Tuesday, September 27, 2011

ABC's of LLC's: How to Form an LLC in Georgia

After considering the options and doing the research, most business owners decide to operate their business as a limited liability company ("LLC").  For the many reasons detailed in my  upcoming "Corporation vs. LLC:  Choosing the Right Corporate Entity", I believe that an LLC is the appropriate choice for most new businesses.  Georgians seem to agree - in the last two years alone, over 70% of the new corporate entities formed in Georgia are LLC's.  If you still are unsure regarding the proper choice of entity for your business, however, please feel free to contact me at your convenience.  I'd be happy to discuss the your new business idea with you!

Once you have decided to start your business as an LLC, you may still wonder how to form an LLC in Georgia.  Fortunately, Georgia makes it very easy to form an LLC in Georgia. Under Georgia law, an LLC is formed by filing Articles of Organization with the Georgia Secretary of State.  An LLC's Articles of Organization are a public document that establishes the existence of the LLC as a separate legal entity recognized by the state of Georgia.  While the Articles of Organization can contain any number of optional provisions, Georgia law only requires that the Articles of Organization state the name of the new LLC. 

The Georgia Secretary of State allows a new business owner to form an LLC online or by mail.  In either case, the filing fee is $100.00.  If you need physical evidence of the LLC's existence on an expedited basis, the Georgia Secretary of State will process the LLC's Articles of Organization on an expedited basis for an additional $100.00 fee. 

There you have it - you now know how to form an LLC in Georgia.  It's very simple, and anyone can do it!  Although anyone can form an LLC in Georgia, however, I recommend you discuss your new business with a competent business attorney before forming an LLC, because the inclusion or exclusion of optional provisions in the Articles of Organization could create headaches for you and your business in the future.  I

n addition, if you will have partners in your new business, you absolutely should contact a competent business law attorney to prepare a written operating agreement for your LLC.  Please see my post "ABC's of LLC's:  Do I Need an Operating Agreement for My LLC?" for a detailed explanation of the importance of a written operating agreement and a few horror stories that likely will convince you to have a competent business law attorney prepare written operating agreement for your LLC!

If you are considering starting a new business and would like to know more about how to form an LLC in Georgia or why you should have a written operating agreement, please feel free to contact me at your convenience.  I would be happy to discuss your options with you!

Monday, September 26, 2011

Starting Your Own Business in Georgia

So you have decided to start your own business - congratulations!  You have the entrepreneurial spirit, know-how and determination to make your business a success, but you still have questions about many of the legal issues you will face when you are starting your own business.  Should you form a corporation, a partnership, or a limited liability company (LLC)?  How will you finance your business?  What small business tax issues will you encounter? And what about employees?

Starting your own business is no easy task; transforming  your business idea into a profitable reality may appear daunting, but choosing the right business law attorney will ensure that your business has the legal, operational and financial foundation it needs to succeed.  It's been said that an ounce of prevention is worth a pound of cure.  Given the tangled web of regulation and red tape facing today's business owners, it is more important than ever to seek out legal assistance when starting your own business to make sure that your new business is on solid footing.

I'm Scott Lowry, a business law attorney in Athens, Georgia, and every day I help individual business owners like you sort through the complex corporate, tax and other legal issues that today's business owners face.  Whether you are starting your own business or are a current business owner, this blog is intended to address a wide range of topics and issues of interest to Georgia business owners.

If you have a current business law issue that you need assistance with, please contact me today.  I focus on providing efficient, cost-effective legal service to my clients with one goal in mind:  as a business law attorney, my success is the success of my clients!