How to Start an LLC: Complete Guide for 2024

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class="row"> <div class="row component column-splitter"> <div class="col-12 col-md-3"> <div class="row"> <div class="component link-list"> <div class="component-content"> <h6 class="language-selector-modal__country-name">Belgium</h6> <div class="language-selector-modal__page"> <span class="language-selector-modal__page-name">Home page:</span> <ul> <li> <div class="field-link"> <a href="/nl-be" data-variantfieldname="Link">Dutch</a> </div> </li> <li> <div class="field-link"> <a href="/fr-be" data-variantfieldname="Link">French</a> </div> </li> </ul> </div> </div> </div> </div> </div> <div class="col-12 col-md-3"> <div class="row"> <div class="component link-list"> <div class="component-content"> <h6 class="language-selector-modal__country-name">Czech Republic</h6> <div class="language-selector-modal__page"> <span class="language-selector-modal__page-name">Home page:</span> <ul> <li> <div class="field-link"> <a href="/cs-cz" data-variantfieldname="Link">Czech</a> </div> </li> </ul> </div> </div> </div> </div> </div> <div class="col-12 col-md-3"> <div class="row"> <div class="component link-list"> <div class="component-content"> <h6 class="language-selector-modal__country-name">Denmark</h6> <div class="language-selector-modal__page"> <span class="language-selector-modal__page-name">Home page:</span> <ul> <li> <div class="field-link"> <a href="/da-dk" data-variantfieldname="Link">Denmark</a> </div> </li> </ul> </div> </div> </div> </div> </div> <div class="col-12 col-md-3"> <div class="row"> <div class="component link-list"> <div class="component-content"> <h6 class="language-selector-modal__country-name">France</h6> <div class="language-selector-modal__page"> <span class="language-selector-modal__page-name">Home page:</span> <ul> <li> <div class="field-link"> <a href="/fr-fr" data-variantfieldname="Link">French</a> </div> </li> </ul> </div> </div> </div> </div> </div> <div class="col-12 col-md-3"> <div class="row"> <div class="component link-list"> <div class="component-content"> <h6 class="language-selector-modal__country-name">Germany</h6> <div class="language-selector-modal__page"> <span class="language-selector-modal__page-name">Home page:</span> <ul> <li> <div class="field-link"> <a href="/de-de" data-variantfieldname="Link">German</a> </div> </li> </ul> </div> </div> </div> </div> </div> <div class="col-12 col-md-3"> <div class="row"> <div class="component link-list"> <div class="component-content"> <h6 class="language-selector-modal__country-name">Hungary</h6> <div class="language-selector-modal__page"> <span class="language-selector-modal__page-name">Home page:</span> <ul> <li> <div class="field-link"> <a href="/hu-hu" data-variantfieldname="Link">Hungarian</a> </div> </li> </ul> </div> </div> </div> </div> </div> <div class="col-12 col-md-3"> <div class="row"> <div class="component link-list"> <div class="component-content"> <h6 class="language-selector-modal__country-name">Italy</h6> <div class="language-selector-modal__page"> <span class="language-selector-modal__page-name">Home page:</span> <ul> <li> <div class="field-link"> <a href="/it-it" data-variantfieldname="Link">Italian</a> </div> </li> </ul> </div> </div> </div> </div> </div> <div class="col-12 col-md-3"> <div class="row"> <div class="component link-list"> <div class="component-content"> <h6 class="language-selector-modal__country-name">Netherlands</h6> <div class="language-selector-modal__page"> <span class="language-selector-modal__page-name">Home page:</span> <ul> <li> <div class="field-link"> <a href="/nl-nl" data-variantfieldname="Link">Dutch</a> </div> </li> </ul> </div> </div> </div> </div> </div> <div class="col-12 col-md-3"> <div class="row"> <div class="component link-list"> <div class="component-content"> <h6 class="language-selector-modal__country-name">Norway</h6> <div class="language-selector-modal__page"> <span class="language-selector-modal__page-name">Home page:</span> <ul> <li> <div class="field-link"> <a href="/nb-no" data-variantfieldname="Link">Norwegian</a> </div> </li> </ul> </div> </div> </div> </div> </div> <div class="col-12 col-md-3"> <div class="row"> <div class="component link-list"> <div class="component-content"> <h6 class="language-selector-modal__country-name">Poland</h6> <div class="language-selector-modal__page"> <span class="language-selector-modal__page-name">Home page:</span> <ul> <li> <div class="field-link"> <a href="/pl-pl" data-variantfieldname="Link">Polish</a> </div> </li> </ul> </div> </div> </div> </div> </div> <div class="col-12 col-md-3"> <div class="row"> <div class="component link-list"> <div class="component-content"> <h6 class="language-selector-modal__country-name">Portugal</h6> <div class="language-selector-modal__page"> <span class="language-selector-modal__page-name">Home page:</span> <ul> <li> <div class="field-link"> <a href="/pt-pt" data-variantfieldname="Link">Portuguese</a> </div> </li> </ul> </div> </div> </div> </div> </div> <div class="col-12 col-md-3"> <div class="row"> <div class="component link-list"> <div class="component-content"> <h6 class="language-selector-modal__country-name">Romania</h6> <div class="language-selector-modal__page"> <span class="language-selector-modal__page-name">Home page:</span> <ul> <li> <div class="field-link"> <a href="/ro-ro" data-variantfieldname="Link">Romanian</a> </div> </li> </ul> </div> </div> </div> </div> </div> <div class="col-12 col-md-3"> <div class="row"> <div class="component link-list"> <div class="component-content"> <h6 class="language-selector-modal__country-name">Slovakia</h6> <div class="language-selector-modal__page"> <span class="language-selector-modal__page-name">Home page:</span> <ul> <li> <div class="field-link"> <a href="/sk-sk" data-variantfieldname="Link">Slovak</a> </div> </li> </ul> </div> </div> </div> </div> </div> <div class="col-12 col-md-3"> <div class="row"> <div class="component link-list"> <div class="component-content"> <h6 class="language-selector-modal__country-name">Spain</h6> <div class="language-selector-modal__page"> <span class="language-selector-modal__page-name">Home page:</span> <ul> <li> <div class="field-link"> <a href="/es-es" data-variantfieldname="Link">Spanish</a> </div> </li> </ul> </div> </div> </div> </div> </div> <div class="col-12 col-md-3"> <div class="row"> <div class="component link-list"> <div class="component-content"> <h6 class="language-selector-modal__country-name">Sweden</h6> <div class="language-selector-modal__page"> <span class="language-selector-modal__page-name">Home page:</span> <ul> <li> <div class="field-link"> <a href="/sv-se" data-variantfieldname="Link">Swedish</a> </div> </li> </ul> </div> </div> </div> </div> </div> <div class="col-12 col-md-3"> <div class="row"> <div class="component link-list"> <div class="component-content"> <h6 class="language-selector-modal__country-name">United Kingdom</h6> <div class="language-selector-modal__page"> <span class="language-selector-modal__page-name">Home page:</span> <ul> <li> <div class="field-link"> <a href="/en-gb" data-variantfieldname="Link">English</a> </div> </li> </ul> </div> </div> </div> </div> </div> </div> </div> </div> <div class="tab"> <div class="row"> <div class="row component column-splitter"> <div class="col-12 col-md-3"> <div class="row"> <div class="component link-list"> <div class="component-content"> <h6 class="language-selector-modal__country-name">Australia</h6> <div class="language-selector-modal__page"> <span class="language-selector-modal__page-name">Home page:</span> <ul> <li> <div class="field-link"> <a href="/en-au" data-variantfieldname="Link">English</a> </div> </li> </ul> </div> </div> </div> </div> </div> <div class="col-12 col-md-3"> <div