How much does it cost to incorporate?

Question

I'm a landlord and I think I should incorporate. What all would it cost me?

Is it just as simple as buying the thing off a company like legal zoom and mailing it in?

Is there a free copy of the documents I need to fill out?

Answer 1

     First, why do you "think' you should incorporate?  

     Incorporation requires mandatory state filings, mandatory IRS filings of any "earnings" of the corporation...not to mention separate bank accounts, licensing etc....  

     Before you go looking for trouble, consult with a local attorney and/or a friend who knows something about incorporation, and then go from there.  Incorporating a business is not hard, nor does it cost a lot, but you really should make sure it's what you need before you take that step.

    Most states have a "Dept. of State"  or a state agency that accepts/maintains corporate records.  Contact these departments for help with any filings.  You can get forms online for a small amount and the forms are usually self-explanatory and easy to fill out.  You should just make sure that you need to incorporate before going in that direction.

   If the problem is one of personal liability...a insurance policy with good limits might work just as well.

    Jack

  

Answer 2

It shouldn't cost you more than a couple hundred dollars if you go to your state's secretary of state website.  The only trouble in doing it yourself is you may not understand some of the forms.  I know most SOS offices are pretty helpful so they can probably guide you but if you would feel more secure in hiring someone, it will be worth the money to not have the headache.  Check our your SOS website though for your state and see what it involves.  Good luck!

Answer 3

In addition to any fees for preparing the documents, all states charge a fee for filing your articles of incorporation, and require annual reports as well.  IIRC in Mass, where I am, it's 250 for the former and 125 for the latter.  It'll vary by state, however.