how to become an llc has a series of complex steps that you must take in order to establish a limited liability corporation in your state. An LLC is a favorite small business entity due to the convenience of incorporation, the protection for personal assets, and perhaps the lack of other formal requirements, like meetings and board of directors. Most entrepreneurs jump right into incorporating an LLC because it is so easy and inexpensive. Unfortunately, being an LLC is not as simple as it sounds, but the process does not have to be expensive or time consuming.

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The first step in how to become an LLC is to file your articles of incorporation with the state. Most states require an active Limited Liability Company filing agent who lives in the state to assist the process. Filing your Articles of Incorporation does not have to be done by the end of the business year; you may file as early as the first day of the new year. If you are incorporating a company that will be registered under its Employer Identification Number (EIN), you may not need an office location for its filing. You can file your Articles of Organization at any office where EIN is filed.

 

After filing your Articles of Organization, you will next need to register your LLC. To do this, you will need to visit the local office of the Secretary of State, or check online. After registering your LLC, you will receive a Registration of Business Name (RNB) and Business Number (BN). The RNB serves as your company name, BN is the corporate address, and your LLC is the LLC's entity number.

How to Become an LLC - 5 Steps to Follow

 

The next step on how to become an LLC is to hire a registered agent. A registered agent is a person who can act on behalf of your LLC in many ways. For instance, he can sign checks, send out electronic mail to LLC members, and transfer money from your account to theirs. You should only have one registered agent per LLC. This also makes him the face of your business. Once your registered agent is hired, you will need to follow specific procedures in filing your Articles of Organization.

 

After you have all of these things in place, you will not be required to appear at the quarterly meetings of your LLC, nor will you have to file any additional forms with the state. If you are forming an LLC in a different state, you will have to file a statement of authority with that state's office. An example of this would be if you are a sole proprietor with a storefront in Texas, you will not need to file a statement with the Texas Department of Public Health.

 

The last step on how to become an LLC is to choose which tax status for your LLC will work best. There are three basic options available: sole proprietorship (the earliest status available), a general partnership, or a corporation. Each has its pros and cons when it comes to using them when Forming an LLC.

 

As you can see, the first three steps on how to become an LLC are simple. The last step on the list is the most difficult, and involves paying a filing fee, purchasing organizational papers, and having your agent serve notice of your intention to LLC. One reason this step is so difficult is because most people don't know about it. Most people assume that there is no filing fee. However, if you want to have the most affordable way to get started, start with the sole proprietorship option.

 

Once you have all of these things in place, the next five steps to how to become an LLC are equally as simple. The fifth step is to choose a name for your LLC. A good name to start with is "Limited Liability Company," which means that your LLC will be able to limit its liability to that particular business. Be sure to keep this sentence simple: have a strong first sentence and strong verbs in the second sentence.

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