How Do You Put Together Articles Of Organization
It will be necessary to get a Federal Employee Identification Number. These are simple and easy to get, but required for tax purposes. Eventually your employees will need these too, it you end up getting any. The EIN is a good example of a Tax Identification Number. You will use this often. Especially if you get a business license or a bank and checking account.
Simply go to IRS.org to get the phone number to get the EIN. They will want to know the name of the LLC you are looking to get (first check with the state to make sure that the LLC you want is available). You will give this name and other information about yourself, including any previous company EIN numbers if you can. It isn’t mandatory. When this is done you can complete the remainder of the form.
First you are going to need a title. What is nice is that you have the option of llc, LLC, L.L.C., Limited Liability Company or whatever attachment you want with your company name. I simply use LLC. I find it easy that way without the periods or the long name. I like it capitalized to have the LLC recognized if you put it on a sign some day, but at the same time abbreviated so that doesn’t take away from your name.
Next you are going to set up what type of company you are starting. You need to make sure you explain what you are setting up correctly because there are certain businesses (depending on the state) that require you to set up for sales tax on your business if it involves food, alcohol, cigarettes, clothing stores, etc. They will ask you questions to verify what type of business you have. Be honest and specific because this will save you a lot of hassle, even if it means more taxes. You always want to be safe side.
Next you need a registered agent. This has to be a person that resides in the state that represents the company. This can be a member, manager, or employee of the LLC. Also you can have a representative such as a lawyer complete this for you, but that might require more money if you want to save time.
Next you have to decide if your business is member managed or manager managed. Members are similar to shareholders while a manager is assigned by the members to take care of the day to day operations. It is really up to the members as far as how much they want to be involved in the decision making process. You can have as many managers or members as you need. You need to decide the structure of your business so your make these choices correctly.
Next you need to set up your members and make sure you have middle names and social security numbers of every member. You can’t get around this. Then you are going to have to set up a designated office. You are going to need to keep records at this place of business. You will have to have three years of tax statements, all of your LLC information, and an alphabetical order list of all organizers in your business and their addresses.
Finally set the amount of years you want to keep an LLC. The most you can set it up for is 99 years. It is up to you, but I would set it up for 99 years. You can always get out of it, but if you set it up for that long then there is a good chance that the LLC will outlive you and you can pass it on to family members.
After you are all done with all of the information with your business then you will hopefully be approved for a company and get you Articles of Organization with a stamp of approval. Next you will need to set up a business license according to the requirements of the city you are in. There could be more requirements if you are selling a product of some kind. Check with your city to find out all of the necessary information.
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Filed Under Starting A Business |
Tagged With EIN, Federal-Employee-Identification-Number, IRS, L.L.C., Limited-Liability-Company, manager-managed, member-managed, registered-agent
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First of all Good Luck in starting your business. Just recently I came upon a very helpful site. If you check it out you’ll see that on the site you can find out which licenses and permits you would need. In addition you can also buy the forms and applications and they offer a variety of choices how to file for your permits. The site is businesslicenses.com.
Enjoy and Good Luck!