Can I be my own registered agent?

Yes — most states allow it if you have a physical street address in the state and are available during business hours. Drawbacks: your home address becomes public record; you must be present at the address during business hours to accept service of process (a lawsuit filing). Commercial registered agent services ($100-$300/year) solve both problems and are strongly recommended.

Do I need an attorney to form an LLC?

For a simple single-state, single- or two-member LLC with no outside investors and standard activity, online services or DIY formation with a good operating agreement template is usually sufficient. Hire an attorney if: you have outside investors, real estate, multiple states, regulated industry (medical, financial services, cannabis), international owners, or expected revenue above $500K/year.

What's the cheapest state to form an LLC?

For pure filing fees: New Mexico ($50), Wyoming ($100), Kentucky ($40). But this matters less than state of operations — if you operate in California, you owe California $800/year regardless of where you "form." For most operating businesses, form in your state of primary operations to avoid foreign-LLC registration in your operating state.

Do I have to file the BOI report?

Most LLCs do, under the Corporate Transparency Act enforced by FinCEN. As of late 2024, court rulings have created compliance uncertainty — some courts have enjoined enforcement, but the rules technically remain in place. Check FinCEN.gov for current status before forming. Filing takes 10-30 minutes at boiefiling.fincen.gov; it's free, and the penalty for missing it is $500/day up to $10,000 plus prison time.

LLC Formation Checklist

Step-by-step checklist for forming an LLC — name reservation, articles, EIN, operating agreement, banking, licenses, and ongoing compliance.

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LLC FORMATION CHECKLIST

Prepared: May 7, 2026
Proposed LLC: Riverstone Ventures LLC
State of Formation: Delaware
Target Launch: May 7, 2026
Members: 2
Estimated First-Year Revenue: $150,000–$300,000

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PHASE 1 — PRE-FORMATION (1-2 weeks before filing)
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[ ] 1.1  Choose state of formation
        Default: state of primary operations.
        Delaware advantage: best LLC case law, Chancery Court, investor-preferred.
        Wyoming/Nevada/South Dakota: no state income tax, lower fees,
        but no advantage if you operate elsewhere ("foreign LLC"
        registration in your operating state cancels the savings).

[ ] 1.2  Name search and reservation
        Primary:    Riverstone Ventures LLC
        Alternate 1: Riverstone Holdings LLC
        Alternate 2: Riverstone Group LLC
        Search:
          a. State Secretary of State business-entity database (free).
          b. USPTO trademark database (TESS) for federal conflicts.
          c. Domain availability (.com primary; .io/.co backup).
          d. Social handles (LinkedIn, X, Instagram).
        Reserve name: most states allow 60-120 day reservation
        for $10-50 if you're not ready to file.

[ ] 1.3  Choose registered agent
        Selection: Northwest Registered Agent LLC ($125/yr)
        Requirements: must have physical street address in state of
        formation; available business hours to accept service of process.
        Options:
          a. Yourself (free, but home address becomes public record).
          b. Commercial service ($100-$300/year — recommended).
        Top services: Northwest Registered Agent, ZenBusiness, Harbor Compliance.

[ ] 1.4  Determine ownership percentages and capital contributions
        Member %s should sum to 100.
        Capital can be cash, property, services (with caution), or future commitments.
        Document capital contributions IN WRITING before filing.

[ ] 1.5  Decide management structure
        Member-managed (default — all members run day-to-day).
        Manager-managed (designated manager or hired CEO).
        Most small LLCs are member-managed. Manager-managed is
        common when investors hold interests but don't operate.

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PHASE 2 — FILING (Days 1-7)
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[ ] 2.1  File Articles of Organization (or Certificate of Formation)
        Filed with: Delaware Secretary of State.
        Typical fee: $50-$500 (CA $70 + $800 minimum franchise tax;
        DE $90; NY $200 + publication; WY $100; FL $125; TX $300).
        Online filing typical; processing 1-15 business days
        (rush available for additional fee in most states).

[ ] 2.2  Required Articles content
        a. LLC name (must include LLC, L.L.C., or Limited Liability Company).
        b. Principal office address.
        c. Registered agent name and address.
        d. Member-managed vs. manager-managed.
        e. Effective date (default = filing date; may delay up to 90 days).
        f. Organizer signature.

[ ] 2.3  Save the filed Certificate
        Download/print the state-stamped Certificate of Formation —
        you'll need it for EIN, banking, and contracts.

