Cohousing-L Mailing List: Re: LLC, LLP, LP, LLLP

[Liz Ryan Cole (lizryancole]

Hi Sharon 

So let’s say you plan to build 15 homes that average $200K (and in these days 
that would be a huge bargain)

Why not get legal help - which might add $10K to the total cost and would 
probably save a lot more than that.

Have you had bad experiences with legal help?

Thanks

liz

> On Jun 13, 2021, at 9:35 AM, Sharon Villines via Cohousing-L <cohousing-l 
> [at] cohousing.org> wrote:
> 
> Why incorporate? It is expensive all along the way. In some states you can 
> inc. yourself easily but there are still fees. And then there are annual fees 
> and then taxes.
> 
> Sharon
> 
>> On Jun 12, 2021, at 5:47 PM, CLAIRE KEGERISE <ckegerise [at] comcast.net> 
>> wrote:
>> 
>> Newark Area Cohousing Organization (NACO) is a forming group in the Newark, 
>> DE area. We are in the process of setting up our entity. For those who have 
>> incorporated in Delaware (even if you aren't located in-state), did you 
>> choose LLC, LLP, LP, or LLLP? I'm not sure all states have the same criteria 
>> for these entity designations. I recognize the need to have a multi-member 
>> entity, I just don't know which is best/simplest. Is EVERYONE a member of 
>> the company, or just a core group? If so, do you have to file a form every 
>> time you add someone? I'm going to call the DE Division of Corporations for 
>> info, but want to also know how others handled this.
>> Thanks,
>> Claire Kegerise
>> NACO
>> ckegerise [at] comcast.net
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