It is precisely for this reason, business owners favor LLCs because they’re easy to operate. This is a more intimate type of business set-up compared to a corporation. An LLC’s profits and losses are reported on the owner’s personal tax returns and the LLC by itself doesn’t pay federal or state income taxes. If you’ve decided to form an LLC in Georgia, here are the main steps.
How to Form an LLC in Georgia
To start an LLC in the state of Georgia, please follow the following steps:
Step 1: Choosing a name for your LLC
Name your LLC
This is a very important step which can make your LLC. Choose a name which complies with the naming guidelines and requirements in Georgia.
The guidelines include:
- Your name must include the term “limited liability company,” or any of its abbreviations (LLC or L.L.C.).
- Do not include terms which could confuse it with a Government agency like the Treasury, FBI etc.
- If you choose restricted words (e.g. Bank, Attorney) you may require additional paperwork as well as a licensed individual, such as a lawyer, to be part of your LLC.
- Make sure the name is already available in the state of Georgia. Do a name search in the State of Georgia website. Check for URL availability as well.
Check Your Domain Availability
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Step 2: Registered Agent
It is necessary to nominate a Registered Agent for your Georgia LLC. Note that a Registered Agent is a person or business which is in agreement with you to send and receive legal papers on behalf of your LLC. They should be a resident of Georgia or authorized to transact business.
Step 3: File the articles of Organization
In order to register your LLC, it is necessary to file the Articles of Organization with the Georgia Corporations Division. There are two ways to do this.
- File it online with the State of Georgia
- File Here
File viaSnaill Mail
When filing by mail you must download two separate forms and ensure you submit both – Articles of Organization and Transmittal 231 Forms.
Filing cost: $100 (Nonrefundable)
Corporations Division 2
Martin Luther King Jr. Dr.
SE, Suite 313 West Tower
Atlanta, GA 30334
Processing Time: 5 to 7 business days, but maybe expedited for an additional fee.
Step 4: Create an Operating Agreement
In the state of Georgia, all LLCs are required to have an operating agreement. This is a legal document which outlines the ownership and operating procedures of an LLC. This is important since it ensures all business owners are on the same page and wavelength and reduces the risk of future conflict.
Trivia: The operating agreement is an internal document that you should keep for future reference. Do note thatmany states do legally require anLLC to have an operating agreement in place.
Step 5: Get an EIN
The Employer Identification Number is used to identify a business entity. It is basically a social security number for the company.
An LLC needs an EIN for the following reasons:
- To open a business bank account
- To hire employees for the company
- For Federal and State tax purposes
An EIN is can be obtained from the IRS, free of charge after forming the company by online registration or by mail.
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