Starting your business with the right structure is crucial for long-term success. One of the most popular choices for small business owners is forming a Limited Liability Company (LLC). An LLC offers the flexibility of a partnership while providing the protection of a corporation. Here’s a simple guide to help you navigate the LLC formation process:
- Choose a Business Name
Ensure your LLC name is unique and adheres to state regulations. It must include “LLC” or “Limited Liability Company” and should not infringe on any trademarks. - File Articles of Organization
This document officially registers your LLC with the state and outlines the basic details of your business, like its name, address, and members. - Create an Operating Agreement
While not mandatory in every state, an operating agreement is essential for outlining the roles, responsibilities, and decision-making processes of your LLC members. - Apply for an EIN
An Employer Identification Number (EIN) is needed for tax purposes, opening business bank accounts, and hiring employees. - Comply with Ongoing Requirements
Stay compliant by filing annual reports, renewing licenses, and paying taxes. De Leon Consulting helps you stay on top of these obligations.
By following these steps and seeking expert guidance, you can ensure your LLC is structured for success.