Guide to Filing a Limited Liability Company
If you have an idea that you’d like to turn into a business, it’s important to follow the correct procedures. There are many risks of running a business. For example, if the company is debt, your personal belongings and assets can be gathered and auctioned to settle the debt. Of course, this may not have been what you planned for when you started your business. For this reason, it is critical to protect your personal assets when setting up a business. Creating an LLC is one of the ways in which you can protect your assets.
If you want to start a limited liability company, there are a number of requirements you have to meet. The requirements you will have to fulfill will depend on where you want to register your business. It is important to get advice from a qualified accountant and attorney to determine the specific requirements you have to fulfill. Among the requirements is an operating agreement. This agreement indicates everything about the liability status of your company. The agreement also indicates how finances are handled and management issues handled.
You do not specifically need an LLC to start a business. In fact, an LLC is just one of the multiple business entities you can form. However, for most people, LLCs make sense due to different reasons.
How to Form an LLC Business
To register a limited liability company, you will need a name for your business. The name you choose should have the letters “LLC” or a variation of it at the end. The business name you select should not already be registered by another person. For a small fee, a company formation service firm can perform an LLC business name search for you. Within 24 hours, you will know whether the business name you want to use is available for registration.
You can register any business name that is not currently registered by another individual. The business name registration can be done in person at the state’s trade offices or at their website. There are also companies that can help you file an LLC online. The companies can handle the business registration process fast. Such companies will help you save time and avoid common mistakes most people make when forming LLCs.
Another requirement for forming an LLC is the Articles of Organization. These documents will have to be filed with the relevant authorities in your state. The Operation Agreement will also have to be signed. The last step would be to get the license of your newly formed limited liability company.
You can get your LLC registered within 24 hours if you use an LLC formation company.