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LLC registration involves knowing state requirements, filling out forms, and paying a processing fee. An operating agreement may be required and can help resolve differences. Some states require publication of registration. Online resources are available for assistance.
An LLC (limited liability company) is a business entity created under the LLC law of the state in which it is formed. An LLC registration mainly involves knowing the requirements of the state in which the LLC must be registered. There are forms prepared for each state jurisdiction, printed by the agency responsible for records. A processing fee must accompany any registration. Fees vary from state to state, but are generally modest.
The registration forms themselves are not complicated. The company name followed by “LLC” or “limited liability company” must appear on the form. The forms require basic identifying information about the business owner or members, its principal place of business, and the nature of the business. Most forms require the name of the company’s registered agent. An LLC cannot be its own registered agent.
Some jurisdictions require that an LLC “operating agreement” be submitted with the registration application. This is an agreement signed by all members of the LLC regarding the scope and operation of the company. It contains members’ understanding of their financial obligations as well as their rights and duties.
An LLC operating agreement can be valuable even in states where it is not required for registration. Serves as a guide to company rules and structure. It can help members resolve differences about the company’s finances, operations, and goals. A valid operating contract signed by all members must be accepted in any state.
In addition to proper registration, some states require an LLC to publish the fact of its registration in the legal notices section of a newspaper in the jurisdiction. In most states, the fee for a foreign LLC registration is significantly higher. Otherwise, the information requested from the application is the same as for an LLC with its principal place of business in the state of registration. Not registering a foreign LLC may prevent you from suing or taking other legal actions within the state.
Registration forms and instructions are available online or at the appropriate state office. Typically, entering a search term such as “LLC Registration (state name)” will take you to the appropriate website. There are also online organizations that offer information and assistance with registering an LLC. Some companies also prepare and file the record for a fee. Online contact information is available for state registration agencies for anyone with questions or concerns about an LLC registration.
Asset Smart.
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