Posted on Wednesday 20 May 2009
Forming an LLC
LLCs follow a specific business structure and to maintain this categorization, companies must adhere to the structure’s requirements. These guidelines are stipulated by the offices of the secretary of state and are legally binding.
Documents Required to form and LLC
• Name: All LLCs must have an assigned name. This name should be unique and in no way depict any other business operation. This name is crossed referenced with those stored in the states data bank of registered names. Once the name is cleared, it is registered and assigned a number. Applicants then have a grace period of a couple of weeks to complete the application process. If this is not done within the prescribed time, the name will be erased from the system.
• Completed application form: The application process involves completing various forms requesting information on the proposed organization. This information includes:
o name and address of the organization
o names of the members of the LLC
o proposed life time of the LLC
o name and address of its registered agent
o stated purpose of the LLC
Upon completion, the applicant will be issued an article of incorporation.
• An attorney: Although it is not a requirement, having an attorney peruse your documents will prove beneficial to your organization. All documents acknowledge by you and certified by the state are considered legal documents and makes you liable for any situation which may arise concerning them. An attorney will ensure you have all the proper documentation and certifications to prevent all foreseeable misunderstanding.
• Processing fees: The amount charged differs from state to state. However, the final cost covers name search, and application for the processing of the article of incorporation. Total fees average $125.
• EIN: This is an employer identification number which permits the LLC to hire workers.
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forming an llc,
LLC
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