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Old 01-14-2016
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Default Advice on forming an LLC

It seems like all the threads on this topic are pretty old. Does anyone have any advice on forming an LLC, as I would like to go legit and get a new EIN/business account.

It seems like there are endless websites that will do it for you, I was just wondering if anyone could advise which offers the best value.

Happy Selling
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Old 01-14-2016
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Default Re: Advice on forming an LLC

Getting an EIN is completely free. Go to IRS.gov and apply for one, and you will have one in less than ten minutes. You will have to choose a name for your business and decide how you want to incorporate. Most eBay stealthers form a sole-proprietorship LLC, but you will need to talk to a tax professional to find out what is really best for your situation. After you get an EIN and start using it for business you will have 1 year to file articles of incorporation with your state, which is not free. In my state it was only a little over $100 but in some states it is over $1000.

Either way you decide to go, getting an EIN is completely free. The hundreds of sites offering to do it for a fee are just making bank by filling out the form on the IRS website for you.
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Default Re: Advice on forming an LLC

A while back I made a newbie mistake of opening an EIN online and attaching it to an account which was shut down immediately. To my knowledge you are only allowed to file for one EIN as a sole proprietor?
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Default Re: Advice on forming an LLC

I'm sorry, single member LLC is the one I was thinking of.

I'm not a tax expert. I had to refer to the IRS website..
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