Creating an LLC: 5 Key Things to Consider
Creating an LLC can be intimidating, especially if you’re new to the legal world2 min read
Creating an LLC can be intimidating, especially if you’re new to the legal world. But with the right information, you can get your LLC up and running without a hitch. This guide will help you consider five key issues when creating an LLC in Los Angeles, and how to make sure you’ve covered all your legal bases.
First of all, it’s important to know what an LLC is. An LLC (limited liability company) is a business structure that provides personal liability protection for its owners, or “members.” This means that if something goes wrong with your LLC, your personal assets, such as your home or car, won’t be impacted.
If you’re looking to create an LLC in Los Angeles, there are several key points to consider. Here are five of the most important:
1. Choose a Name
When registering your LLC, you’ll need to pick a unique name that hasn’t been registered by anyone else in the state of California. This name must end with either “limited liability company” or “LLC.” Additionally, you must check to make sure the name isn’t trademarked or already in use by someone else.
2. Get a Registered Agent
If you’re forming an LLC in California, you’ll need to appoint a registered agent. This is an individual or entity located in the same state who’s responsible for receiving service of process (SOP) in the event of any legal notices or documents.
3. Draft Your LLC Documents
You’ll also need to draft various documents for your LLC, such as an LLC operating agreement. This document outlines the duties and responsibilities of each LLC member, how profits and losses will be divided among members, how decisions will be made, and more.
4. File Your Articles of Organization
Once you’ve completed the above steps, you’ll need to file the Articles of Organization with the California Secretary of State. This document officially registers your LLC in the state.
5. Obtain Licenses and Permits
In order to operate legally as an LLC in Los Angeles, you may need to obtain various licenses and permits from the state, county, or city. Depending on the specifics of your business, you may need to register with your local zoning commission or obtain a professional license from the state.
Creating an LLC in Los Angeles doesn’t have to be a daunting task. As long as you cover all your legal bases, you can get started with your new business smoothly and efficiently. Start by considering the five steps outlined above, and you’ll be on your way to becoming an LLC in no time.