Each state varies when it comes to LLC filing and formation fees. Naturally, when starting a business, you don’t want all of your funds to go into filing for the business, but these are required and important costs. Here are some upfront and recurring fees that vary by state you’ll need to account for:
- Filing Articles of Organization or Certificate of Formation ($50-25)
- Selecting and Reserving an LLC name ($10-$50): Please note that you can reserve a name for a couple of months beforehand by submitting a filing name reservation application to avoid the cost upfront before you file your Articles of Organization
- Fictitious Name or DBA name ($10-$200): If you want to operate your LLC under a different name known as a fictitious business name, assumed name or “doing business as” DBA name, then you will have to pay a filing fee from $10-200 depending on the states requirements.
- Business licenses for federal, state, and local ($50-$100): Renewal fees can be anywhere from $20 to $100 every year
- Minimum annual LLC taxes (dependent on stage from $100-$800)
- Annual report filing fee ($20-$100)
- Registered agent fee ($100-$300)
Now, you must be wondering, that’s all great, but what about just filing my LLC, what can I expect? We’d say around $40-$500 depending on the state. Normally, individuals will hire an LLC formation service while others may choose to do it themselves. If you hire a service, you may pay a small fee, so make sure to budget that into your costs.
By the way, there is another option. You can start an LLC, open a business bank account, and manage your contributions through Tribevest. If you want to learn more about it, check out our pricing and features.