LLC Requirements

If you are looking to do business as a limited liability corporation LLC there are a few things I just learned that you need to do for a California LLC

1.  You need to file form LLC-1 along with a $70 filling fee. 
2.  Within 90 days you need to file form LLC-12 along with a $10 fee.  If you want to obtain an LLC outside of California for asset protection there is a seperate form you have to fill out.
3.  Right after you file the LLC-12 form you need to draft an operating agreement that will difine the rights of the owners, the powers that are delegated, and the duties of members and managers.  There is a list of tax information that you need to look over at www.irs.gov

Taxes on an LLC
1.  $800 annual fee with the franchise tax board
2.  additional fee based on all sources of income. 
If you gross less than $250,000 then you are exempt from this fee
If you gross more than $250,000 then you can pay fines up to $4,500 annually. 

These are just a few things I learned today.  I am trying to obtain an LLC for my business that I have not yet released to the public due to protection and patents that have not been filed.  If anyone can give me more information on obtaining an LLC in California without having to pay ridiculous fees please let me know.  I have tried legalzoom.com but may need to research a little more on that site.  I've heard really good things about it though.