Forming a business license / LLC for YouTube Channel

LukeLuke7

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I started a YouTube channel with some buddies and its starting to get big. It's a prank channel.

Do popular YouTube channels form LLCs or get any business licenses? We're going to partner soon working on a contract with fullscreen.

We were worried about liability. Everyone in our videos we get there verbal consent to put them in the video. But just in case someone sues us or something, we dont want them to sue us personally but to sue the company which would barely have any money.

What do other YouTubers do? Do we have a worry about liability? Do other YouTube channels form LLCs? What's the best thing for us to do?

Thanks

BTW, if you want to check out our channel it's-
whateverYT1
 

Flammy

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Have no idea what people do, but I'd really really recommend not taking legal advice from the internet. Also you don't have to enter a youtube username in your profile, you should edit rather than leave a fake one. I left mine blank for a while.

also depends on where you are. US presumably?
 
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LukeLuke7

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Have no idea what people do, but I'd really really recommend not taking legal advice from the internet. Also you don't have to enter a youtube username in your profile, you should edit rather than leave a fake one. I left mine blank for a while.

also depends on where you are. US presumably?
agreed we're going to see a lawyer / an accountant and get professional advice. I just want to see what everyone else does / whats typical. I think one of my youtube partners has an account here it didnt let me make an account with our actual youtube username.

Yeah, we're in the US. We're in CA.
 

ghostlyrich

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with me i dont have to worry but if you pull a prank and some one gets injured or has a heart attack yea you could get in s**t so business insurance could cover you a** just in case s**t goes wrong
 

Gabriel

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Becoming a Limited liability company doesn't count you out from being sued nor does having no money in your company bank account?.. You would only have no liability for the persons actions if they signed a legal contract with those terms as far as I am aware.
 

LukeLuke7

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Noone will be injured with the pranks we're doing. So do any youtubers form LLCs or any businesses?
 

Flammy

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Noone will be injured with the pranks we're doing. So do any youtubers form LLCs or any businesses?
Be careful about that. Lots of different 'injury' - mental anguish, damage to reputation after video was uploaded...
 

LukeLuke7

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Be careful about that. Lots of different 'injury' - mental anguish, damage to reputation after video was uploaded...
True. So do lots of big youtubers have LLCs or something to help out with liability etc.? What's typical?
 

Wreckless Eating

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I would think that nearly all big youtubers have a business license-and some will form LLCs. A business license makes it easier to pay staff and deduct expenses from what the company is earning. If you guys are just starting out, your ability to form an LLC may be limited by how expensive it is. If you form an LLC in the state of California, the paperwork/filing is only about $150-200 total, but you also need to pay a minimum annual LLC tax of $800, which means you're looking at $1k or more just to get started. You may want to look into filing in Nevada. There's no annual tax, but there's an annual filing fee of $125. I think the cost to file is roughly the same as California.

You may want to start getting signed waivers for people who appear in your videos. Verbal consent won't hold up in court if someone changes their mind about being on camera.
 

AreYouAwareBro

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True. So do lots of big youtubers have LLCs or something to help out with liability etc.? What's typical?
Hey brother I sent you a message but maybe you are not familiar with the inbox on the forums. Anyways, what wireless lapel/lavalier mic are you guys using?