Step 1: Naming the LLC
An LLC is required to have a unique, distinguishable name. It is important to pick a name that is in tune with the state naming requirements and one that is effectively accessible by customers.
Guidelines to follow
- Name of the company must compulsorily include limited liability company or any of its short forms like LLC or L.L.C.
- The name has to exclude words that could lead to the LLC being mistaken for an administrative organization or a state government agency like Treasury, FBI, State Department, and others.
- Restricted words which may have other connotations would require extra paperwork and an authorized specialist or legal expert to be a part of the LLC.
Check for accessibility of name in the state of Ohio by running a name search.
Names can be reserved for 180 days. You should file the reservation of name application along with a fee of $50. This can be done both online or by mail.
Check if the URL is Accessible?
It is recommended that you check for accessibility of the name in the web domain of Ohio. Once you register with your Domain, Google G-Suite offers you Professional and Business Email Services.
Check Your Domain Availability
Once you register with your Domain, Google G Suite offers you Professional and Business Email Services.
Step 2: Selecting a Registered Agent
You should get or assign an agent for process service. These registered agents are those corporations or individuals who are authorized to do business in a state and have a permanent address in Ohio. A registered agent is one who has the consent to get lawful papers and work in the interest of the LLC.
What is a Registered Agent?
A Registered Agent is a man or business that consents to send and get lawful papers in the interest of your LLC. Such papers have the service of legal action if one is used and multiple state filings.
Step 3: Filing a Certificate of Formation
One should then go for filing the Certificate of a formation. This can be done online or by mail. One also has to file the following information –
- LLC name
- Name address and other details
All these documents must be submitted along with a filing fee of $125. The processing time can be reduced as per additional payment.
| Filing Online|
File by Mail
For the usual processing one can take 3-7 business days. It depends on document volume and other expedited processing factors.
Step 4: Creating an Operating Agreement
Though LLC in Ohio technically does not need an operating agreement, it is advisable to have one. It can be helpful if the number of people in the LLC is more than one. The state of Ohio recognizes operating agreements as documents that can govern.
Step 5: Obtaining an EIN
Procuring an employer identification number for the purpose of identifying a business entity is important. This can be defined as a social security number.
- For federal tax purposes
- To open a business bank account
- To hire employees
Request an EIN from IRS
Step 6: Steps one should do after forming a business:
LLCs in Ohio are treated like corporations, single-member LLC or partnerships. They are subject to federal tax classifications. Depending on the type of taxation, one will have different federal tax responsibilities. One should make sure to be acquainted with the various state laws regarding taxation for more clarity and purpose.
Open a Business Bank Account:
This will help you keep your personal information and account details secure and protect your privacy. It also keeps you safe and does not mix your own account with a business account. This reduces danger when your LLC issued (if that happens).
Have a well-managed accounting system:
- Simplify tax and legal filings
- Track income and business money
- Work in sync with a bank account
One should Obtain Permits and Licenses:
To effectively operate an LLC, you need to work with certain federal, state and various regulators. Some of whom may charge some fees or take a few training classes. Taking professional service and putting in some research is important to fulfill the right licensing requirements.
Business insurance is important to help you manage risk and have focused on growth. Common types are-
- General liability insurance
- Professional liability insurance
- Workers compensation insurance
Follow the Right Laws:
While hiring any employees, one should stay compliant with the law
- Verify if the employee has a legal working state in the US
- Report them to the state as new employees
- Withhold employee taxes
- Provide employee compensation insurance
Best Registered Agents Comparison
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