Creating an LLC in Los Angeles: Step-by-Step Guide
Starting a Limited Liability Company (LLC) in Los Angeles can be a complicated endeavor3 min read
Starting a Limited Liability Company (LLC) in Los Angeles can be a complicated endeavor. There are a lot of factors you need to consider, such as navigating state and local regulations, deciding on a business structure and appointing team members. Fortunately, having guidance from a skilled attorney can make this process go much more efficiently. If you’re looking for counsel specifically versed in Los Angeles regulation, the team of experienced business lawyers on UpCounsel know exactly what you need to do to get your LLC up and running. Here’s a step-by-step guide to help you create an LLC in Los Angeles.
Step One: Choose a Business Structure
The business structure you choose will have long-term implications for your LLC, so it’s important to select one that works for both your goals and the desired outcome of your business. The most common business structures for LLCs in Los Angeles are a sole proprietorship, partnership, or corporation. Each of these structures have distinct characteristics that could be more or less suited to the needs of a certain LLC. Speak with a business lawyer to get advice on which structure works best for your business.
Step Two: Choose a Name for Your LLC
Your LLC needs to have a distinct name that sets it apart from other businesses. The name you choose should not interfere with or duplicate any existing names. If you’re stuck for ideas, some helpful tips are to use a combination of traditional and modern words, consider using an alliteration, or draw inspiration from the city of Los Angeles. Make sure to check the availability of your chosen name with your business lawyer.
Step Three: Select a Registered Agent for Your LLC
Your LLC needs to have an official registered agent for certain legal matters. This person can either be a part of your LLC or an outside entity who agrees to accept mail and process legal documents on behalf of the company. You can also hire a registered agent service who will maintain the registered agent’s official responsibilities.
Step Four: File Articles of Organization
Once the other steps are complete, you can begin filing for the official registration of your business. The very first step is to submit your Articles of Organization to the California Secretary of State. This document should include information such as the company’s name, address, and members’ names and contact information.
Step Five: Draft Your Operating Agreement for the LLC
You should draft an operating agreement for your LLC before it officially begins operations. This document should include the detailed information regarding your LLC’s management, financial responsibilities, ownership and more. This document should be thorough and detailed in order to ensure that the LLC is operating according to the wishes of its members. Reach out to an attorney for more information on creating a comprehensive operating agreement.
Step Six: Obtain the Necessary Licenses and Permits
To conduct business in Los Angeles, you’ll need to get the necessary licenses and permits from the state. Depending on the type of business you’re running, there may be state or local regulations that need to be followed. Speak to a legal professional to confirm the licenses and permits you need to get your LLC up and running.
Step Seven: Create a Business Bank Account
It’s important to keep your personal finances separate from those of the business. This means setting up a separate bank account for your LLC. Opening a separate bank account will make it easier to track, organize and manage your financial records. Speak with your attorney to get advice on the right account for LLCs in Los Angeles.
Creating an LLC in Los Angeles can seem daunting, but with the right guidance and professional counsel, it doesn’t have to be. If you need legal help getting your LLC up and running, don’t hesitate to reach out to a business lawyer on UpCounsel. They have a wide network of experienced lawyers who can give you the advice and assistance you need to launch a successful LLC.