Cost of Upstate NY LLC, and How can I do them myself?

2 Replies

Hi BP,

I am looking to set up my first LLC per the advisement of my CPA, my attorney that does them, told me the cost would be around 1500, I also heard 950, from another attorney who still hasn't gotten back to me. My question is, should I set one up myself? If I do, what do I need to do and what other things do I need to do per year to make sure I have everything done correctly? If I choose to reach out to an attorney, whether its the one who has done all my closings in the past, (the one who quoted me 1500) or another one; would they teach me how to do it myself for next time?

@Benjamin Allen it's been about 5 years since I lived in NY but the New York Division of Corporations used to be very friendly with helping people form a LLC. Try reaching out to them first and see if it's easy enough for you to do it yourself.

@Benjamin Allen I wrote about this awhile back, maybe this will help:

Since then I've determined that it really depends on what you are doing if you need an LLC or not. A good operating agreement could protect you should a partnership dissolve. Lots of assets in your personal name should be properly protected as well. So if you have a high net worth and lots of partners I would cough up the money and have an attorney do it. $1500 seems high though.

Highly doubt they will show you how to do it on your own, how else would they get repeat business? 

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