There are many websites that will charge you to set up an LLC. However, you can do it yourself in a matter of hours. Simply choose a name, complete a couple of forms and you are ready to go.
Choose a name. Check your secretary of state's website to make sure there is not another business registered with your name. You must have a unique business name within your state.
File the articles of organization. This is a simple form that also can be found on the secretary of state's website. It requires a small amount of information, including the business name, address information and names of the members. Keep a copy of the form and mail the original, with the fee, to the address on the form.
Create an operating agreement. Although this agreement is required by only some states, it is necessary to protect the rights of the members. You can find many free samples of an LLC operating agreement online. Once you find one, you can copy it into a word processing document and fill in your specific information. At a minimum, it needs to include the voting powers of each member, how the LLC will deal with profits and losses, and any buyout procedures for the members. Check to see whether your state requires you to file a copy.
Creating an LLC can have legal and tax consequences; consult a lawyer before forming one.
- Creating an LLC can have legal and tax consequences; consult a lawyer before forming one.
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