Some cheap ways to form a limited liability company, or LLC, include completing the formation process yourself and forming the company in states where the process is relatively cheap, according to the Houston Chronicle. Using an online incorporation service is another way that may help to reduce the cost of forming the LLC company, states Legal Zoom.Continue Reading
Forming an LLC without the services of a lawyer lowers the company formation cost by exempting the owner from paying the fee that the attorney may demand to render the service, notes the Houston Chronicle. The services that the company owner can do himself include creating the company's articles and filing the company. One way to obtain filing forms is to visit the office of the secretary of state and request for them. An individual can also access the forms online from the state's website, download them and fill them offline, or fill them online if the state allows an online service, taking care to provide all the required details including the company's name and address, and names of the people forming the company. However, paying the filing fee to the secretary of state's office is a must despite not hiring the services of the attorney.
The LLC formation fee varies from one state to another, making the process cheaper in some states, notes the Houston Chronicle. For instance, as of 2015, the LLC formation cost is $50 and $500 in Colorado and Massachusetts respectively. However, forming the company in another state may require extra costs such as the cost of setting up an office and hiring an agent.Learn more about Managing a Business