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PHASE 3 — POST-FORMATION (Days 7-30)
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[ ] 3.1  Apply for EIN (Federal Employer Identification Number)
        IRS Form SS-4 — apply online (irs.gov) for instant EIN.
        Free. Required for: opening bank account, hiring employees,
        filing taxes, opening business credit.
        Single-member LLC without employees CAN use owner's SSN
        but EIN is strongly recommended for asset-protection separation.

[ ] 3.2  Draft and sign Operating Agreement
        Multi-member: full operating-agreement-llc template.
        Single-member: single-member-llc-operating-agreement template.
        Required by law in: DE, CA, ME, MO, NY.
        Strongly recommended in all states.
        ALL members must sign. Spouses should sign spousal consent
        in community-property states (AZ, CA, ID, LA, NV, NM, TX, WA, WI).

[ ] 3.3  Open business bank account
        Bring: Filed Articles, EIN letter (CP-575), Operating Agreement,
        all members' photo IDs.
        Why critical: commingling personal and business funds is the
        #1 way courts pierce the LLC veil and impose personal liability.
        Get separate business credit/debit card on day one.

[ ] 3.4  Decide S-corp election (Form 2553)
        Default: partnership (Form 1065 + K-1s).
        S-corp election: file IRS Form 2553 within 75 days of formation
        OR by March 15 for current calendar year.
        S-corp benefits emerge when active-member income exceeds
        ~$70-80K/year (saves self-employment tax).
        Drawbacks: payroll required, reasonable-compensation rules,
        more complex tax filing.

[ ] 3.5  State tax registration
        Sales tax permit (if selling tangible goods or taxable services).
        Employer accounts (if hiring): state income tax withholding,
        unemployment insurance, workers' comp.
        Some states (CA, NY) require initial business statement filing
        within 90 days of formation.

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PHASE 4 — LICENSES, INSURANCE, AND COMPLIANCE (Days 14-60)
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[ ] 4.1  Federal licenses (if applicable)
        Most small businesses need none. Check if you're in a regulated
        industry: agriculture, alcohol, aviation, broadcasting, firearms,
        commercial fishing, maritime transportation, mining, nuclear,
        radio/TV, transportation.

[ ] 4.2  State and local licenses
        General business license (most cities require — $25-$500/year).
        Industry-specific (contractor license, daycare, food service,
        professional services like CPA/attorney/architect/engineer).
        Home-based business permit (if working from home — many cities
        require it; some HOAs prohibit certain business activity).

[ ] 4.3  Beneficial Ownership Information (BOI) report
        REQUIRED under Corporate Transparency Act (CTA) for most LLCs.
        File with FinCEN within 90 days of formation (90 days for LLCs
        formed in 2024; 30 days starting 2025; existing pre-2024 LLCs
        had until Jan 1 2025).
        File at: boiefiling.fincen.gov — free.
        Penalty for missing: $500/day, up to $10,000 + 2 years prison.
        STATUS UPDATE: As of late 2024, court rulings have created
        compliance uncertainty — verify current FinCEN guidance.

[ ] 4.4  Insurance
        General liability ($1M minimum — $400-$1,500/year typical).
        Professional liability / E&O (consulting, services).
        Cyber liability (any business with customer PII or payment data).
        Workers' compensation (if hiring employees — required in most states).
        Commercial property (if you have inventory or equipment).
        Business owner's policy (BOP) bundles GL + property at discount.

[ ] 4.5  Set up bookkeeping
        Software: QuickBooks Online ($30-$200/mo), Xero ($15-$80/mo),
        FreshBooks ($17-$55/mo), Wave (free for basic).
        Hire a bookkeeper from year one if revenue exceeds $200K.
        Engage a CPA before first tax filing.

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PHASE 5 — ONGOING COMPLIANCE (Annual)
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[ ] 5.1  Annual report / statement of information
        Most states require annual filing ($25-$300).
        CA: $20 statement of information every 2 years + $800 minimum franchise tax.
        DE: $300 franchise tax annually (LLCs).
        NY: $25 biennial statement.
        Failure to file → entity dissolved by state. Calendar reminders.

[ ] 5.2  Tax filings
        Multi-member: Form 1065 + Schedule K-1s by March 15.
        Single-member: Schedule C with personal 1040.
        S-corp election: Form 1120-S + K-1s by March 15.
        State tax returns by state-specific deadlines.

[ ] 5.3  Operating Agreement review
        Review annually; amend after major changes (new member,
        capital contribution, distribution change, exit of member).

