Checklist How To Setup an LLC

This checklist how to setup an llc template has 3 pages and is a MS Word file type listed under our business plan kit documents.

Sample of our checklist how to setup an llc template:

CHECKLIST HOW TO SET UP AN LLC COMPANY Limited Liability Companies (LLCs) reduce personal liability because they are legally separate from their owners. The corporate structure keeps investors from personal obligations and debts. LLCs exclude personal assets from the business. Hence, investors' homes or bank accounts cannot pay debts. Businesses operating as LLCs can stay protected, even when an employee or business partner sues for negligence. For such a reason, creating an LLC is helpful for many small businesses. A checklist for setting up an LLC helps business owners understand the requirements for creating the company. It also helps business owners avoid possible missteps and errors. If you're a potential LLC owner, here's a helpful step-by-step checklist and breakdown of the methods to LLC creation: Checklist: Choose a Name for the LLC Creating a marketable name for the LLC isn't always the top priority, especially due to state law requirements. Before choosing a business name, ensure it meets the fundamental rules of the state. It's acceptable to consider branding after the LLC name meets such state requirements. Most state laws aren't complex - they primarily don't allow businesses to choose a name that another organization uses in the state. Some states also prohibit words that may imply they are in a certain business, like banking or insurance. In most cases, the legal name should end with an LLC designator such as "LLC" or "Limited Liability Company." Business owners can review their state's LLC naming requirements and find out available names on the state agency's website. In many cases, this is the Secretary of State. Prepare the State's LLC Article of Organization Form Before preparing the state's LLC Article of Organization Form, business owners should get a copy of the form. This process is important for establishing the LLC as a legal entity. Start the process by filing articles of organization with the state agency handling business filings in the state. Note that some states refer to the article of organization as a "certificate of formation" and each state has a unique one. To get the form, check the website of the state agency responsible. When preparing the LLC Article of Organization Form, it's vital to note that each state lists its requirements and procedures. Some of the fundamental details required include: Business name Purpose of business Duration of the LLC Contact information How the LLC will be managed The principal address of the business Choose a Registered Agent In every state, LLCs should have a registered agent. An agent is the person who obtains official and legal documents on behalf of the LLC. Once they get such documents, they pass them on to the individual in charge of the LLC. It's a fundamental rule that anyone who is at least 18 years old can function as a registered agent. Business owners can also name themselves as an agent