[Hidden-tech] LLC questions

[Tom Gajda]

Hi Charlie,

I believe if you are registering an LLC in Massachusetts and live in
Massachusetts, you can be your own registered agent and save 100 dollars.

Regards,

Tom


 
Tom Gajda
Copywriter
Thomas Paul Communications, LLC
284 Westerly Circle
Ludlow, MA 01056
 
thomasgajda at charter.net
www.thomaspaulcommunications.com

Office: 413-547-8936
Mobile: 413-297-2246


 

-----Original Message-----
From: hidden-discuss-bounces at lists.hidden-tech.net
[mailto:hidden-discuss-bounces at lists.hidden-tech.net] On Behalf Of Charlie
Heath
Sent: Thursday, February 01, 2007 12:51 PM
To: Hidden-discuss at lists.hidden-tech.net
Subject: RE: [Hidden-tech] LLC questions

   ** The author of this post was a Good Dobee.
   ** You too can help the group
   ** Fill out the survey/skills inventory in the member's area.
   ** If you did, we all thank you.


Thanks Rich and all the others who replied on and off the list about
incorporation options.

I've heard slightly different numbers from different sources about initial
and annual state fees comparing S corp and LLC.  Here's what I've compiled
for state fees; please confirm all numbers for yourself!

S Corp has an initial state fee of $284; plus an annual corporate excise tax
of $456 via state tax form 355S.  LLC has an initial state fee of $520,
repeated annually (the secretary of state site lists this as a $500 annual
fee) and generally is not liable for other excise taxes if it has a simple
structure. S corp must maintain more formal paperwork and corporate
functions.  For either, you need a registered agent, which the online
corporate firms can provide for about $100 per year.

Some people here offered good reasons for consulting with a lawyer and
accountant prior to incorporating.  Others have used online service agencies
such as http://www.legalzoom.com .  My reading of the Sec of State's
instructions for filing as an LLC is that it could be done by someone who
has some experience with legal forms and patience & time to read through the
instructions. Caveat, though: if you ever really need the INC status, you'd
better have filed and maintained your records correctly.

My conclusion is that over time, an LLC probably costs a bit less and has a
bit less paperwork to maintain for a simple software contracting firm.  Your
mileage may vary!

Charlie Heath
Blue Herring Consulting
http://www.blueherring.net



-----Original Message-----
From: Rich [mailto:rich at on-the-net.com]
Sent: Wednesday, January 31, 2007 3:26 PM
To: Charlie Heath
Cc: Hidden-discuss at lists.hidden-tech.net
Subject: Re: [Hidden-tech] LLC questions

In the software company discussion I think you mentioned a fairly high
expected cost to create an LLC -- you should be able to create a LLC (or Sub
S) using an online service within a day (maybe 2) for $200-500 plus State
fees. The time to confirming from the state (Mass anyway) is within 24
hours.

We did a sole member LLC to start - can't sell stock but didn't need to
initially.

...

_______________________________________________
Hidden-discuss mailing list - home page: http://www.hidden-tech.net
Hidden-discuss at lists.hidden-tech.net

You are receiving this because you are on the Hidden-Tech Discussion list.
If you would like to change your list preferences, Go to the Members   
page on the Hidden Tech Web site.
http://www.hidden-tech.net/members