[ ] 5.4  Maintain corporate formalities
        Separate bank account (never commingle).
        Member meetings annually (minutes optional but recommended).
        Member-loan documentation (if any).
        File Articles of Amendment for material changes.
        Renew registered agent service.

[ ] 5.5  BOI report updates
        Any change in beneficial ownership must be reported to FinCEN
        within 30 days (until further legal clarity).

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ESTIMATED TOTAL FIRST-YEAR COST
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State filing fee:           $50–$500
Registered agent:           $100–$300
Operating agreement (DIY):  $0 (this template) or $300–$1,500 attorney
EIN:                        $0
Business bank account:      $0–$25/mo
Insurance (GL):             $400–$1,500
Bookkeeping software:       $0–$2,400
CPA (first return):         $300–$1,500
Annual report fee:          $25–$800

Typical total: $1,000–$5,000 first year, $500–$2,500 ongoing.

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Notes:
software consulting and SaaS development

This checklist is a starting point. Engage a business attorney and
CPA before filing if any of the following apply: outside investors,
real estate, multi-state operations, regulated industry, expected
revenue above $500K/year, or international owners.

About this template

Forming an LLC is a sequence of about 25 distinct actions across federal, state, and local levels. Most online LLC services market themselves around the state filing — but the filing is only step 5 of 25. The high-friction steps that DIY-formers most often miss: (1) Beneficial Ownership Information (BOI) report — required under the Corporate Transparency Act enforced by FinCEN starting 2024; missing it carries $500/day penalties up to $10,000 plus prison time, though late-2024 court rulings created compliance uncertainty (verify current FinCEN guidance); (2) Operating agreement — even in the 45 states that don't legally require one, banks and any future investor will require it, and state default rules are rarely what members actually want; (3) S-corp election timing — IRS Form 2553 must be filed within 75 days of LLC formation OR by March 15 to be effective for the current tax year; many LLCs miss this and lose self-employment tax savings for an entire year; (4) Spousal consent in community-property states (AZ, CA, ID, LA, NV, NM, TX, WA, WI) — without it, a member's spouse may have community-property claim on the LLC interest, which can blow up the LLC during divorce; (5) Initial state filings — California requires Statement of Information within 90 days; Texas, New York, and Florida have similar early-deadline requirements that surprise new LLC owners. The most expensive mistake new LLC owners make is choosing the "best" state of formation. Wyoming, Nevada, and South Dakota have aggressive marketing about no state income tax and asset protection — but if you actually operate in California, Texas, or New York, you must register your "out-of-state" LLC as a "foreign LLC" in your operating state, paying both state's fees AND your operating state's tax. The savings only work for genuinely passive investment vehicles or e-commerce businesses with no nexus. For most operating businesses, form in your state of primary operations. Delaware is the exception — it's the default for any LLC planning outside investors because Chancery Court provides the most predictable LLC dispute resolution and VCs require it. State considerations: California has $800 minimum franchise tax (no exceptions); New York requires expensive newspaper-publication of formation in two papers ($1,000-$1,500 in NYC); Florida is fastest and cheapest of the populous states; Delaware is most expensive ($300/year franchise tax) but most predictable. Total first-year DIY cost typically runs $1,000-$5,000 including state fees, registered agent, insurance, bookkeeping software, and a CPA for the first tax return.

When to use it

Forming a new LLC for any business activity.
Converting a sole proprietorship or general partnership to an LLC.
Spinning off a new business line from an existing entity.
Forming a real estate holding LLC for investment property.
Forming a holding LLC over multiple operating subsidiaries.

What to include

State and name selection with backup names.
Articles of Organization (Certificate of Formation) filing.
Operating Agreement adoption and signing.
EIN (federal) and state tax registrations.
Business bank account and bookkeeping setup.
Federal BOI report (FinCEN) and ongoing compliance calendar.

Frequently asked

State filing: 1-15 business days standard, 1-3 days with rush (additional fee). EIN: instant when applying online via irs.gov. Operating agreement and bank account: same week. Realistic end-to-end timeline: 1-3 weeks. Most LLCs are operationally ready within 30 days.

⚠ Legal disclaimer. LLC formation requirements vary by state. Tax classification choices have significant federal and state consequences. The Corporate Transparency Act BOI reporting requirements have been subject to court challenges in late 2024 — verify current FinCEN guidance before filing. State franchise tax obligations, foreign-LLC registration, and annual reporting differ by state. This checklist is a general roadmap only; for any LLC with multiple states, real estate, regulated industry, outside investors, or expected revenue above $500K, engage a business attorney and CPA before filing. Not legal or tax advice.