class="row"> <div class="component link-list"> <div class="component-content"> <h6 class="language-selector-modal__country-name">China</h6> <div class="language-selector-modal__page"> <span class="language-selector-modal__page-name">Home page:</span> <ul> <li> <div class="field-link"> <a href="https://www.wolterskluwer.cn" data-variantfieldname="Link" target="_blank">Simplified Chinese</a> </div> </li> </ul> </div> </div> </div> </div> </div> <div class="col-12 col-md-3"> <div class="row"> <div class="component link-list"> <div class="component-content"> <h6 class="language-selector-modal__country-name">Hong Kong</h6> <div class="language-selector-modal__page"> <span class="language-selector-modal__page-name">Home page:</span> <ul> <li> <div class="field-link"> <a href="/en-hk" data-variantfieldname="Link">English</a> </div> </li> </ul> </div> </div> </div> </div> </div> <div class="col-12 col-md-3"> <div class="row"> <div class="component link-list"> <div class="component-content"> <h6 class="language-selector-modal__country-name">India</h6> <div class="language-selector-modal__page"> <span class="language-selector-modal__page-name">Home page:</span> <ul> <li> <div class="field-link"> <a href="/en-in" data-variantfieldname="Link">English</a> </div> </li> </ul> </div> </div> </div> </div> </div> <div class="col-12 col-md-3"> <div class="row"> <div class="component link-list"> <div class="component-content"> <h6 class="language-selector-modal__country-name">Japan</h6> <div class="language-selector-modal__page"> <span class="language-selector-modal__page-name">Home page:</span> <ul> <li> <div class="field-link"> <a href="/ja-jp" data-variantfieldname="Link">Japanese</a> </div> </li> </ul> </div> </div> </div> </div> </div> <div class="col-12 col-md-3"> <div class="row"> <div class="component link-list"> <div class="component-content"> <h6 class="language-selector-modal__country-name">Malaysia</h6> <div class="language-selector-modal__page"> <span class="language-selector-modal__page-name">Home page:</span> <ul> <li> <div class="field-link"> <a href="/en-my" data-variantfieldname="Link">English</a> </div> </li> </ul> </div> </div> </div> </div> </div> <div class="col-12 col-md-3"> <div class="row"> <div class="component link-list"> <div class="component-content"> <h6 class="language-selector-modal__country-name">New Zealand</h6> <div class="language-selector-modal__page"> <span class="language-selector-modal__page-name">Home page:</span> <ul> <li> <div class="field-link"> <a href="/en-nz" data-variantfieldname="Link">English</a> </div> </li> </ul> </div> </div> </div> </div> </div> <div class="col-12 col-md-3"> <div class="row"> <div class="component link-list"> <div class="component-content"> <h6 class="language-selector-modal__country-name">Philippines</h6> <div class="language-selector-modal__page"> <span class="language-selector-modal__page-name">Home page:</span> <ul> <li> <div class="field-link"> <a href="/en-ph" data-variantfieldname="Link">English</a> </div> </li> </ul> </div> </div> </div> </div> </div> <div class="col-12 col-md-3"> <div class="row"> <div class="component link-list"> <div class="component-content"> 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class="language-selector-modal__page-name">Home page:</span> <ul> <li> <div class="field-link"> <a href="/zh-tw" data-variantfieldname="Link">English</a> </div> </li> </ul> </div> </div> </div> </div> </div> <div class="col-12 col-md-3"> <div class="row"> <div class="component link-list"> <div class="component-content"> <h6 class="language-selector-modal__country-name">Thailand</h6> <div class="language-selector-modal__page"> <span class="language-selector-modal__page-name">Home page:</span> <ul> <li> <div class="field-link"> <a href="/th-th" data-variantfieldname="Link">English</a> </div> </li> </ul> </div> </div> </div> </div> </div> <div class="col-12 col-md-3"> <div class="row"> <div class="component link-list"> <div class="component-content"> <h6 class="language-selector-modal__country-name">Vietnam</h6> <div class="language-selector-modal__page"> <span class="language-selector-modal__page-name">Home page:</span> <ul> <li> <div class="field-link"> <a href="/vi-vn" 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class="ow-nav-level-2-view-all-link"><span>View All Expert Insights</span><span aria-hidden="true" class="wk-icon-arrow-right"></span></a> </div> </div> </div> </div> </div> </div> </div> </div> </li> <li class="ow-nav-level-1-item"> <button type="button" class="wk-button wk-button-text ow-nav-level-1-trigger"><span class="ow-nav-level-1-trigger-text">Finance</span><span aria-hidden="true" class="wk-icon-chevron-down ow-nav-level-1-chevron"></span></button> <div class="ow-primary-nav-level-2 "> <span class="primary-nav-overlay-desktop"></span> <div class="ow-primary-nav-level-2-wrapper ow-background-fill"> <div class="ow-background-fill-container"> <div class="ow-background-fill-region ow-background-fill-left"></div> <div class="ow-background-fill-region ow-background-fill-right"></div> <div class="ow-primary-nav-level-2-container ow-primary-nav-container"> <div class="ow-primary-nav-group"> <div class="ow-primary-nav-summary"> <div class="ow-primary-nav-content"> <h5 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Definition and steps on how to form an LLC</span> </li> </ol> </nav> </div> </div> </div> </div> </div> </div> </div> <div class="container-fluid"> <div > <div class="row"></div> </div> </div> </div></div></div> </div> </header>   <main> <div id="content" class="container"> <div class="row"> <div class="row"><div class="component article-header col-12"> <div class="component-content"> <div class="image field-image"><image mediaid="" stylelabs-content-id="63868" thumbnailsrc="https://contenthub.wolterskluwer.com/api/gateway/63868/thumbnail" src="https://assets.contenthub.wolterskluwer.com/api/public/content/66d9d8a99c6242ab83ed4f746298dd87" stylelabs-content-type="Image" alt="two women creating an llc" height="960" width="3840" srcset="https://assets.contenthub.wolterskluwer.com/api/public/content/66d9d8a99c6242ab83ed4f746298dd87?t=w539l 539w,https://assets.contenthub.wolterskluwer.com/api/public/content/66d9d8a99c6242ab83ed4f746298dd87?t=w767l 767w,https://assets.contenthub.wolterskluwer.com/api/public/content/66d9d8a99c6242ab83ed4f746298dd87?t=w991l 991w,https://assets.contenthub.wolterskluwer.com/api/public/content/66d9d8a99c6242ab83ed4f746298dd87?t=w1199l 1199w,https://assets.contenthub.wolterskluwer.com/api/public/content/66d9d8a99c6242ab83ed4f746298dd87?t=w1440l 1440w,https://assets.contenthub.wolterskluwer.com/api/public/content/66d9d8a99c6242ab83ed4f746298dd87?t=w1920l 1920w" loading="lazy" data-variantitemid="{25AFC2B9-5356-477F-8CD4-ED866E5ED7B9}" sizes="(max-width:539px)539px, (max-width:767px)767px, (max-width:991px)991px,(max-width:1199px)1199px,(max-width:1440px)1440px,1920px" format="" data-variantfieldname="Image" /></div><div class="container no-padding"><div class="col-lg-10 offset-lg-1 no-padding"><div class="eyebrow"><span class="interest-area field-name">Compliance</span><span class="interest-area field-name">Legal</span><span class="date field-editorial-publish-date">November 25, 2024</span></div><h1 class="title field-title">What is an LLC? Definition and steps on how to form an LLC</h1><div class="author-section"><span>By: </span><span class="author-link field-author-name" data-dm-wk="newsheader.link"><a title="dave-griswold" href="/en/experts/dave-griswold">Dave Griswold</a></span></div></div></div> </div> </div> <div class="row component column-splitter"> <div class="col-12 col-md-8 col-lg-1 sticky-wrapper"> <div class="row"> <div class="component social-share vertical col-12"> <div class="component-content"> <div