Form for LLC: Everything You Need to Know
The main form for LLC is known as the Articles of Organization. This form includes important information about your LLC and is required when registering.3 min read
The main form for LLC is known as the Articles of Organization. This form includes important information about your limited liability company (LLC) and is required when registering with your state.
Legal Forms for LLC
You will need to submit Articles of Organization with your state if you wish to form an LLC. In addition, you may need to make use of a Meeting Minutes form if your company holds annual member or shareholder meetings.
When you want to create rules for how your LLC will be operated, you will need to use an LLC Operating Agreement Form. If your LLC is manager-managed, you will us a Manager-Managed LLC Operating Agreement Form. You will use a Single-Member LLC Operating Agreement Form if your limited liability company is managed by a single member. Lastly, for multi-member LLCs, you will need a Multi-Member Operating Agreement Form.
In your operating agreement, you can list the initial contributions made by each member of your LLC. You can also include this information in an LLC Capital Contribution Form.
An LLC Bank Account Form is needed when you open a bank account for your company. To obtain an employer identification number (EIN) for your business, you can use an LLC EIN Form.
LLC members that are interested in making company resolutions will need an LLC Member Resolution Form. Similarly, if a manager wants to make a company resolution, they must use the LLC Manager Resolution Form.
Occasionally, an LLC will need to amend documents such as the Articles of Organization or Certificate of Formation, which requires the use of Articles of Amendment. An LLC Operating Agreement Amendment is used to make changes to the company's original operating agreement.
Some LLCs will fund the company by exchanging personal assets for a membership stake. In these cases, an LLC Capital Contributions Bill of Sale is required. You can use an LLC Membership Interest Bill of Sale to sell your LLC ownership's interests.
Basics of Forming an LLC
You can either convert an existing business into an LLC or start a completely new business. Limited liability companies are very similar to partnerships and corporations. When you form an LLC, you will be part of the company tax and operational flexibility of a partnership, the strong personal asset of the protections of a corporation.
LLC owners are commonly referred to as members. Typically, management of an LLC will be the responsibility of the company's members. However, it's possible to name an outside manager in the company's formation documents.
LLCs must be formed under state laws that are specific to this type of business structure. All fifty states have their own rules for LLC formation. Since state rules are generally straightforward, you can usually form an LLC yourself, but hiring an attorney is recommended. Most states will not mandate filing annual LLC reports. That being said, it's a good idea to document your business activities and hole at least one annual meeting.
In certain states, you may need to pay annual LLC taxes and fees, which can reduce the benefits of this business structure.
Steps for Forming an LLC
With the right advice, forming an LLC is actually very simple.
First, you will need to pick out a memorable, distinct name for your LLC. You will need to follow state naming conventions when choosing your company's name. Check with your Secretary of State for exact naming requirements. Every state has different naming rules. Your LLC's name cannot be similar to or easily confused with the name of another company.
When naming your company, you will need to use an LLC designator:
- Limited Liability Company.
- Limited Company.
Some words cannot be used in your company's name. Prohibited words include:
The LLC office in your state should be able to help you determine if your chosen name is free to use. If your LLC name is available, you may be able to reserve this name by paying a small fee. However, the reservation period will likely be very brief. You must also be absolutely sure that the name you have picked for your LLC does not violate a registered trademark at the federal level.
After you've found a name that is free and legal to use, you likely won't need to register this name separately. Your LLC name will be registered by including it in your Articles of Organization.
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