I've had an LLC for the past 5 years. I started it and was 100% self employed for almost a year, then it was dormant as took another job, then active for a while, then dormant, etc. Off and on. It has been dormant for the past 2 years and I misplaced the franchise tax statement last year so that didn't get done. All I had to do was file a zero income statement and I neglected to do that. Now my LLC has been forfeited. I need an LLC now as I need a fallback plan in case I lose my job (company is downsizing). I've looked into getting my LLC reinstated and it looks like it is going to take a lot of paperwork and time waiting.

I'm considering starting a new LLC instead. It seems like it would be faster. I didn't like the name of my old LLC. It was too narrow (xxxxxx industrial machine service). I would like to have a new name that is less limiting, allowing me to branch out and do things that people wouldn't automatically count me out because the name of my company implies I'm not the right fit for the job.

So my options that I'm aware of are:
1. Do all the paperwork to revive my LLC, then do more paperwork to obtain a DBA for a new company name.
2. Start a new LLC.

The only thing keeping me from jumping all over #2 is that I don't know what I'm doing. I paid an attorney >$2k to establish my LLC first time around because I wasn't comfortable doing it myself, and I'm still not. I don't want to screw it up. I don't have another $2k laying around to go through that again. There are lots of online LLC websites advertising "LLC in 10 minutes" or "start your LLC for only $49."

You guys have any luck with those websites? Or did you do it yourself? Am I making too big a deal out of it? Or did you use an attorney?

 

I assume this is the same as Incorporating here in Canada.
I had two at one time, the first I employed a lawyer, I saw how relatively easy it was and did the second myself.
Max.

 

The only thing keeping me from jumping all over #2 is that I don't know what I'm doing. I paid an attorney >$2k to establish my LLC first time around because I wasn't comfortable doing it myself, and I'm still not. I don't want to screw it up. I don't have another $2k laying around to go through that again. There are lots of online LLC websites advertising "LLC in 10 minutes" or "start your LLC for only $49."

My experience is only with Illinois, but I wouldn't even pay $49 for whatever it is they might do for you. It's a form to fill out and file and it's nuisance but that's about it. The worst part by far is the fee. That was a few hundred dollars in Illinois, I forget the exact amount.

I have looked into the Texas LLC process a little (because I have a friend there and we were toying with the idea of which state it might be better to incorporate in) and as far as I could tell from a cursory look, the Texas process is a lot like the one in Illinois. A little cheaper.

Reviving an old LLC that you don't care for anyway seems like a waste of effort.

 

I've started digging into doing my own LLC and in doing so, found out that in TX, you can do a veteran-owned LLC (no option for that on the LLC sites), which affords you some minor benefits. Best part is, none of those pesky franchise tax statements that got my 1st LLC shut down. I sent off the request for the required honorable discharge verification (not sure why my DD214 isn't proof enough) so in 7-10 business days I'll be starting the process.

I don't know why dealing with the government makes me so nervous. The process seems so simple but my mind is brought to a grumbling halt, paralyzed by the fear of not crossing an I or dotting a T, and getting trapped in paperwork limbo, unable to move forward or back. I blow it up into something it probably isn't, and get myself to a point I would rather pay $2k for someone else to do 2hrs worth of work than to do it myself.

But this is me trying to get past that and stand on my own 2 feet. I've taken the 1st step.

 

Outstanding! I already got my service verification letter back from the Texas Veterans Commission! 7-10 business days, ha! That took <2hrs. No more excuses to procrastinate.... except the holiday road trip I'm about to leave on.

 

Good luck!
Or may be luck doesn't enter into it.
Max.

 

Thank you @MaxHeadRoom

 

Michigan used to have a rule that said all officers must have up-to-date business registrations or officially closed registrations before becoming part of a new registration. That rule was changed more than 10 years ago in Michigan but our lawyer said it still exists in some states, I didn't ask which ones Because our team was all up to date and we were always trying to minimize legal costs so we had a "no chit-chat with the attorney policy". If Texas does have such a rule, there is likely a line-item requesting info on past business registrations. If they don't ask, don't tell.

 

Nice ... No Texas tax due for the first five years as a veteran and no tax due if gross receipts is under $1,110,000 or whatever the future figure is.

So ... I hope you keep the gross receipts under the no tax due figures.

 

Nice ... No Texas tax due for the first five years as a veteran and no tax due if gross receipts is under $1,110,000 or whatever the future figure is.

So ... I hope you keep the gross receipts under the no tax due figures.

If I break 1.1M gross that means 1.1M profit, given my current business model. I own all my tools and software personally and I offer a service, no goods currently. So if that happens, it means something went awry in a very good way. I doubt that will happen.

 

If I break 1.1M gross that means 1.1M profit, given my current business model. I own all my tools and software personally and I offer a service, no goods currently. So if that happens, it means something went awry in a very good way. I doubt that will happen.

That's what I figured. All service. Only expense is new equipment. Yeah, you'll be doing well if you gross 1.1 ... It's nice to know TX won't be coming after tax money till you start making "real" money.

 

Alright guys, 2 weeks later, it's for real. Free LLC.












(Yes, I literally named my company strantor)

 

Alright guys, 2 weeks later, it's for real. Free LLC.



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(Yes, I literally named my company strantor)

Catchy name! ... ... good luck in your new venture, my friend

 

Catchy name! ... ... good luck in your new venture, my friend

Thanks.
I think the name will be hard to forget. And if anyone asks about the name and I explain, it will be impossible to forget.

And if a customer gets curious and Googles "strantor" they will find a bunch of posts from me, all across the internet, being super helpful and sometimes knowledgeable LOL. Or they will find my off topic opinions. Hopefully they agree with my opinions.

 

Nice .... glad you capitalized on your hard earned brand .... strantor.

Good luck in you future endeavors and we hope you still have time for good ol' AAC.

 

Nice .... glad you capitalized on your hard earned brand .... strantor.

Good luck in you future endeavors and we hope you still have time for good ol' AAC.

Yeah... it will be a test for him to say hello to us mere mortals who hang around the water cooler...

 

Don't worry guys I'm not going anywhere.

 

I never said he would vanish, but he could have a diminished presence.