class="share-sticky"><div class="share-wrapper"><div class="share-btn share-btn-linkedin" aria-label="Share on Linkedin"></div><div class="share-btn share-btn-twitter" aria-label=" Share on Twitter"></div><div class="share-btn share-btn-facebook" aria-label="Share on Facebook"></div><div class="share-btn share-btn-mail" aria-label="Share with Mail"></div><div class="share-btn share-btn-print" aria-label="Print"></div><div class="share-btn share-btn-link" aria-label="Copy Link"></div></div></div> </div> </div> </div> </div> <div class="col-12 col-md-8 col-lg-6"> <div class="row"> <div class="component row-splitter"> <div class="container-fluid"> <div > <div class="row"></div> </div> </div> <div class="container-fluid"> <div > <div class="row"> <div class="component rich-text article-text col-12"> <div class="component-content"> <p><span class="abstract">A <a href="/en/solutions/bizfilings/limited-liability-company">limited liability company (LLC)</a> is a popular choice among small business owners for the liability protection, management flexibility, and tax advantages. Set your business up for success by understanding the benefits and limitations of an LLC, how to start an LLC, where to form your LLC, and other key topics.</span></p> <p>This article covers:</p> <ul> <li><a href="#1">What is an LLC?</a> <ul> <li><a href="#1a">Benefits of forming an LLC</a></li> <li><a href="#1b">LLC considerations</a></li> </ul> </li> <li><a href="#2">How to create an LLC: Step-by-step guide</a></li> <li><a href="#3">LLC versus other entity types</a></li> <li><a href="#4">LLC state guides</a></li> <li><a href="#5">LLC resource center</a></li> <li><a href="#6">FAQs</a></li> </ul> <p><strong>Easily form your LLC with BizFilings</strong></p> </div> </div> <div class="component wkbutton primary col-12 wkbutton--green reverse indent-bottom"> <div class="component-content"> <div class="wkbutton-link field-link"><a data-variantfieldname="Link" aria-label="Get Started" href="https://secure.bizfilings.com/PackageSelect.aspx?EntityTypeId=167&IsCCorp=0&_gl=1*abye6d*_gcl_au*MTUwOTEzOTYzNi4xNzMxMzQ2NDE5*_ga*MzYyNjA2NzAwLjE3MzEzNDY0MjA.*_ga_7DJGBC7BG3*MTczMTY5NzE4OC4xOS4xLjE3MzE3MDEyMDIuMTQuMC4w" data-variantitemid="{6517C783-6001-4D7F-9348-E4BFF96A44E6}">Get Started</a></div><div class="wkbutton-wrapper"><span title="wk-icon-arrow-right" class="wkbutton-icon wk-icon-arrow-right"></span><div class="wkbutton-label field-label">Get Started</div></div> </div> </div> <div class="component rich-text article-text col-12"> <div class="component-content"> <h2><a id="1"></a>What is an LLC?</h2> <p>A limited liability company (LLC) is a business structure that offers limited liability protection and pass-through taxation. Limited liability is where the losses a business may incur are limited to the amount invested in that business. Since the LLC legally exists as a separate entity from its owners, owners cannot typically be held personally responsible for the LLC’s debts and obligations.</p> <p>The pass-through taxation of an LLC means that business income is not taxed at the entity level. Instead, any LLC income or loss as shown on its return is passed through to the owner(s). The owners, also called members, must then report the income or loss on their personal tax returns and pay any necessary tax.</p> <p>If the LLC has a single owner, the LLC can be treated as a “<a href="/en/expert-insights/what-is-a-disregarded-entity">disregarded entity</a>”. In this scenario, a tax return does not have to be filed for the LLC, only for the business owner.  </p> <p>If the LLC has more than one owner, an information tax return for the LLC must be completed in addition to the individual tax returns of the business owners. </p> </div> </div> <div class="component video"> <div class="component-content"> <div class="thumbnail-wrapper"><div class="video-thumb field-moviethumbnail"><image stylelabs-content-type="Image" mediaid="" src="https://assets.contenthub.wolterskluwer.com/api/public/content/c1b043b4a79b4ef7a3fca5acb00828e3?v=b6d2d296" height="791" alt="what is a limited liability company" stylelabs-content-id="433703" width="1919" thumbnailsrc="https://contenthub.wolterskluwer.com/api/gateway/433703/thumbnail" srcset="https://assets.contenthub.wolterskluwer.com/api/public/content/c1b043b4a79b4ef7a3fca5acb00828e3?v=b6d2d296&t=w507l 507w,https://assets.contenthub.wolterskluwer.com/api/public/content/c1b043b4a79b4ef7a3fca5acb00828e3?v=b6d2d296&t=w628l 628w,https://assets.contenthub.wolterskluwer.com/api/public/content/c1b043b4a79b4ef7a3fca5acb00828e3?v=b6d2d296&t=w634l 634w,https://assets.contenthub.wolterskluwer.com/api/public/content/c1b043b4a79b4ef7a3fca5acb00828e3?v=b6d2d296&t=w735l 735w,https://assets.contenthub.wolterskluwer.com/api/public/content/c1b043b4a79b4ef7a3fca5acb00828e3?v=b6d2d296&t=w768l 768w" loading="lazy" data-variantitemid="{35062433-8FBB-4E29-93FC-322D8B9CF00C}" sizes="(max-width:539px)507px,(max-width:767px)735px,(max-width:991px)634px,(max-width:1199px)628px,(max-width:1440px)768px,(max-width:1920px)768px,768px" format="" data-variantfieldname="MovieThumbNail" /></div><button class="video-play-label field-play-button-label">Watch Video</button></div><div class="modal video-modal"><span class="close-video-modal"></span> <div class="component video" data-properties="{"enableKeyboard":"true","name":"Movie","completedTime":"null"}"> <div class="component-content"> <div class="sxa-video-wrapper"> <video style="width: 100%; height: 100%;" preload="none" poster=""> <source type="video/youtube" src="//www.youtube-nocookie.com/embed/LnT3FWcwcDM" /> </video> <div class="video-init"></div> </div> <div class="video-caption"> </div> <div class="video-description"> </div> </div> </div> </div> </div> </div> <div class="component rich-text article-text"> <div class="component-content"> <h3> <a id="1a"> </a>Benefits of forming an LLC</h3> <p>The benefits of creating an LLC — as opposed to operating your business as a sole proprietorship, general partnership, or corporation - typically outweigh any perceived disadvantages.</p> <ul> <li> <strong>Limited liability:</strong> Members (term used to describe LLC owners) are shielded from personal liability for acts of the LLC and its other members. Creditors cannot pursue the personal assets (house, savings accounts, etc.) of the owners to pay business debts. With a sole proprietorship or general partnership, where this is no legal distinction between the business and the owners, creditors and other parties can go after the personal assets of the owners in order to satisfy the business’ debts. <br /> <br /> Note: It is possible for an LLC (as well as a corporation) to lose its limited liability. This is known as “piercing the veil”. For more information, see <a href="/en/expert-insights/how-to-avoid-piercing-the-corporate-veil">How to avoid piercing the corporate veil</a>.<br /> <br /> <strong>Related:</strong> <a href="/en/expert-insights/singlemember-llc-vs-sole-proprietorship">Single-member LLC vs. sole proprietorship</a>, <a href="/en/expert-insights/llc-vs-partnership">LLC vs. partnership</a><br /> <br /> </li> <li><strong>Flexible membership:</strong> LLC members (owners) can be individuals, partnerships, trusts, or corporations, and there is no limit on the number of members. S corporations (which is a corporation that has elected to be taxed as a pass-through entity under Subchapter S of the Internal Revenue Code) are much more restricted in who can be a shareholder, and there is a maximum limit on the number of shareholders.