I would think so. A Limited Liability Company is the newest type of legal business organizational structure. It combines favorable characteristics of the Corporation, limited liability, while offering the favorable tax treatment of a partnership.
I would think that it would be a good idea to use an LLC or a private corporation, either a chapter "S" or "C", but i'm not sure which of those would be the best.
Stands for Limited Liability Company![ Edited by TomStewart on Date 04/18/2004 ]
Thank you for clearing that up for me!! Is it necessary to have a LLC when wholesaling homes??
It is recommended that you wholesale in a llc or corporation. You open yourself to a lot of personal liability operating under your own name.
How do I go about starting an LLC and how much does it cost?
I would think so. A Limited Liability Company is the newest type of legal business organizational structure. It combines favorable characteristics of the Corporation, limited liability, while offering the favorable tax treatment of a partnership.
I would think that it would be a good idea to use an LLC or a private corporation, either a chapter "S" or "C", but i'm not sure which of those would be the best.
You would have to file Articles of Organization with the state and pay a fee. [ Edited by TomStewart on Date 04/18/2004 ]
Kansas cost $20 to file.
Who do I contact to get the paperwork for articles of organization??
Click on this link and then click on Limited Liability Companies then look under the name column for DL. And I was wrong it is $165.
http://www.kssos.org/forms/forms_results.asp?division=BS[ Edited by TomStewart on Date 04/18/2004 ]