Advice for setting up an LLC in Georgia
Real Estate Agent · Warner robins · Member since 2015 · 35 posts · 7 votes
Can anyone help guide me in the right direction to set up an LLC in Georgia. Any advice would be greatly appreciated!
Thank you,
Courtney Spiers
It's pretty simple on the Secr of State web site. I formed four LLC's years ago, and in the process of forming one today. They web site isn't intuitive on step 1- but the rest is easy. I had to contact them this morning and found the missing step. Our tax dollars at work i suppose...
Go here: https://ecorp.sos.ga.gov/ You're supposed to "know" that you click the big red tab toward the bottom of the page that says "Online Services". Click it and it will take you to a "sign on" page. Fill it out, and click "next". The following screen shows all the activity you can do on the site. Click the top right button that says "Name Reservation". You do not have to reserve a name - but why go through the process only to have them reject a name - and not refund your money?. Anyway - there is a $25 fee to reserve a name. I recommend to file this online, rather than print out a page and mail it to them. They will let you know by e-mail in 1-2 days about availability. Once the name is approved, log back in, and go to the same main page with all the choices, and click the top left button ( I believe) - to "form a corporation". The rest should be easy, once you receive your entity control number from them.
You will have to fill out a few easy forms (#231), and Articles of Organization - but they give you a sample to follow - easy 3-4 steps. The site provides you these forms - I printed them out just to have them. There...you saved $hundreds doing it yourself!
@Courtney SpiersI would call an attorney. Im also looking for a Georgia Real Estate Atty.
Here's a good place to start. You'll probably want to register your business name first and then apply for your LLC. I'm in the process of doing the same thing.
I used Legal Zoom for my first one and have done them all since by myself. It's not very hard. @Roger Pearcelink above is a good place to begin. Here is a list of forms http://sos.ga.gov/cgi-bin/corpforms.asp the first one you should file is the Name Reservation, unless you think you're going to have an unusual name that nobody has already used. You can also do a business search on the SOS website to see if there are any company names like yours. Feel free to shoot me a message if you have any questions. Good luck.
Just curious, if I already have an LLC that I registered for a different business, say retail, can I use the same LLC for real estate business?
I used legalzoom. Easy, affordable
Legal Zoom or another online platform is definitely your best bet in finding the LLC docs you need. Georgia LLC filing is $125.00 annually. It's easy to do, especially if you are the sole and only owner/manager of the company. You'll also save $100-$200 by not hiring someone to do it. You can also add and/or modify your LLC to include or "umbrella" up to 11 different companies with different names and different members if you wish, all under your 1 original LLC. The best way to do it is have one company for acquisitions, one for sales, one for construction/rehabbing, etc. This way if any legal problems arise only 1 of your entities can be held liable and not your entire company
It's pretty simple on the Secr of State web site. I formed four LLC's years ago, and in the process of forming one today. They web site isn't intuitive on step 1- but the rest is easy. I had to contact them this morning and found the missing step. Our tax dollars at work i suppose...
Go here: https://ecorp.sos.ga.gov/ You're supposed to "know" that you click the big red tab toward the bottom of the page that says "Online Services". Click it and it will take you to a "sign on" page. Fill it out, and click "next". The following screen shows all the activity you can do on the site. Click the top right button that says "Name Reservation". You do not have to reserve a name - but why go through the process only to have them reject a name - and not refund your money?. Anyway - there is a $25 fee to reserve a name. I recommend to file this online, rather than print out a page and mail it to them. They will let you know by e-mail in 1-2 days about availability. Once the name is approved, log back in, and go to the same main page with all the choices, and click the top left button ( I believe) - to "form a corporation". The rest should be easy, once you receive your entity control number from them.
You will have to fill out a few easy forms (#231), and Articles of Organization - but they give you a sample to follow - easy 3-4 steps. The site provides you these forms - I printed them out just to have them. There...you saved $hundreds doing it yourself!
I personally do not recommend LegalZoom. If you are looking for a quick, affordable way of setting up the most basic of organizational structures, then LegalZoom will probably get you past your state's corporation commission with basic paperwork. The real failing of LegalZoom, from the perspective of a lawyer, is that the service does not adequately help you protect your personal interests a number of different ways; the first is that LegalZoom, absent additional fees, will not provide indepth explanation of how to maintain the corporate veil, basic accounting principles, and other common legal strategies that will completely nullify your asset protection plan. The second way is that LegalZoom, absent additional fees, doesn't discuss a personalized business structure plan that explores your risk aversion, your amount of assets, and what type of business structure is actually best for you.