<br /> <br /> <strong>Related:</strong> <a href="/en/expert-insights/llc-vs-s-corporation-advantages-and-disadvantages">LLC vs. S corporation</a><br /> <br /> </li> <li><strong>Management structure:</strong> LLC members (owners) can manage the LLC or elect a management group to do so. When an LLC is managed by members (a “member-managed” management structure), the owners oversee daily business operations. When managed by appointed managers (a “manager-managed” management structure), the LLC resembles a corporation, where business management is the responsibility of the directors and officers rather than the owners (shareholders).<br /> <br /> </li> <li><strong>Pass-through taxation:</strong> LLCs typically do not pay taxes at the business entity level. Any <a href="/en/expert-insights/how-to-compute-business-income">business income</a> or loss is "passed-through" to owners and reported on their personal income tax returns. Any tax due is paid at the individual level. Corporations that cannot or choose not to be taxed as an S corporation are taxed at the business entity level and their shareholders are taxed on the income distributed to them. (This type of corporation, which is the default when you incorporate, is known as a C corporation because it is taxed under IRS Subchapter C of the IRC.)<br /> <br /> <strong>Related:</strong> <a href="/en/expert-insights/llc-vs-inc-understanding-the-key-similarities-and-differences-between-an-llc-and-inc">LLC vs. Inc (corporation)</a><br /> <br /> </li> <li><strong>Heightened credibility:</strong> Starting an LLC may help a new business establish credibility more than if the business is operated as a sole proprietorship or partnership.<br /> <br /> </li> <li><strong>Limited compliance requirements:</strong> LLCs face fewer state-imposed compliance requirements and ongoing formalities than corporations (whether taxed as S corporations or C corporations).</li> </ul> <h3><a id="1b"></a>LLC considerations</h3> <p>There may be several perceived disadvantages to choosing an LLC as your business structure. (But in many cases, the advantages outweigh the drawbacks.)</p> <ul> <li><strong>Cost:</strong> An LLC usually costs more to form and maintain than a sole proprietorship or general partnership. States charge an initial formation fee. Many states also impose ongoing fees, such as annual report and/or franchise tax fees. Check with your Secretary of State's office.<br /> <br /> </li> <li><strong>Compliance obligations. </strong>An LLC (as well as an S or C corporation) has ongoing compliance obligations. These can include state obligations, such as maintaining a registered agent and filing an annual report. Federal obligations may include having to keep up-to-date beneficial ownership information with the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN). <br /> <br /> </li> <li> <strong>Transferable ownership. </strong>Ownership in an LLC is often harder to transfer than with a corporation. With corporations, shares of stock can be sold by the corporation to increase ownership and, unless there is a shareholder agreement to the contrary, the shareholders can sell their shares to someone else. Typically, with LLCs, unless the members agree otherwise, all members must approve adding new members or altering the ownership percentages of existing members.<br /> <br /> </li> </ul> <h2><a id="2"></a>How to create an LLC: A step-by-step guide</h2> <p>LLCs are generally easier to form than a corporation, but there are some administrative and compliance tasks to be done. Although requirements can vary by state, these are the basic steps for setting up an LLC.</p> <h3>Step 1: Choose a state in which to form your LLC</h3> <p>You can choose to create an LLC in any state — even if the LLC won’t be doing any business there. </p> <p>However, most LLC owners choose to form an LLC in the state in which they plan to do business — which, in many cases, is the state they live in. One reason is that if the LLC is formed in a state where it is not doing business, the LLC will also have to register as a foreign LLC (aka <a href="/en/solutions/bizfilings/foreign-qualification">foreign qualify</a>) to do business in the state where it is doing business, which can increase formation and administrative costs.</p> <p>It’s important to note that formation fees, annual report fees, taxation, and LLC laws can vary significantly from state to state, making some states more advantageous for certain small business owners. <br /> <br /> Related: <a href="/en/expert-insights/why-incorporate-in-delaware-or-nevada">Why incorporate in Delaware, Nevada, or Wyoming?</a>, <a href="/en/expert-insights/key-issues-in-selecting-formation-state">How to select a state for LLC formation.</a></p> <h3>Step 2: Choose a business name for your LLC</h3> <p>In order to form an LLC, you’ll have to choose a business name that is “distinguishable on the record”. That means the name is not already on the Secretary of State’s records as being the name of another domestic or qualified LLC or other business entity. This is important to know since many sole proprietors already operating under a registered <a href="/en/solutions/bizfilings/doing-business-as-dba">“doing business as” (DBA) name</a> or trade name may want to use their DBA name as their legal business name when they decide to set themselves up as an LLC.</p> <p>To check the <a href="/en/solutions/bizfilings/state-name-reservation">availability of the business name</a> you want for your LLC, whether it’s registered as your DBA name or not, you should conduct an LLC name search on your formation state’s website and see whether your desired name is already in use. If you’re not ready to file your LLC formation document, it is a good idea to reserve the name. For a small fee, states will allow you to reserve a business name for a short period of time.</p> <p>It’s also a good idea to conduct a <a href="/en/expert-insights/understanding-patents-trademarks-and-copyrights">trademark search</a> of the name you want to use in order to avoid intellectual property infringement.</p> <h3>Step 3: Choose a registered agent</h3> <p>In starting an LLC, or registering an existing LLC to transact business in a foreign state, you are required to have a registered agent in the state of formation (or qualification). </p> <p>A registered agent, also known as an agent for service of process, receives important legal notices and tax documents on behalf of a business registered with the state. These include important legal documents, notices, and communications mailed by the Secretary of State (such as <a href="/en/solutions/bizfilings/managed-annual-report-service">annual reports</a> or statements) and tax documents sent by the state’s department of taxation. A registered agent also must be available to receive service of process (sometimes called Notice of Litigation), which are legal documents. These are typically a summons and complaint that provide notice that a lawsuit has been filed against the LLC. Other court documents, such as wage garnishment orders and subpoenas, are also served on the registered agent.</p> <p>While the owner of an LLC can choose to serve as the LLC’s registered agent, there are a number of compelling reasons why business owners choose a <a href="/en/expert-insights/10-good-reasons-to-use-a-registered-agent-service-provider">registered agent service provider</a> to assist with this important requirement. Among other things, if the registered agent is not available when time-sensitive documents are delivered, or if the person receiving them mishandles them, this can create serious problems for the LLC. The registered agent must also have a physical address in the state and cannot use a PO Box.