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View Full Version : Anyone formed an LLC?



noobii
11-17-2013, 03:20 PM
Say you started this out as a hobby but got serious enough to take this up a notch, is it feasible/reasonable to get yourself involved in a much more painstaking approach(entity legal-wise) if you aren't generating revenue or trying to?

What are the pros and cons of forming an LLC (besides protecting yourself from licensing)? Is it even worth it?

Lmarrie
11-17-2013, 06:52 PM
I formed an LLC that incorporates my station, but I would advise you check out the SBA, your state comptroller and other expert sites like entrepreneur.com to determine if this is right for you and your business. You may also want to talk to a lawyer and accountant. What do you mean protect you from licensing? You still need a business license (if applicable) if you form an LLC and you also still need applicable stream licensing.

noobii
11-17-2013, 07:51 PM
Thanks for the reply. Maybe I wasn't clear enough but what I'm asking is for your opinion instead of how to form an LLC.

How has incorporating the station benefited you? Tax? Having it incorporated into a real legitimate business, does it take you away from what you enjoy doing?

Lmarrie
11-20-2013, 02:24 AM
I only registered this year so not sure about tax benefits at this point but the main reason is liability issues related to some other things I do. My station is a part of the business I registered and not an LLC on it's own.

As I stated before the best opinion on pros and cons would come from a legal or tax professional.