My husband and I are both videographers in upstate New York. We have an opportunity to be contracted by another videographer to do the editing on several of his projects. Ideally, we'd like to set up a business so that either one of us can do the work at any given time and payments can be made to the business. We'd like to joint own the business, but we're finding the different options and requirements to be confusing to navigate and we don't know anyone personally who can guide us through this process.
Does anyone here have knowledge of starting joint businesses in New York State? We've looked into "joint ventures" but they generally require that the secondary business owner does at least 500 hours of work in the year, but we have no guarantee that we'd even get that amount of work. We're concerned about starting an LLC because of costs. The actual establishing of the LLC isn't much but apparently there's a old carryover law that requires we place ads in the newspaper for several weeks and we're not sure how much that would cost.
We just really have no idea where to start and need help! Thanks in advance for any replies.