Setting up an LLC with a partner

[Regina Jones]

I need to set up my LLC, I have a partner what is the best way to start?

[Daniel Hyman]

@Regina Jones

Basically, the process is to set up an LLC with the state, apply for an EIN, and then open a bank account with the new EIN.

You could set up the LLC yourself, but I recommend hiring an attorney to set it up for you. An attorney will help you with an operating agreement as well.

Make sure to consult with a CPA on the tax implications of a multi-member LLC.

Good luck!