Jason VanOver did some research on starting an L.L.C. for the club.
It is possible but we will incur cost.
It will only cost about $50.00. We will be subject to filling taxes every year. We will owe taxes every year. We will more than likely have to pay someone to file our taxes for us. I am estimating taxes, fees, and services will be about $500-$1000 per year.
That being said. I am currently leaning against an L.L.C. right now. I feel that this should be a long term goal of the club. Our budget and spending is less than $3000.00 per year. Why incur more expenses.? The checking account is currently under my social security number. When a new treasurer takes over (it will happen someday) they can just do what I did. Open a new checking account under their social.
If our budget reaches upwards of $10,000 per year we should become an L.L.C. I believe that one day we may be that big but until then my vote is we shouldn't change our current structure.
Sorry for the long post.
Take care everyone.