</p> <h3>Step 4: Prepare your LLC operating agreement</h3> <p>An LLC operating agreement is required in nearly every state. And although most states allow oral agreements, it is highly recommended that every LLC have a written operating agreement. As the name implies it is an agreement among the members and between the LLC and the members as to how the LLC will be operated. Even if there is only one owner (as with a <a href="/en/expert-insights/singlemember-llc-vs-sole-proprietorship">single-member LLC</a>), it is important to have an operating agreement. This shows that you respect the LLC’s separate existence (and can help avoid piercing the veil). It also gives you a chance to put in writing what you want to happen in certain circumstances such as if you can no longer manage the business and allows you to opt out of certain default provisions of the LLC statute that you might not want the LLC to be governed by.</p> <p>It is particularly important for multi-member LLCs to have a well-drafted operating agreement. This document will clearly spell out the division of ownership, labor and profits, and often heads off disputes among the owners. It should detail, among other things, who has authority to do what, what vote is required to approve certain transactions, how membership interests can be transferred, how new members can be added, how distributions, profits and losses will be split, and more. It is recommended that the operating agreement be reviewed by your attorney to be sure that all the bases are covered.</p> <h3>Step 5: File your LLC’s Articles of Organization with the state</h3> <p>To make your new LLC exist officially, you must file LLC formation documents with the Secretary of State’s office or whichever department handles business filings in the state in which you are forming. This document is commonly referred to as a Certificate of Organization, Certificate of Formation, or Articles of Organization. <a href="/en/solutions/bizfilings/who-we-serve/estimated-state-fees">Filing fees</a> vary across the U.S.</p> <p><em>Can an LLC be “incorporated"?</em></p> <p>Although it is common to hear of an LLC being “incorporated”, the correct way to describe the creation of an LLC (or any entity type other than a corporation) is to say that the business has been “formed” or “organized”. “Incorporation” and <a href="/en/expert-insights/articles-of-incorporation-documents-and-requirements">Articles of Incorporation</a>are terms that apply to a corporation (regardless of whether it is taxed as a <a href="/en/solutions/bizfilings/c-corporation">C corporation</a> or <a href="/en/solutions/bizfilings/s-corporation">S corporation</a>).</p> <p><em>What are LLC Articles of Organization?</em></p> <p>While each state’s LLC formation document is different to some extent, there are several common elements. These include the following:</p> <ul> <li>Name, principal location and purpose of the business</li> <li>Registered agent’s name and physical address</li> <li>Whether the LLC will be member-managed or manager-managed</li> </ul> <p>Standard forms for the Articles of Organization for an LLC are generally available from each state. The person who formed the LLC must sign the paperwork. In most cases that person does not have to be a member (owner) or manager. In some states, the registered agent’s consent to act as registered agent is also required.</p> <p>Once approved and filed, the state will issue a certificate or other confirmation document. The certificate serves as legal proof of the LLC’s status and can be used to open a business bank account <a href="/en/solutions/bizfilings/obtaining-a-federal-tax-id-ein">obtain an EIN</a>, and so on. </p> <p><strong>Note regarding the LLC publication requirement:</strong> Some states may also require that you publish a notice, often in a local newspaper, confirming the formation of the LLC. You may then need to file a certificate of publication with the state.</p> <h3>Step 6: File a beneficial ownership information report</h3> <p>Most LLCs will have to file a beneficial ownership information (BOI) report with FinCEN (U.S. Department of Treasury’s Financial Crimes Enforcement Network). A BOI report includes information on the individuals who ultimately own or control the business. Newly created LLCs that are not exempt will also have to submit information about the company applicant (the individual who directly files the document that creates or registers the LLC). For more information, visit the <a href="https://www.fincen.gov/boi" target="_blank">FinCEN website</a> and you can file your BOI reports with <a href="https://boi.bizfilings.com/app/boi/get-started?utm_source=oneweb&utm_medium=bfi&utm_campaign=solutions&_gl=1*1s5l2ga*_gcl_au*MTUwOTEzOTYzNi4xNzMxMzQ2NDE5*_ga*MzYyNjA2NzAwLjE3MzEzNDY0MjA.*_ga_7DJGBC7BG3*MTczMTY5NzE4OC4xOS4xLjE3MzE3MDIxNzEuNDIuMC4w" target="blank">BizFilings’ filing solution.</a></p> <h3>Step 7: Obtain EIN, sales tax ID, and licenses</h3> <p>After establishing the business entity, you must apply to the IRS for an <a href="/en/expert-insights/obtaining-a-federal-tax-id-ein">employer identification number (EIN)</a>. This is the identification number your LLC will use on all its bank accounts, as well as income and employment tax filings. </p> <p>In addition, you will need to apply to the state's tax department for a sales tax identification number, and you may need to register with the state's labor department in each state the LLC will be doing business. Your business may also need to obtain one or more licenses and permits for each jurisdiction.</p> <h3>Step 8: Open a business bank account</h3> <p>Opening a business bank account step is a key best practice for anyone who has created an LLC and is one of the steps outlined in our guide: <a href="/en/expert-insights/how-to-start-a-business-10-steps-to-starting-a-business">10 steps to starting a business</a>. It is crucial to separate business finances from personal ones. This is one of the main factors that courts consider when deciding whether to pierce an LLC’s veil and hold the member liable for the LLC’s debts. A business credit card can also be used to keep personal and business transactions separate, as well as to help build business credit. </p> <p>Most banks require company details to open a business account, such as formation date, business type, and owner names and addresses, and EIN. </p> <h3>Step 9: Register to do business in other states (if necessary)</h3> <p>If your LLC will be doing business in more than just the formation state, you will have to register — also known as “foreign qualifying” — in each additional state. (“Foreign” refers to a state or jurisdiction other than your formation state.) Foreign qualification generally requires filing an application for authority with the Secretary of State. A <a href="/en/expert-insights/what-is-good-standing-and-why-your-business-needs-it">Certificate of Good Standing</a> is often required as well. The LLC will also have to appoint and maintain a registered agent in each additional state.</p> <p>Many factors are used to determine whether a company is transacting business in a state, and therefore needs to foreign qualify. Some of the common criteria include whether your company -</p> <ul> <li>has a physical presence in the state</li> <li>has employees in the state</li> <li>accepts orders in the state</li> </ul> <p>Note that different states have different criteria. To determine whether your LLC needs to foreign qualify in a certain state, it is best to seek the legal advice of an attorney. </p> <h2><a id="3"></a>Comparing LLCs with other entity types</h2> <p>When forming a business, one of the most important steps is deciding on the business structure. There are several business entity options available that each present different advantages and disadvantages. </p> <p><strong>LLCs versus C Corps, S Corps, and DBAs</strong><br /> Understand the key benefits of LLCs, C Corporations, S Corporations and DBAs before deciding which entity type is right for you. Read our article <a href="/en/expert-insights/compare-types-of-businesses-c-corp-s-corp-llc-and-dba">Comparing company types: Understanding C Corp, S Corp, LLC and DBA Business Structures</a>.