Do not buy into the cultural zeitgeist, an LLC is not the answer to every problem. A strong business attorney can tell you about other styles of business organization such as; limited partnerships, general partnerships, limited liability partnerships, trusts, trusts coupled with LLCs, professional corporations, statutory LLCs, and any number of other unique business structures available in your jurisdiction.
Failure to obtain an attorney now may cost you thousands down the line in terms of not only upkeep, but that potential lawsuit where another attorney demolishes your legalzoom plan based on some technicality you didn't see coming. I recommend seeking out a Business Attorney to discuss your ideas with and help your incorporation.
NOTE: The views in this post are the personal opinion of the poster. You should do your own research to determine whether or not legalzoom is right for you.
It's pretty simple on the Secr of State web site. I formed four LLC's years ago, and in the process of forming one today. They web site isn't intuitive on step 1- but the rest is easy. I had to contact them this morning and found the missing step. Our tax dollars at work i suppose...
Go here: https://ecorp.sos.ga.gov/ You're supposed to "know" that you click the big red tab toward the bottom of the page that says "Online Services". Click it and it will take you to a "sign on" page. Fill it out, and click "next". The following screen shows all the activity you can do on the site. Click the top right button that says "Name Reservation". You do not have to reserve a name - but why go through the process only to have them reject a name - and not refund your money?. Anyway - there is a $25 fee to reserve a name. I recommend to file this online, rather than print out a page and mail it to them. They will let you know by e-mail in 1-2 days about availability. Once the name is approved, log back in, and go to the same main page with all the choices, and click the top left button ( I believe) - to "form a corporation". The rest should be easy, once you receive your entity control number from them.
You will have to fill out a few easy forms (#231), and Articles of Organization - but they give you a sample to follow - easy 3-4 steps. The site provides you these forms - I printed them out just to have them. There...you saved $hundreds doing it yourself!
Thanks for this info! I just applied for my name reservation on the Secretary of State website. I'm going to set up an LLC myself to save some money. I might have an attorney look over things down the road when I start creating income and actually have assets to protect. For now, I just need a simple and inexpensive way to get things going.
It's pretty simple on the Secr of State web site. I formed four LLC's years ago, and in the process of forming one today. They web site isn't intuitive on step 1- but the rest is easy. I had to contact them this morning and found the missing step. Our tax dollars at work i suppose...
Go here: https://ecorp.sos.ga.gov/ You're supposed to "know" that you click the big red tab toward the bottom of the page that says "Online Services". Click it and it will take you to a "sign on" page. Fill it out, and click "next". The following screen shows all the activity you can do on the site. Click the top right button that says "Name Reservation". You do not have to reserve a name - but why go through the process only to have them reject a name - and not refund your money?. Anyway - there is a $25 fee to reserve a name. I recommend to file this online, rather than print out a page and mail it to them. They will let you know by e-mail in 1-2 days about availability. Once the name is approved, log back in, and go to the same main page with all the choices, and click the top left button ( I believe) - to "form a corporation". The rest should be easy, once you receive your entity control number from them.
You will have to fill out a few easy forms (#231), and Articles of Organization - but they give you a sample to follow - easy 3-4 steps. The site provides you these forms - I printed them out just to have them. There...you saved $hundreds doing it yourself!
@John M. You must transfer title so the LLC owns the rental property. To do this, you can use a Quitclaim Deed ( the weakest form of transfer) and you can do this yourself. Basically, the Quitclaim says that any controlling interest you have in the property- you are giving up to the new LLC. In your case- you're fine- as long as you purchased Title insurance to defend the title, so when your LLC sells the property - the chain in title remains good. As long as you didn't cause a lien on the property before you transferred to the LLC- it should be fine. I wouldn't accept a Quitclaim from another seller into one of my LLC's but from yourself to your LLC - I don't see an issue. You know what you did or didn't do since you bought the property regarding ay liens, mechanics liens, etc. Once you fill out the Quitclaim,. you file the document with your county. Call them to see the process- either go to the courthouse and file it, or mail it with the filing fee. Done - title is out of your name and held by the LLC. Make sure you read the rules to keep your LLC active- annual minutes kept, filing fees paid on time, etc.