Forming a limited liability company (LLC) is a good business choice for someone who needs to have more capital invested without losing control of the organization. In a limited liability company, there are one or more general partners and one or more limited partners. Limited partners are liable only to the extent of their capital contribution to the company, but have no managerial powers. General partners are liable to the full extent of the company's debts, but retain day-to-day managerial powers. Forming an LLC is a relatively simple process, but one that must be done with attention to all details.
Fill out and return your articles of organization to the Secretary of State. Check all of your paperwork to ensure that all information is included. The articles of organization will include the name of your company followed by the initials LLC, the names of all partners, your principle location of business and any other information required by the state in which you incorporate.
Acquire the papers for your articles of organization from your chosen state's Secretary of State. Visit the Secretary of State's website in order to download or print off the articles of organization. They may also be called a certificate or organization.
Write your company's operating agreement. This agreement will describe the jobs of all partners, how many authorized shares are available and outline how your incorporated limited liability will be operated.
Decide where you want to incorporate your limited liability company. If you are operating a business within your own state only, incorporating in your state may be beneficial; however, it can be expensive to incorporate. Choose the state that has the easiest and cheapest process for incorporating your business.
Begin operating your business once your limited liability company has filed its articles of incorporation with a Secretary of State.
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