Missouri LLC Formation: Everything You Need to Know
Missouri LLC formation requires several important steps, including a proper name for your company and filing the correct formation documents.3 min read
Missouri LLC formation requires several important steps, including a proper name for your company and filing the correct formation documents. You will also need to pay certain filing fees before your company will be formally registered.
Basic Steps to Forming a Missouri LLC
One of the biggest benefits of establishing your limited liability company (LLC) in Missouri is that you will not need to file any ongoing paperwork or pay annual fees. That said, there are certain financial responsibilities, such as paying taxes, that your company will still need to fulfill.
When you're starting your company, you will need to include several pieces of information in your formation documents.
- Your LLC name.
- The address of your business.
- The name of the person(s) forming your company and the name of your manager(s).
- The industry in which your company is involved.
- A statement of purpose.
Picking Your Company Name
The first step of Missouri LLC formation is choosing an appropriate name for your LLC and then securing your company name. When choosing your name, you should make sure that it is not similar to another company's name and that you aren't using any words restricted by the state. You can visit the website of the Missouri Secretary of State to make sure that your desired LLC name is not already registered. It's also a good idea to search the U.S. Patent Office's TESS system to guarantee that your name will not violate a registered trademark.
Whatever name you settle on for your business, it should include the words Limited Company or Limited Liability Company. You can also use abbreviations of these words. Once you've found an available LLC name, you should reserve your name by mailing an Application for Reservation of Name. You should be sure to include a $25 filing fee with this application. You should remember that reserving your LLC name is a requirement in Missouri.
Prior to filing your reservation application, you should do some research to see if there is a suitable URL that matches the name for your business. If you find an appropriate URL, you should purchase it as soon as possible. Securing a domain name will allow your customers to easily find your business.
Appoint a Registered Agent
Hiring a Registered Agent is the next step needed to form your LLC. Your Missouri Registered Agent can either be a resident of the state or a business entity allowed to do business in the state and that can be contacted during normal business hours. Your registered agent will receive legal documents mailed to your business, including tax documents and notifications that you are being sued. Your business is legally required to have a registered agent.
File Formation Documents
After you have chosen an LLC name and hired a Registered Agent, you will need to file your company's Articles of Organization. You can download this document from the Secretary of State's website. After you've completed your Articles of Organization, you can mail this form, along with a $105 filing fee, directly to the secretary of state. You can also file online, which only costs $50. Your Articles of Organization should list some basic information about your LLC, including your name, the purpose of your company, and ownership percentages.
Obtain an EIN and Open a Bank Account
Your LLC will need to acquire an Employer Identification Number (EIN), which is a number that the government will use to track the activities of your business. Obtaining an EIN is mandatory, as you will not be able to hire employees or pay your taxes without this number. You can apply for your EIN online with the Internal Revenue Service.
After you've received your EIN, you need to open a business bank account. Having a business bank account will help you to keep your business and personal finances separate, which is crucial if you want to maintain your personal liability protections. You should do your research to make sure you're getting a bank account that meets the needs of your business.
LLC Operating Agreement
You should also write an operating agreement for your LLC. While you are not legally required to have this document, an operating agreement can make running your business easier and more effective. In your document, you should fully explain the responsibilities of both your company members and managers. You should also describe ownership percentages and how you will distribute profits.
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