the crowd. The answers you see above are my answers, and not necessarily the defaults. I won't go over every screen (although almost all are here), but some key ones. The little help parts on the forms were quite helpful in making informed decisions about which paths to take. I'll hit on some of the screens you'll see and give you some extra info on what they are asking. It also mentioned that a typical lawyer would charge $1839 for a LLC. Also, if you are a little queasy on the total, they offer an installment plan over 2 months. I chopped off the part where it states that the purchase price is tax deductible, subject to IRS limitations. I chose the middle package (Standard), because I wasn't in a huge hurry, and because I'm a sucker for fancy stuff like leather-looking binders and company seals:īefore we go too much further, here's a rundown of the price I paid for the whole deal: There's something here for everyone from the budget-conscious to the impatient high-roller. There are three packages you can choose, but you don't have to worry about picking which until checkout. But for the purposes of this, we're going with a Delaware LLC. Whether you're here to incorporate or do an LLC, they can handle either, and for just about every state. I'll guide you through the whole process, which takes about 30 minutes. But since I've had good experience with LegalZoom in the past I used them. There are any number of companies that would jump to help you: The Company Corporation and LegalZoom are just two. Once you've got your business and personal accounts separated, it's time to take the plunge and get your LLC. OK, this is where the real action happens. This is Part III of the Delaware LLC series. Menu Using LegalZoom to Set Up your Delaware LLC 31 July 2011 on business, llc, taxation
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