Forming a Corporation, LLC in Illinois.

[GG Allin]

Anyone who's done this and can offer some advice, please chime in. A few Questions:

Can I do this alone without the help of a lawyer?

Why choose an LLC, Corporation or other type?

Once formed and recognized by the state, how do split up ownership among partners?

Should I just have a lawyer do it?

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[GG Allin]

Have a lawyer do it. Outline your concerns and desired structure of power. They'll guide you and set it up as wanted

That's kind of where I was leaning. But I absolutely hate paying people to do things I can do myself.

 

[Z28Camaro]

I've used a lawyer for this twice. If you don't intend to do any actual business with the LLC then you might be able to do it yourself.

 

[GG Allin]

I've used a lawyer for this twice. If you don't intend to do any actual business with the LLC then you might be able to do it yourself.

This is for the purpose of setting up a small, 1-3 truck trucking company.

 

[Z28Camaro]

I'd use a lawyer then.

 

[skeezer]

I can refer you to my accountant that is a mad genius and hook this up on the real.

 

[lightning2003]

Definitely use a lawyer even more so if your going to have partners. Like someone has said they can guide you also set it up to protect you if you have partner problems.

 

[importcrew]

Lawyer or knowledgeable accountant. My wife's accountant set up her company as a LLC then last year converted it to S-Corp.

 

[Flyn]

Illinois is expensive for corporations. I would set it up in another State if possible.

 

[Gamble]

Fees in IL suck. I setup as an LLC and I used legalzoom.com super easy and cost about $1k, but it's only me. If anyone else was involved I would get a lawyer

I'm also reading this book and I think you should too. There is a TON of good information in there and they have covered some of these topics about multiple owners, LLC vs Inc vs S corp etc
https://www.amazon.com/dp/1401312926/?tag=tcg21-20