How to Form an LLC or Limited Liability Company
A Limited Liability Company can be best described as a hybrid between a corporation and a partnership. It provides easy management and "pass-through" taxation (profits and losses are added to the owner(s) personal tax returns) like a Sole Proprietorship/Partnership, with the liability protection of a Corporation. Its a relatively new form of business created in Wyoming in 1977 and now recognized in all 50 States and D.C.
Like a corporation, it is a separate legal entity; unlike a corporation, there is no stock and there are fewer formalities. The owners of an LLC are called "Members", instead of "Shareholders" "Directors" and "Officers". So in essence, its a like a corporation, with less complicated taxation and stock formalities.
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The information we will need to form an LLC is:
- A Company Name and an Alternate Choice (must end with "LLC", "L.L.C." or "Limited Liability Company")
- The LLC's Business Purpose
- Your Contact and Shipping Information
- Your Business Address
- The Registered Agent Name and Address
- Type of LLC Management: Members or Managers
- Name and Address of Members or Managers
We handle the rest!
Well file your LLC formation documents with the State and ship the completed filing to you via your chosen shipping method. Yes, its that simple! We also provide you with the necessary after-llc formation paperwork including a personalized Operating Agreement, LLC Organizational Meeting Minutes, "The New LLC Handbook" and a Startup Checklist specific to your state that details tasks like getting a business license, a sales tax permit or hiring employees. See what else is included in our LLC formation packages.
More Information on Forming an LLC:
"LLC Formation" or "forming an LLC" is the process whereby you formally create a separate business entity - an official filing where you start an LLC at the state level. Depending on the state, this is accomplished by:
- Clearing your LLC business name for acceptance by comparing it with existing LLC's on file.
- Filing Artices of Organization (also known as a "Certificate of Organization") with the state's document filing office.
- Holding an Organizational Meeting (which specifies who becomes a Member or Manager and issues owneship percentage to the "owners") and adopting the LLC Operating Agreement (the rules your LLC adopts for internal governance including adding/removing members, handling disputes, etc.).
- Final Formalities: The LLC must then obtain a Federal Employer Identification Number (also known as an FEIN - we can obtain this on your behalf) and then open a bank account so LLC company funds can be managed separately. Finally, your local jurisdiction (city or county) may require your company to obtain a business license which grants the LLC authority to conduct business operations within city or county limits.