When creating your new enterprise, you may decide that forming an LLC is the best way to go. Limited liability companies are an excellent way to make sure that your business operates smoothly while also limiting how much liability you and other founders have regarding things like debt. However, what’s the procedure for getting started? At Gov Doc Filing, we will go over the steps required so that you can get up and running in no time.
Create an LLC Name
LLCs are not regulated by the federal government, which means that you have to register your business with the state. Each state has different requirements, so it’s imperative that you know what you have to do before you file.
One of the first things to do, however, is to register your LLC name. It can’t be identical to any other business in operation, so you may have to pick one that isn’t your first choice.
File Articles of Organization
Another requirement that states have is that you have to submit documentation about who is going to be involved in the LLC (members) and what their responsibilities are going to be. Without these articles of organization, you won’t be able to operate legally. Check your state’s regulations on what’s required for them.
Get a Tax ID
When looking at LLC tax forms, one of the most critical is getting an employer ID number (EIN). This number will allow you to hire employees and open a business bank account, and most states require an EIN for LLCs, even if they have just one member. You can file for a Tax ID online and get it within hours.
Obtain Licenses and Permits
Once you have your EIN, then you can start to get all of your necessary business licenses. Again, these vary by state, so check to be sure that you’re getting all of the paperwork required before opening to the public.
Overall, forming an LLC is an excellent way to get your business off the ground, but be sure that you know all of the requirements of your state before you begin.