</p> <p><strong>LLCs versus S Corps</strong><br /> While the S corporation and LLC both have pass-through taxation, the S corporation lacks the flexibility of an LLC in allocating income to the owners. Additionally, an LLC may offer several classes of membership interest while an S corporation may only have one class of stock. Visit our article on <a href="/en/expert-insights/s-corp-vs-llc-differences-and-benefits">LLCs versus S corporations</a> to learn about other key differences.</p> <p><strong>LLCs versus Partnerships and Sole Proprietorships</strong><br /> Learn about the advantages and disadvantages related to taxation, asset protection and other key criteria faced by LLC owners, sole proprietors and partners, whether general or limited partnerships in our article<a href="/en/expert-insights/sole-proprietorships-partnerships-and-llcs-are-commonly-used-entities"> Sole Proprietorships, partnerships ,and LLCs are commonly used entities</a>.</p> <h2><a id="4"></a>LLC state guides</h2> <p>When forming an LLC, one of the first steps is to choose your formation state. </p> </div> </div> </div> </div> </div> <div class="container-fluid"> <div > <div class="row"> <div class="component table col-12"> <div class="component-content"> <div class="table__header"><div class="table__cta"></div></div><div class="table__content"><div class="field-content"><table style="border-width:1px; border-color:black; width:500px;"> <tbody> <tr> <th colspan="3" style="text-align: center;"><strong>Select your state to view detailed information:</strong></th> </tr> <tr> <td><a href="/en/solutions/bizfilings/state-guides/alabama-llc-requirements">Alabama</a></td> <td><a href="/en/solutions/bizfilings/state-guides/kentucky-llc-requirements">Kentucky</a></td> <td><a href="/en/solutions/bizfilings/state-guides/north-dakota-llc-requirements">North Dakota</a></td> </tr> <tr> <td><a href="/en/solutions/bizfilings/state-guides/alaska-llc-requirements">Alaska</a></td> <td><a href="/en/solutions/bizfilings/state-guides/louisiana-llc-requirements">Louisiana</a></td> <td><a href="/en/solutions/bizfilings/state-guides/ohio-llc-requirements">Ohio</a></td> </tr> <tr> <td><a href="/en/solutions/bizfilings/state-guides/arizona-llc-requirements">Arizona</a></td> <td><a href="/en/solutions/bizfilings/state-guides/maine-llc-requirements">Maine</a></td> <td><a href="/en/solutions/bizfilings/state-guides/oklahoma-llc-requirements">Oklahoma</a></td> </tr> <tr> <td><a href="/en/solutions/bizfilings/state-guides/arkansas-llc-requirements">Arkansas</a></td> <td><a href="/en/solutions/bizfilings/state-guides/maryland-llc-requirements">Maryland</a></td> <td><a href="/en/solutions/bizfilings/state-guides/oregon-llc-requirements">Oregon</a></td> </tr> <tr> <td><a href="/en/solutions/bizfilings/state-guides/california-llc-requirements">California</a></td> <td><a href="/en/solutions/bizfilings/state-guides/massachusetts-llc-requirements">Massachusetts</a></td> <td><a href="/en/solutions/bizfilings/state-guides/pennsylvania-llc-requirements">Pennsylvania</a></td> </tr> <tr> <td><a href="/en/solutions/bizfilings/state-guides/colorado-llc-requirements">Colorado</a></td> <td><a href="/en/solutions/bizfilings/state-guides/michigan-llc-requirements">Michigan</a></td> <td><a href="/en/solutions/bizfilings/state-guides/rhode-island-llc-requirements">Rhode Island</a></td> </tr> <tr> <td><a href="/en/solutions/bizfilings/state-guides/connecticut-llc-requirements">Connecticut</a></td> <td><a href="/en/solutions/bizfilings/state-guides/minnesota-llc-requirements">Minnesota</a></td> <td><a href="/en/solutions/bizfilings/state-guides/south-carolina-llc-requirements">South Carolina</a></td> </tr> <tr> <td><a href="/en/solutions/bizfilings/state-guides/delaware-llc-requirements">Delaware</a></td> <td><a href="/en/solutions/bizfilings/state-guides/mississippi-llc-requirements">Mississippi</a></td> <td><a href="/en/solutions/bizfilings/state-guides/south-dakota-llc-requirements">South Dakota</a></td> </tr> <tr> <td><a href="/en/solutions/bizfilings/state-guides/district-of-columbia-llc-requirements">District of Columbia</a></td> <td><a href="/en/solutions/bizfilings/state-guides/missouri-llc-requirements">Missouri</a></td> <td><a href="/en/solutions/bizfilings/state-guides/tennessee-llc-requirements">Tennessee</a></td> </tr> <tr> <td><a href="/en/solutions/bizfilings/state-guides/florida-llc-requirements">Florida</a></td> <td><a href="/en/solutions/bizfilings/state-guides/montana-llc-requirements">Montana</a></td> <td><a href="/en/solutions/bizfilings/state-guides/texas-llc-requirements">Texas</a></td> </tr> <tr> <td><a href="/en/solutions/bizfilings/state-guides/georgia-llc-requirements">Georgia</a></td> <td><a href="/en/solutions/bizfilings/state-guides/nebraska-llc-requirements">Nebraska</a></td> <td><a href="/en/solutions/bizfilings/state-guides/utah-llc-requirements">Utah</a></td> </tr> <tr> <td><a href="/en/solutions/bizfilings/state-guides/hawaii-llc-requirements">Hawaii</a></td> <td><a href="/en/solutions/bizfilings/state-guides/nevada-llc-requirements">Nevada</a></td> <td><a href="/en/solutions/bizfilings/state-guides/vermont-llc-requirements">Vermont</a></td> </tr> <tr> <td><a href="/en/solutions/bizfilings/state-guides/idaho-llc-requirements">Idaho</a></td> <td><a href="/en/solutions/bizfilings/state-guides/new-hampshire-llc-requirements">New Hampshire</a></td> <td><a href="/en/solutions/bizfilings/state-guides/virginia-llc-requirements">Virginia</a></td> </tr> <tr> <td><a href="/en/solutions/bizfilings/state-guides/illinois-llc-requirements">Illinois</a></td> <td><a href="/en/solutions/bizfilings/state-guides/new-jersey-llc-requirements">New Jersey</a></td> <td><a href="/en/solutions/bizfilings/state-guides/washington-llc-requirements">Washington</a></td> </tr> <tr> <td><a href="https://www.wolterskluwer.com/en/solutions/bizfilings/state-guides/indiana-llc-requirements ">Indiana</a></td> <td><a href="/en/solutions/bizfilings/state-guides/new-mexico-llc-requirements">New Mexico</a></td> <td><a href="/en/solutions/bizfilings/state-guides/west-virginia-llc-requirements">West Virginia</a></td> </tr> <tr> <td><a href="/en/solutions/bizfilings/state-guides/iowa-llc-requirements">Iowa</a></td> <td><a href="/en/solutions/bizfilings/state-guides/new-york-llc-requirements">New York</a></td> <td><a href="/en/solutions/bizfilings/state-guides/wisconsin-llc-requirements">Wisconsin</a></td> </tr> <tr> <td><a href="/en/solutions/bizfilings/state-guides/kansas-llc-requirements">Kansas</a></td> <td><a href="/en/solutions/bizfilings/state-guides/north-carolina-llc-requirements">North Carolina</a></td> <td><a href="/en/solutions/bizfilings/state-guides/wyoming-llc-requirements">Wyoming</a></td> </tr> </tbody> </table></div></div> </div> </div> <div class="component productpromo medium-gray-bg col-12"> <div class="component-content"> <div class="product-wrapper"><div class="productpromo-eyebrow field-eyebrow">The business formation experts</div><h4 class="productpromo-name field-name"><p>BizFilings</p></h4><div class="productpromo-description field-description"><p>Form an LLC today for as little as $99. Includes 3 months FREE Registered Agent. </p></div><div class="productpromo-link field-link"><a data-variantfieldname="Link" data-dm-wk="productpromotion.button" href="https://secure.bizfilings.com/PackageSelect.aspx?EntityTypeId=167&IsCCorp=0&_gl=1*abnc1u*_gcl_aw*R0NMLjE2MzU4NTg5MzYuQ2owS0NRand3NE9NQmhDVUFSSXNBSUxuZHY1SzNrZGhjMTFxZU8yNm5vVFduUUo4Snh5TjhhM25kaldCY3NXNGw4SVBwdmhjYkdFRVMtVWFBcktSRUFMd193Y0I.