What is the cost of forming a business?

Forming a business in Georgia can have many costs associated with it. Depending on the type of business entity that you are forming, these costs can range from minimal to substantial. Generally, the fees associated with forming a business can include things such as name reservations, registration and filing fees, and possibly legal or professional fees. If you decide to form a Limited Liability Company (LLC), you will need to file articles of organization with the Secretary of State. The filing fee for an LLC is currently $100. On top of that, there is an annual registration fee of $50 due each year with the Secretary of State. For a corporation, the filing fee for the articles of incorporation is currently $100. If the corporation issues stock, you may be required to pay additional fees, depending on the number of shares the corporation will have. In addition, the corporation must pay an annual registration fee of $50. Further, if you are forming a business with a partner or multiple partners, you may want to consider an operating agreement to help outline everyone’s duties and responsibilities. Depending on the complexity of the agreement, you may need to pay a legal or professional fee to create the document. Overall, the cost of forming a business in Georgia can range from minimal to substantial, depending on the type of entity you are forming, and the complexity of the business structure.

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