So it seems that you and your friends have been thinking over a scalar business ideas for many years now. Was it since you graduated from your college and started off with your full-time day job? Do you think that the of you are currently ready to explore the world of business by putting in a lot of effort and monetary resources in order to make you dream come true? Who wishes to leave your solid business idea at the nascent stage? Perhaps none! So, what are you waiting for? Are you confused about the steps that you need to form an LLC?
Starting a business is indeed a big financial risk as a prospective business owner will never want to put his home, car and personal belongings at risk due to non-payment of bills. Being able to safeguard your personal assets is one of the biggest benefits of starting an LLC. So, here are the steps that you need to take to start your own LLC.
- Decide where you should start your LLC
The life of your LLC begins whenever you start filing articles of organization with the department of state government or the secretary of state. Keep in mind that the federal government doesn’t charter corporations or LLCs. There are few factors which should influence your decision on which state can be the best for your LLC. The factors may include the states in which the business operates, annual filing fees and reporting requirements, initial LLC filing fees, annual filing fees and reporting requirements. In case your business is small and it operates in just one state, you should organize the LLC in only 1 state where you run your business.
- Select the name of your LLC
During the organization process, the foremost task you need to do is to choose a name for the LLC that you’re creating. You should also understand that you have to use a trade name in the marketplace apart from the name of your LLC.Perhaps the greatest consideration before choosing a name is that no other entity or person should be presently using the same name. You may search for present trademarks and other LLC names to make sure that the name that you want is available.
- Choose the registered agent
When it is about a registered agent, it is an individual or an entity who is obligated to accept all sorts of legal documents and papers on behalf of the LLC. As an LLC is not a person, the legal papers on an LLC without some representative who will designate everything is something impossible. The agent who is registered will be identified with the articles of the organization but he can be changed typically by filing a notice with the secretary of state.
Therefore, if you’re still confused about whether or not you should start your own LLC, take into account the above steps mentioned as they are the few basic steps that need to be covered.