Why not get the same tax benefits and protection that the larger corporations get? Form an LLC.
: Laws vary by state. Always consult an attorney for expert, specific legal advice.
Step 1: Decide on name Decide on a business name. Conduct research on your state's website to find business name availability and proper designators.
Step 2: Pick up "Articles of Organization" Pick up the "Articles of Organization" (referred to in some states as "Certificate of Formation") at the LLC office located in your state or on your state's website. Otherwise have it mailed or faxed to you.
Step 3: Fill out articles of organization Fill out the articles of organization or certificate of formation.
TIP: Before submitting the application, consult an attorney to write up an operating agreement, especially if more than one person is involved in founding the LLC.
Step 4: Publish notice Check to see if you are required by your state to publish a notice of your intent to form an LLC.
Step 5: Drop off, mail, or fax articles of organization Drop off, mail, or fax the completed articles of organization and include a check or credit card information for the filing fees.
Step 6: Get an EIN number Get an Employer Identification Number, or EIN, from your local Internal Revenue Service by calling 800-829-4933.
TIP: Go to irs.gov to apply for an EIN number, and enter your EIN in the search box.
Step 7: Wait for review Wait for the review process to be completed, normally anywhere from 5 to 10 days. Now you're in business.
FACT: The first state to enact an LLC statute was Wyoming in 1977, followed by Florida in 1982.