set up an llc

7 steps to set up an LLC

In trucking business, set up an llc  is a smart move that can provide you with several benefits. Here are seven steps to help you get started.

If you’re a trucking business owner operator, then you know that there are many benefits to incorporating your business. Setting up an LLC can protect your assets and provide other important legal protections. But forming an LLC isn’t always easy, so here are seven steps to help you get started.

An LLC is one of the most popular legal business structures in the United States. It has all of the benefits of a corporation with a few of the negatives.

This article will go over 7 steps to set up an LLC.

Choose a state:

When forming an LLC, you will need to choose a state in which to incorporate. Each state has its own set of laws governing LLCs. You should do some research before deciding on a state. The website of the Secretary of State will have information for your state about forming an LLC.

Once you choose a state, you need to search the database provided by the Secretary of State to ensure that the name you want is available. Some states, like New York, allow any name except those already reserved or used by another business entity on record. If your desired name is not available, you will need to come up with another name for your LLC.

Decide on a business name

Your business name will be important for marketing purposes and for identifying your company in legal documents. Make sure the name is available as a registered trademark before you set up an LLC. You can do a free search on the United States Patent and Trademark Office website.

This step is very similar to step 1, except that you are searching the records from the state in which you filed your articles for LLCs that have been registered with that state. You can usually search by name or EIN/tax ID number and find out immediately whether an LLC with your desired name is registered.

If the name is taken, either by a business that was previously registered or someone who reserved it after you tried to register it, then you will need to come up with a different one. If no other LLCs are using your desired LLC name, then you can proceed.

Elect a manager (if desired):

Many states allow for LLCs to be managed by one or more managers instead of members. If you would like to have a manager, this needs to be stated in the articles of incorporation. The manager can be a member or an outsider and is responsible for the day-to-day operations of the LLC. If you do not elect a manager, then the members will have more involvement in running the LLC.

Most states require a registered agent to accept service of any legal documents that are filed against your business, as well as official notices from the state. A registered agent is responsible for forwarding these documents to the business owners. You can designate someone who lives in the state where your LLC is registered or you can hire a professional registered agent service.

File articles of organization to set up an llc

Once you have chosen a state and confirmed that your desired name is available, you will need to create articles of incorporation. This document will include basic information about the set up of an llc, such as the name, registered agent, and the principal office address.

After you have created your articles of incorporation, you will need to file them with the state in which you incorporated them. This usually requires a filing fee. You can sometimes pay extra for expedited service so that your LLC is established sooner rather than later. Filing fees vary by state but are usually around $100.

Your articles of incorporation will need to contain certain information. You can find a free template online or consult an attorney for help in drafting your articles. This legal document is very important because it officially establishes your LLC. Certain decisions, such as whether you will have managers, members, or both, are determined by the laws of your state and the articles of incorporation.

set up an llc

After you have created your articles of incorporation and named your LLC, you will need to file them with the state. This can usually be done online. You will also need to pay a filing fee, which again varies by state but is typically around $100.

Obtain an EIN to set up an llc:

An EIN is a nine-digit number that the IRS uses to identify your business. You’ll need to apply for an EIN online or by mail.

An EIN, or Employer Identification Number, is used by the IRS to track tax information for businesses. It is free to obtain an EIN and can be done online. The application only takes a few minutes to complete. Don’t forget to include your LLC’s name and EIN on all of your tax documents.

Issue membership certificates:

After your LLC is officially established, you will need to issue membership certificates to the owners (or members) of the LLC. This document verifies the ownership of the LLC and is usually a simple form that can be completed online.

Obtain business licenses and permits

Depending on your business, you may need to obtain various licenses and permits. Check with your state’s LLC filing office or the Secretary of State website to find out which licenses and permits are required in your state.

In short, setting up an LLC is only the start, you also have to keep an annual report with you that updates information about fee annually.

 

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