My best friend and I are about to start selling natural spring water, so we are investing the advantages of incorporating our business. Is it better to do it yourself or to pay someone to help with the incorporation process? In addition, how do we market the product to potential buyers who are interested in selling their own name brand water. The natural water source is owned by my best friend's dad so we are first line distributors located in Stafford, VA.
In NY, I usually call a firm that is in the state capital and it cost about $350 including fees to file only. From there, it is up to you to have an attorney prepare an operating agreement or bylaws (depending on what state you live in and what type on entity you create - in NY it is not required to file op agreement, but it is prudent to have it prepared in case of a falling out with your partner and to have clear guidelines and goals of the business). I am not an attorney, but my experiance has shown me that an LLC is fairly simple to create and offers great protection to the individual. Good Luck
I took the articles of incorporation from a business of a friend, reworked it, hauled it off to my local county clerk, paid him the requisite $14, registered for a sales tax number at the same time, called the IRS and got a employer's ID number, and was done. Contact your local city hall to find who it is that helps small businesses get started, have a meeting with them and they will have a quick and easy program all photocopied out for you that tells you about local regulations. And if you live in California, the home of the senseless bureacrat, move first. love, wiz
I recommend you consider which state you incoporate in, many states require things that a small start up company do not have access to. One of the cheapest states an lowest regulated for new corporations is the state of Delaware. I hoped this helped Mr Crow
Crow, you are right, Delaware is the preference for many business. I would find out what level you need to file (ie, state, county, etc). After that, you will know your path.