LLC formation

by a searcher from Pennsylvania State University

2 years ago

Hi everyone - I'm just getting started and I'm forming my LLC. I"m speaking with an attorney who I will likely engage for the acquisition process and they quoted me $1550 for the formation and the whole package. The operating agreement, the EIN, tax license completion and compliance, etc. This seems exorbitant but I thought I would need more help/support compared to the service I could get through legalzoom. Does anyone think you need to spend the extra money for the extra protction or not necessary?

Thanks in advance.

3 likes
616 views
34 comments

searcher from University of California, Los Angeles - UCLA Anderson School of Management

So basically what I've gathered here is that the prime benefit of a search entity LLC is to protect yourself if you are sued. This is a very low probability. Also, if that is the case, the solo searcher should pick the lowest cost state to form an LLC in (Arizona was suggested above) and form it there. If investment is later taken on, a new LLC can be formed in the state of operation. Do I have that all right??

5 months ago | like reply | 0 likes

searcher from University of Dublin, Trinity College

I'm in the same boat, thanks for asking this question!

2 years ago | like reply | 0 likes

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