LLC in Louisiana: Everything You Need to Know
In Louisiana, limited liability companies (LLCs) are commonly regarded as one of the more simple business structures. 3 min read
LLCs in Louisiana
In Louisiana, limited liability companies (LLCs) are commonly regarded as one of the more simple business structures. Unsurprisingly, the LLC is a popular business structure among business owners and entrepreneurs. In comparison to corporations, LLCs have a far more flexible structure. Other perks that contribute to the popularity of LLCs are pass-through taxes, limited liability, and legal protection for the personal assets of the owner or founder.
Starting an LLC in Louisiana: Background
Prior to starting the registration process, you should conduct some research to make sure you know what an LLC is and whether the structure is viable for your business. Be sure you know the basics of an LLC and the advantages and disadvantages.
Starting an LLC in Louisiana: Turnaround Time
The processing time for an application for the formation of an LLC depends on how many applications are waiting to be processed. In general, forms and documents for the formation of an LLC are processed within five business days. However, if you need these forms and documents to be processed rapidly, you can pay an additional fee to expedite the process.
Starting an LLC in Louisiana: Name Your LLC
One of the most important steps in the process of forming an LLC is coming up with a name. To come up with a suitable name for your business, you should conduct research. The ideal name is relevant to the business venture and clear to potential customers. In the state of Louisiana, you are required to include the words "Limited Liability Company" or an abbreviation somewhere in the name of your LLC.
The name of a low-profit limited liability company (SMLLC) is required to include the words "Low-Profit Limited Liability Company." Some abbreviations are "l3c" and "L3C."
Some words are restricted when it comes to the names of LLCs. If you want to include a word that is restricted in the name of your LLC, you need to fill out extra paperwork. The state of Louisiana may require that you have a licensed individual join your LLC before you're able to use the restricted word in the name of the LLC.
You cannot include words in the name of your business that may imply that it is a charitable organization or non-profit. Other prohibited words are those typically associated with federal or state agencies.
You need to have the name of your business approved by the secretary of state. For your proposed name to be approved, it needs to be distinguishable when compared to the names of all the other businesses registered with the Louisiana Secretary of State.
To make sure your proposed name isn't already in use by another business, you should do a name search by going to the website of the State of Louisiana. You can call the secretary of state at 225-925-4704 to determine whether the name you want for your LLC is still available. You can also fax the secretary of state's office at 225-932-5314, or you can mail your query. You also have the option of checking the commercial database on the secretary of state's website.
In the meantime, you should also do the following:
- Reserve a domain name for your LLC as soon as possible. That way, you won't have to deal with acquiring the domain name from another person or group later on.
- Consider a professional email (@yourcompany.com) when choosing a name for your LLC. You can get a professional email by using Google apps.
- Gain access to business-grade security, top business tools, and cloud storage for your LLC.
Starting an LLC in Louisiana: Reserve Your Name
You can reserve a name by filing a Name Reservation for Limited Liability Company or Corporation form with the secretary of state (Form 398). You can reserve a name by mail or online. The $25 filing fee is nonrefundable.
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