*_gcl_dc*R0NMLjE2MzU4NTg5MzYuQ2owS0NRand3NE9NQmhDVUFSSXNBSUxuZHY1SzNrZGhjMTFxZU8yNm5vVFduUUo4Snh5TjhhM25kaldCY3NXNGw4SVBwdmhjYkdFRVMtVWFBcktSRUFMd193Y0I." data-variantitemid="{C3A11498-35E4-4843-9A61-BA67B22DCA01}">Form an LLC Now</a></div></div><div class="details-wrapper"><div class="productpromo-cta-wrapper"></div></div> </div> </div> <div class="component rich-text article-text col-12"> <div class="component-content"> <a id="5"></a> <h2>LLC resources </h2> <p>See our list of LLC articles, covering topics from formation state to tax implications.</p> <p><a href="/en/expert-insights/key-issues-in-selecting-formation-state">Key issues in selecting formation state</a><br /> Selecting a state in which to form your business is a significant decision. Read more about key considerations to evaluate when deciding where to form your business.</p> <p><a href="/en/expert-insights/overview-of-tax-implications-of-llcs-and-corporations">Overview of tax implications of LLCs and corporations</a><br /> There are significant differences in the way LLC s and Corporations are charged state fees,  as well as how they operate under state law and are taxed by federal and state governments. These factors need to be considered when choosing the organizational form for your business.</p> <p><a href="/en/expert-insights/llc-electing-s-corp-tax-status-an-option-you-may-not-know-you-have">LLC electing S Corp tax status: An option you may not know you have</a><br /> If you think you can benefit from the combined features of using an LLC to own and operate your small business and then having it be taxed like an S corporation, evaluate the election of S Corp tax status for your LLC. From double taxation to self-employment tax, this article will identify the key considerations.</p> <p /> <p><a href="/en/expert-insights/your-llc-and-spring-cleaning-which-records-to-keep-or-toss">Your LLC and spring cleaning: Which records to keep or toss?</a><br /> Get guidance on which documents you need to retain and which can be discarded in order to keep your LLC in compliance. </p> <h2><a id="6"></a>LLC FAQs</h2> <p><strong>What LLC forms are required to start a limited liability company?</strong></p> <p>Articles of Organization, sometimes also called a Certificate of Organization, must be prepared and filed with the state. Filing fees and any applicable initial franchise taxes or other initial fees must also be paid. If your <a href="/en/solutions/vcorp-services/limited-liability-company">LLC</a> is formed through BizFilings, all you need to do is complete our simple LLC forms and we will do the rest. We will prepare and file your Articles of Organization and LLC forms and pay the initial filing fees on your behalf.</p> <p><strong>Who can form an LLC?</strong></p> <p>Typically, there are no residency or legal restrictions as to who can start an LLC. However, a few states impose requirements that members and/or managers must be at least 18 years of age, or the age of consent. For more information regarding the requirements of each state, view the LLC Formation Requirements page of our <a href="/en/solutions/bizfilings/state-guides">state guides</a>.</p> <p><strong>Do I need an attorney to form an LLC?</strong></p> <p>No, you can prepare and file the Articles of Organization – one of the most important LLC forms needed – yourself. Be sure you understand the requirements of your intended state of incorporation. You can use BizFilings' service to form your LLC, complete your LLC forms and save money on attorney's fees. If you are unsure of what business type is best for you, try our <a href="/en/solutions/bizfilings/tools-and-resources/incorporation-wizard-tool">Incorporation Wizard</a>.</p> <p><strong>What should I name my LLC?</strong></p> <p>Choosing the name of a new company is an important decision. It is typically advisable to select a name that projects the image you want for your new company. Selecting a name that is easy for customers to remember and spell also has benefits. Legally, the name you select for your LLC must not be "deceptively similar" to any existing company in that state or must be "distinguishable on the record" of your state. It is possible that the name you select will not be available in your state of incorporation — that’s why BizFilings asks for a second choice on our LLC order form. Additionally, most states require that the name you select shows your business is an LLC by including the words "Limited Liability Company" or the abbreviation of "LLC."</p> <p><strong>How many people are needed to form an LLC?</strong></p> <p>There is no requirement specifying the maximum number of members (owners) an LLC can have. The IRS does allow one-member LLCs to qualify for pass-through tax treatment. Taxation of the one-member LLCs at the state level may be different.</p> <p><strong>How is a limited liability company (LLC) taxed?</strong></p> <p>Typically, LLCs with two or more members (owners) are taxed like partnerships. LLCs with only one owner are taxed as sole proprietorships. While multi-member LLCs must file an informational tax return, single member LLCs do not. In both cases, the profits or losses are “passed-through” the business and reported on the owners’ tax returns. Any tax due is then paid by the owners at the individual tax level. <br /> <br /> LLCs can also elect to be taxed like corporations, where the profits of the LLC are taxed at the business level. The state income tax treatment of LLC profits and losses may or may not mirror the IRS tax treatment depending on the state. <br /> <br /> LLCs are also subject to any franchise taxes imposed by the state of incorporation. A franchise tax is a tax imposed for the mere privilege of being an LLC formed or registered to transact business (through a process called <a href="/en/solutions/bizfilings/foreign-qualification">foreign qualification</a>, <a href="/en/expert-insights/doing-business-in-another-state-foreign-qualification">learn more about doing business out of state here</a>) in that state. Franchise taxes are typically due annually, and the amounts differ by state. Note: California LLCs are subject to an annual minimum franchise tax of $800 per year.</p> <p><strong>What is the organizational structure of an LLC?</strong></p> <p>An LLC is owned by its members (owners). These members are analogous to partners in a partnership or shareholders in a corporation, depending on how the LLC is managed. A member will more closely resemble shareholders if the LLC utilizes managers, because then the members will not participate in management. If the LLC does not utilize managers, then the members will closely resemble partners because they will have a direct say in company decision-making. A member's ownership of an LLC is represented by membership interest, just as partners have interest in a partnership and shareholders have stock in a corporation. </p> <p><strong>How is an LLC managed?</strong></p> <p>An LLC may be managed by its members (owners) or by selected managers. If the LLC is to be managed by its members, it operates much like a partnership. Each member has an equal say in the company decision-making process. Alternatively, the members can choose to elect a manager or managers to act in a capacity similar to a corporation's board of directors. These managers oversee the affairs of the LLC. <br /> <br /> Member-management is the normal default rule of state law. This means that if managers are not selected in the Articles of Organization LLC forms, the members will direct the affairs of the LLC.</p> <p><strong>What is an LLC publication requirement?