A corporate structure whereby the corporation members are not personally liable for the liabilities and debts of the company is called an LLC. The limited liability companies combine the characteristics of a corporation, sole proprietorship and a partnership that is why the LLC are called the hybrid entities. One of the main advantages of LLC is that the owners are liable for the debt of the business to the extent of their financial investment in it. You want to start a limited liability company then it is better to do some research before. How To Apply For An LLC? Well, registering your business as LLC is not that complex.
Apply For A Limited Liability Company?
Each state has slightly different guidelines when it comes to starting a limited liability company. If you have decided to start a limited liability company, then you should gather specific information from your state’s business bureau. Below are the guidelines that will help you in LLC Application:
- Choose the name of the company:
Of course, you have to choose the company name first of all. Without deciding the name of your company, you cannot fulfill further requirements. One thing that is necessary to mention here is that your company’s name must comply with the rules of your state’s Limited Liability Company Division.
- File articles of organization:
After setting the name of the company, you have to file articles of organization. You have to prepare and file the articles of organization with your state’s LLC filing office. It is the certificate of formation, and in some state’s it is considered as the basic document required to create a limited liability company.
- LLC operating agreement:
Then create the LLC operating agreement in which you have to set out the rules for the operation and ownership. In LLC operating agreement you will include:
- The percentage of interest of the members
- The members voting power
- How LLC will be managed
- The rights and responsibilities of members
- Rules regarding meetings and voting power etc
There are many other important things that are essential to be included in the articles of organization.
In some states, it is essential to publish a notice in order to make the company official. After completing all the requirements you get the legal permission to start the business operations of your LLC Tax Form.
