Legal Question in Business Law in Florida
Are the on line forms for setting up a S-Corp good enough ? Or should I hire a lawyer ? If so what is a fair price?
3 Answers from Attorneys
You can register your corporation yourself through Sunbiz.org by filing articles of incorporation online. There are so many different things you have to consider when setting up your corporation besides just corporate registration that it may be a good idea to work with an attorney and account, and/or get some books from the library. Attorney prices vary depending on whether you need an operating agreement, website agreement, service contracts, etc. There is good information on the U.S. Small Business Administration's website & IRS website too. Best of luck to you!
Possibly. I even wrote a book many years ago to show someone how to do it.
But I remember something from law school a professor taught me. Never copy something if you don't know what it means. By you using the on line forms and if you don't understand what they mean, you are asking for problems. Problems a trained business/corporate attorney can avoid up front.
So you make the call. Do it yourself and not know what you did, or hire someone who will do it right.
You can get a lot of quotes from attorneys. The other rule is that you get what you pay for. Some attorneys may draft the documents and file it, but do they get you your corporate books, and complete them for you? Do they help get your tax id #? Etc.
If you are going to hire an attorney to do it right, make sure they will do a full job for you. A fair fee is around $500-$600, plus costs. Many attorneys, like me, charge a flat rate including all costs.
Any attorney will say starting a corporation is relatively easy. But the follow-up - making various elections, issuing stock, etc. are areas where expertise is needed. Consult with an attorney in your area for specifics.
Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise
Franchise Attorney
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