Legal Question in Business Law in New Jersey
Average price for a small business LLC
My Business is set up as a sole propriator and im looking to change to a LLC. I have 7 employees. I would also like to have a second LLC for a related business with Two partners(51%ownership for me and 24.5% between the other two)
I would appreciate a ballpark lump sum fee, not by the hour.
Thank you in Advance.
3 Answers from Attorneys
Re: Average price for a small business LLC
Our firm generally bills only on a flat fee basis. To set up an LLC and prepare the necessary certificates of ownership and operating agreement will cost between $1,500-$2,000. This will include any meetings and telephone discussions. In addition, filing fees (for the corporate book and filing with the secretary of state are about $300). Your email mentions that you are a sole proprietor. Setting up an LLC for your sole proprietorship may protect you against future creditors but may not be the best entity for tax purposes. As tax attorneys, we can discuss these additional issues with you. The LLC for you and your partner may be beneficial from a tax standpoint. If you have any questions, we do not charge for an initial consultation.
Pamela C. Polifron, Esq.
Selesner & Polifron, PA
225 Millburn Avenue, Suite 208
Millburn, NJ 07041
(973) 467-8000
Re: Average price for a small business LLC
We can assist you. To set up an LLC in NJ runs around $2000 including expenses. We are, however, compensated on an hourly basis for the services we perform on your behalf.
Re: Average price for a small business LLC
hi -
to set up the 2 companies - you're looking at around $3500 plus costs (filing fees to the state;
cost of ordering the llc books). feel free to call me at 609 263-0089 if you have any other questions. good luck !!
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