Creating an LLC

[jake75]

Anyone have any tips on creating an LLC?

 

[TexasRedneck]

Yeah - if you don't KNOW what you're doing, don't. Screwing around with something that can result in Federal charges if done improperly just ain't worth....ask some of the folks that used those on-line "legal sites" to do their firearms trusts, only to have the ATF come in AFTER the fact (and approval and aquistion of NFA weapons) and declare them invalid.

 

[SIG_Fiend]

Yep. The whole saying about "buy right and buy once" is true. Invest the money in having a trust professionally done by a lawyer that knows what they're doing. Then you won't have to worry about whether it's legal, whether it was done properly, etc.

Sean Cody (SC-Texas) is a good guy to deal with, and he's in Houston. I highly recommend him: Home
He did the LLC. for my business.

 

[wakal]

Delaware is a good place to set one up. You do not need to step foot in the state, no taxes (unlike Texas), and...did I mention no taxes?


Alex

 

[Tejano Scott]

Anyone have any tips on creating an LLC?

For what purpose are your setting this LLC up? I think a couple of members are assuming you will use the LLC to avoid the CLEO sign off for NFA stuff. If that is indeed your purpose, I recommend you listen to them and do not attempt it yourself. Call Sean Cody and get a trust and thank us later.

For any of the other millions of reasons you might set up an LLC, the answer varies. Typically corporations are set up to sheild an owner's assets from potential liability. If you: a)have assets to protect or b) genuinely believe you may be subject to claims/suits/etc, then you should contact an attorney or business planner and do it right. Seeking tax advice at this stage is also a good idea. If you are judgment proof(aka broke) and just want to have an LLC, go to the Texas Secretary of State's website and start reading here:

About the Corporations Section

 

[jake75]

LOL, I'm not setting up a NFA trust or anything. I'm starting a buisness. One of the steps is to get my FFL and I wanted to create an LLC. I called my lawyer and discussed it with him today. I made an appointment to go in and discuss it further. I'll be starting an online gunsmithing class after the first of the year and will have my CHL instructors liscence by then. I'm looking to go to any NRA classes I can find but have to wait until they are available again. Just tired of working for someone else and figured I'd try and work for myself. Ya never know unless you try. May succeed, may fail, but it's worth a shot.

 

[Acera]

Good luck, if you change your mind about NFA items, don't fall into the quick route and use your LLC for them. I can tell you from personal experience how it will piss you off to have to pay for that $200 stamp for the same items a second time to get them transferred.

Have you lawyer set you up a trust when he helps with the LLC, you can use it for your families sake in place of your will.

 

[Tejano Scott]

Best of luck to you. It's definitely very rewarding working for yourself and you are smart to seek legal counsel. If anything ever happened with one of your repairs, etc. or someone gets shot in a CHL class, you are definitely going to want as much legal protection as the law will afford you. As an attorney, I can tell you most of us have no clue on tax matters so its probably a good idea to seek advice on that as well.

 

[Texas1911]

+1 for seeking legal help via a lawyer. It's worth it in the end to do it right and be informed of all the nuances of LLC ownership.

 

[jake75]

I'll look into the tax matters. Thanks for the tip.