8 replies to this topic

[meanmark]

I just purchased 30 machines and placed them but I wanna become a legal Corporation. Anyone have leads to do this adn about how much does it cost for licenses and becoming a corp!!!

Thanks!!!

[candyqueens]

I just purchased 30 machines and placed them but I wanna become a legal Corporation. Anyone have leads to do this adn about how much does it cost for licenses and becoming a corp!!!

Thanks!!!

What state are you in?

[caserri]

Here are some good starting points in your journey towards incorporation. Keep in mind that incorporation is an expensive undertaking that 30 machines will not support. Don't get me wrong, I am not saying that the protections afforded by being incorporated are not worth it, but just keep in mind that with just 30 machines it will take some time to recover the costs associated with incorporation.


www.corporate.com
www.nolo.com

[Guth Vending]

O yea buddy. I would have paid around $1,000 to do it. I said forget it.

K.G.

[candyqueens]

1000.00 is really high to pay to incorporate your business, most states are less then a few hundred bucks. All it really requires is some leg work and with the internet most of the forms are online. If you are interested in forming an LLC, check out your state's forms to do that. You might pay a couple hundred bucks more, but you buy yourself protection and perhaps a little less likelihood of being audited by the IRS.

All in all the only thing required to form an LLCis an Operating Form, picking a statutory agent which could be yourself, and running an announcement in a publication for a few weeks to state you are forming an LLC. As mentioned above your state should have a site with all these forms, and if not there are tons of companies on the web that will do it for around $400.00. I have used LegalZoom in the past and they have done a great job for me.

[meanmark]

What state are you in?

I am in Texas

[clvending]

nolo.com is a good place to start. I bought software on how to become a LLC for $100. I was able to file the forms myself w/ the state (Colorado). It cost me about $150 which includes the software. I lawyer would of cost me 10x that amount. It costs me about $10 to stay current w/ the state. My advice is to keep your business above board. Not worth the few bucks you save to cut corners. You can also show potential locations that you are a legal business and some fly-by-night operation. My opinion mind you. But I like the fact that I am running a LEGAL business!!!!

Lee

[candyqueens]

I am in Texas

Just a little research I found this site, and I think it might be a great place to start:

http://www.sos.state...inessfaqs.shtml

Do yourself a favor and form an LLC, very worth the few extra steps to do everything right the first time around.

[caserri]

Do yourself a favor and form an LLC, very worth the few extra steps to do everything right the first time around.

I very much agree. However just be advised that with 30 machines you will run in the red for a while. As long as you are well with that and prepared financially then go for it.