Forming LLC in California?

9 Replies

I think I would like to take care of the whole formation of LLC. I also would like to know if the $800 payable to tax board is every year? I also need to prepare an operation agreement between me and my business partner. Will this be part of the LLC?

It's easy,you can print up your own LLC-1 form fill it out at the Sec. Of State site, have a solid company like SunDoc filings in Sacramento file it for you fast...usually around $169.00, be sure to get your own stamped filed copy. Then you have your SS-4 form to get your EIN # from the from the IRS site, and for a good Corporate Stock Kit/Seal $52.00 delivered. and don't forget to file your LLC-12 form within 90 days too!, To become lender compliant when your ready luck.

Any agreement between you and your business partner would be a separate agreement from forming an LLC. Sounds like you and your partner need to hire an attorney to draft the agreement. Having an attorney draft and file your LLC would cost about $1,200. As a previous poster mentioned, doing it yourself would be cheaper. If you're looking to buy your first property, a LLC is likely unnecessary. In any event, good luck!

@Renata Cerveny I was wondering if the LLC you are forming is in California or if it's in another state. I'm in the process of purchasing a property in Indiana and forming an LLC in Indiana, however it's my understanding that I also need to file the LLC with the California Tax Board. @Drake Dalton do you have any advice on structuring an LLC out of state while paying minimum taxes in California? My partner is a family member that resides in Indiana and can take full advantage of the low taxes in the Mid-West. Thanks in advance for you input!

@Alexandro McQuillan I have created LLC in Wyoming for $150, very easy and fast. 0 tax rate in Wyoming. A lot of people also like incorporating in Wyoming for this reason, because Wyoming doesn't track who owns the company, just the directors. So CA can't get WY to tell them who owns these Wyoming companies, because Wyoming itself doesn't know, and frankly doesn't care.Your only cost would be the annual report and a registered agent fee in that state. Wyoming for instance has no corporate income tax, but the annual report is $50.

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