</strong></p> <p>A few states require notice to be published in a newspaper that an LLC has been formed. States with this requirement for LLCs include Arizona, Nebraska, and New York. The Published Notice of Formation Service can be added to a BizFilings LLC Formation Service order in each of these states. For New York limited liability entities (Limited Liability Company, Limited Partnership, Limited Liability Partnership), the New York Published Notice of Formation Service can also be purchased independently from BizFilings. <br /> <br /> In New York, limited liability entities are required to publish notice of their formation or registration in two New York newspapers and to file proof of publication with the Department of State within 120 days. The publication is made at the county level in two newspapers. Failure to comply with the publication requirement by the deadline results in the suspension of a company's authority to do business in the State of New York.</p> <p><strong>Does my LLC need a registered agent?</strong></p> <p>It is required that you appoint a <a href="/en/solutions/bizfilings/registered-agent-services">registered agent</a>when you start an LLC or register to transact business in another state (a process called <a href="/en/solutions/bizfilings/foreign-qualification">foreign qualification</a>). BizFilings includes Registered Agent Service with its incorporation and formation service packages.<br /> <br /> With our <a href="/en/solutions/bizfilings/registered-agent-services">Registered Agent Service</a>, BizFilings satisfies the state's legal requirement to have an individual or company receive important legal and tax documents on behalf of your company. Our service doesn't stop there, however. BizFilings provides a number of advantages at no additional charge to you, such as access to <a href="/en/solutions/bizfilings/bizcomply">BizComply</a> (our online compliance management tool), electronic Service of Process delivery, online access to your account, and more.</p> <p><strong>How do I ensure my LLC always has a registered agent?</strong></p> <p>Our LLC formation service packages include six months of <a href="/en/solutions/bizfilings/registered-agent-services">Registered Agent Service</a>. As your registered agent, BizFilings fulfills your state’s legal requirements and provides ongoing compliance assistance for your business. You not only receive our Registered Agent Service for 6 months free with your incorporation package order, but you also avoid interruption of this valuable service with our convenient auto-renewal program. For $164 per year, your Registered Agent Service will automatically be renewed to help ensure your company remains in good standing with the state. You also have the option to renew for multiple years and save over the single year price. You can renew your Registered Agent Service for two years for $320 (save $120) or three years for $420 (save $240).</p> <p><strong>How do I get started setting up a limited liability company (LLC)?</strong></p> <p>After you decide to form an LLC, Articles of Organization LLC forms must be filed, and state and initial fees must be paid. BizFilings' LLC Formation Service packages handle these steps for you. After your LLC forms are filed, it is recommended that your LLC hold an organizational meeting of the members/managers. This meeting will help to start an LLC by adopting an operating agreement, issuing membership interest certificates to members, and undertaking other preliminary matters such as authorizing the opening of a bank account for the LLC. View our article on <a href="/en/expert-insights/business-compliance-requirements-and-consequences">Business Compliance Requirements</a> to learn more.</p> <p><strong>How soon will I receive my documents when I select the Rush Filing Service?</strong></p> <p>The 24- or 48-hour filing time is for the LLC formation only. It typically takes longer for the states to produce the filed incorporation documents. Once BizFilings receives your documents from the state, we will ship them to you via FedEx Overnight delivery. This means you should have your documents in hand anywhere from just a few days to one week after your LLC filing. We will also scan them into our Online Status Center, making them available to you before you receive your original documents to help get an LLC started as quickly as possible. <br /> <br /> Note: some states require your signature on the incorporation documents when someone other than BizFilings is acting as registered agent. In these cases, the filing timeframe of 24 to 48 hours begins after we have received the signed documents and received any applicable prior approvals or consent.</p> <p><strong>What is a single-member LLC?</strong></p> <p>A single-member limited liability company is a "disregarded entity" for federal tax purposes. It still provides protection of personal assets. You report the taxable income and the expenses of the business using Schedule C and carry that information over to your personal Form 1040.</p> <p><strong>What is an LLC operating agreement?</strong></p> <p>An LLC operating agreement is a contract that outlines the guidelines and details of an LLC. The operating agreement, which is required to have in place, is written by the LLC members during the first meeting. Our <a href="/en/solutions/bizfilings/compliance-kit-and-seal">Compliance Kit and Seal </a>service provides template agreements. </p> <p><strong>What are the benefits of an LLC?</strong></p> <p>A limited liability company has many benefits, including tax benefits and flexibility advantages. Learn more about LLC advantages and disadvantages above. </p> <p><strong>What is a Professional LLC (PLLC)?</strong></p> <p>A <a href="/en/solutions/bizfilings/professional-corporation">professional limited liability company (PLLC)</a> is a limited liability company (LLC) organized to provide professional services in industries that require a state license in order to practice. </p> <p><strong>How do I get an EIN for my LLC?</strong></p> <p>Businesses apply for an <a href="/en/solutions/bizfilings/federal-tax-id-ein-obtainment">EIN </a>(Federal Tax ID number) by preparing Internal Revenue Service (IRS) Form SS-4 and filing it with the IRS. BizFilings can assist with the obtainment of your company's EIN number from the IRS on your behalf. Simply fill out our Federal Tax ID EIN online order form.</p> <p><strong>How much does it cost to register as an LLC?</strong> </p> <p>The LLC formation and incorporation filing fees vary by state. Our <a href="/en/solutions/bizfilings/state-guides">state fee guides</a> provide the filing fee for each state.</p> <p><strong>More questions about LLCs?</strong></p> <p>When it comes to how to start an LLC, there is a lot for small business owners to think - from liability and taxes to LLC business management and more. To help you decide which business structure is best for you, try <a href="/en/solutions/bizfilings/tools-and-resources/incorporation-wizard-tool">BizFilings’ Incorporation Wizard Tool</a>.</p> </div> </div> <div class="component wkbutton primary reverse indent-bottom"> <div class="component-content"> <div class="wkbutton-link field-link"><a data-variantfieldname="Link" aria-label="Start An LLC" title="Start An LLC" href="/en/solutions/bizfilings/limited-liability-company" data-variantitemid="{5F84244B-F6C2-4BEB-A050-E0A85FB184A9}">Start An LLC</a></div><div class="wkbutton-wrapper"><span title="wk-icon-arrow-right" class="wkbutton-icon wk-icon-arrow-right"></span><div class="wkbutton-label field-label">Start An LLC</div></div> </div> </div> <div class="component productpromo medium-gray-bg col-12"> <div class="component-content"> <div class="product-wrapper"><div class="productpromo-eyebrow field-eyebrow">small business services</div><h4 class="productpromo-name 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