Forums: Discussions for entrepreneurs and small business.

Hello, I'm new to the forums, but have been listening to podcasts for several months now.  I've got an engineering background, with no formal business education.  Just a strong entreprenuurial spirit.

Anyway, I'm working to establish my company as an LLC and need some advice here.

Info about me and my company: Sole-proprieter, small business, selling a product on the internet, no actual storefront ("garage" based business).

I was previously set up as a DBA two years ago, no real income, then this year I've been actively working on the business and things have taken off.  Now want to make it more official and protect myself by forming an LLC.  I was going to go the Legal Zoom route, but since I've taken some steps myself, I've made it too complicated and expensive to use them, but I get the feeling that Legal Zoom is really unnecessary for me.

Problems/current issues:

My EIN was for the DBA company, so what I understand now is that I simply need to write to the IRS, give them the old name "Advanced Motorsport Technologies" and what the new name "AMT Engineering LLC" will be.  I also need to fill out an address change form, which is fairly simple.

LLC formation with the state.  I went into this blindly and accidentally set up a corporation yesterday, but I've already contacted the Indiana SOS and just need to fill out a small 2 page form "Conversion of a Corporation into a Limited Liability Company" and pay $30 to get it sorted out.  Does everything sound sensible so far?

Now, do I need LegalZoom for anything?  I am assuming most of the other stuff in their package can be found for free on the internet.  Please correct me if I'm wrong.  The things they also include, but I have no idea if I need them are:

Filing articles of Organization.

Customized Operating Agreement.

Indemnification Clause

Restrictions on Transfer

Company Resolution for Banking

So, with me being a sole-proprieter and handling everything myself, do I need any of the additional items?  And if I do, can I get some templates/sample forms for free somewhere?  For legal reasons, should I include my wife in documents, or does that greatly complicate things?  If you haven't caught on, I'm trying to do as much by myself as possible and inexpensively.

Thanks in advance for any and all help.  I look forward to participating in these forums to get things going and to help grow my company and market it.

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The bare minimum you need is Articles of Organization, but I believe that's what you receive once you register with the state (I am not a lawyer, btw). All the other things that LegalZoom offers are not necessary in your case, but are nice to have.

Since you already registered with the state, you cannot register again at LegalZoom, as far as I know.

I did a quick google search and found this website which deals with LLCs in Indiana. This is not my website. http://www.easyindianallc.com/

Just browsing there I found a few samples of the forms needed.

 

Hope this helps,

Haris.

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