HELP!! I'm scaring myself out of business!

[Di_in_AZ]

No Angela, it isn't misleading. I said a person COULD be personally liable (which they can) and when they would be liable. The specifics are here in this post:

"This is a description of the LLC (posted below), notice if you do something illegal, unethical or irresponsible (i.e. make a defective candle)--you ARE personally liable and the protection afforded by the LLC no longer exists. That is what I was referring to when I said that you CAN be held personally liable, to say you cannot is lulling yourself into a false sense of security."

You are telling me that you have been clearly stating in your posts that there is a chance of personal liability. I was posting in regards to this specific post--which makes it seem to the reader that if they go LLC, they are free and clear:

"Being a sole prop means that you are personally liable. If the amount of insurance you have isn't enough to cover the judgment against you, your assets are at risk. The risk is rather low because there are not many cases where chandlers are sued, but there is still a risk. Having an LLC with liability insurance means that even if the insurance doesn't cover the entire amount of the judgment against you, you personally are not liable for the debts of the LLC. Make sense?"

That is exactly what I was replying to. No where in that post is there mentioned that you could be personally liable. I said that you could be held liable, which is true. This is black and white and really not worth carrying on about. I did not miscontrue your posts, it is there and is says there is no personal liability. Pointless to continue this don't you think? At this time you are miscontruing my posts by saying that I was saying that my response was a blanket response.

[AngelaVA]

No Angela, it isn't misleading. I said a person COULD be personally liable (which they can) and when they would be liable. The specifics are here in this post:

You are telling me that you have been clearly stating in your posts that there is a chance of personal liability. I was posting in regards to this specific post--which makes it seem to the reader that if they go LLC, they are free and clear:

That is exactly what I was replying to. No where in that post is there mentioned that you could be personally liable. I said that you could be held liable, which is true. This is black and white and really not worth carrying on about. I did not miscontrue your posts, it is there and is says there is no personal liability. Pointless to continue this don't you think? At this time you are miscontruing my posts by saying that I was saying that my response was a blanket response.

I see your confusion now. The post of mine you are referring to was my answer to Ollivander's question regarding having a sole prop. vs. an LLC. My answer was short and simple because her question was short and simple. She simply wanted to know if being a sole proprietor with insurance would be enough for selling at craft shows. I responded by explaining the general difference between the two business forms. That's all. Also, your statement seemed to be a blanket statement because you did not explain how or why someone could be held personally liable. I responded to clear up that potential confusion. I don't understand why you are taking this so personally. I meant no offense by any of my posts.

[Crying Moon]

Hey summerbug....how scared are ya now?

[Oceangazer1]

Wanted to bump this up. I May be filing for an LLC. Anyone have this in the state of Florida? What is the best way to do this? I'm reading about this and my little head is spinning...is anything simple.

[MLG]

I started the process today. I live in Missouri, but I would think an LLC is an LLC. It cost me $105 to file and register my name. That is the first step. It usually takes about a week to get that cleared. Once you have this step completed, you will be able to get a tax ID number. This will allow you to open a bank account, etc. The rest of the process is just completing formalities (corporate book, minutes, signatures, etc). It shouldn't be all that expensive. I think the book should be around $100 or so. The majority of your fees will be in attorney fees. Here in Missouri it'll run you around $500 give or take a little. This process should also help you with purchasing an insurance policy (which is my struggle right now). It will also help you with your taxes.

[David Fields]

Just my opinion. But there are way too many damn lawyers in this country. They get everyone to thinking about liability, and before you know it, every company has pages and pages of disclosures and waivers you must agree to before they will deal with you. We recently had a company approach us to sell to them; but first, we had to sign a 28 page document exempting them from all liability. If you make a product that is faulty and causes damage, you are liable. Period. Regardless of having an LLC. I am old, and it used to be that your word was your bond. Sorry to see the direction our county has headed. Recently we were in Great Britain. While boarding a river boat, a US citizen tripped and fell and smashed his face. The tour guide asked him politely to please get up and move on because there were lots of other people trying to board. He told me he was surprised about this. He said in the states the boat people would have had people all over him, taking pictures and witness statements and insisting he go to the emergency room. A Brit listening in laughed and said that's America; he said lawyers don't rule Britain yet. He also advised us not to jaywalk in London because the jaywalker was at fault if he got hit with no liability to a vehicle driver. We found out that he was probably right when a bus appeared to try to run us done when we jaywalked.

[Guest OldGlory]

My ex husband and I were warned before taking to the ski slopes at a large ski resort in southern Germany to use extra caution - that if we ran into a German citizen we could be sued.

Really??