As a small business owner or startup, you understand that liabilities and taxes are a big part of establishing and operating your business. You want to figure out the best ways to avoid them, and deciding whether to incorporate your business as an LLC or an S-Corp is significant part of that. There are many pros and cons to deciding which approach to take. Nevada Small Business Consulting offers consulting services that will assist you in deciding the best approach to take for your business. In this article, we outline some of the most frequently asked questions associated with Setting Up Your Business as an LLC.
Am I required to include “LLC” my company name? As an LLC, you will be required to involve the designation “LLC” or a variation, such as the full spelling of “Limited Liability Company” in your company name in order to designate it as an LLC. Other than th inclusion of LLC in your listed company name, you are capable of naming your company LLC anything you would like, as long as it is unique to any other company name in your state.
Am I required to establish a tax number for my LLC? Absolutely. It will be necessary for every business with LLC status to acquire a tax ID, otherwise known as an Employer ID. It is similar to having Social Security Number for your business.
Do I need an legal consultation in order to establish an LLC?As a business with LLC status, you will required to obtain the following documents:
- Articles of Organization to register your LLC with your state (In some states, you file will need to obtain a Certificate of Organization alternatively.
- An Operating Agreement, which is a document used by LLCs because it outlines the business’ financial and functional decisions including rules, regulations and provisions.
Am I required to register the LLC name with my state? As an LLC, you it will be necessary for you to register your LLC with any state in which you conduct business. If you perform your business services in multiple states, you will be required register your company as an LLC within each of those states.
Can any type of business form as an LLC? The short answer is No, some business types cannot be formed as an LLC. Before you attempt to establish your LLC, it is recommend that you seek the guidance of a Small Business Consulting in Nevada or attorney to verify that your State allows the use of an LLC for your particular business type.
Nevada Small Business Consulting offers services to assist in all aspects of forming an LLC, we will make sure that you have all of the necessary paperwork filed with the state where your business is located. We will ensure that you adhere to all of the rules and procedures of your specific state. Contact us today at (702) 758-4691 to schedule a no-cost initial consultation and learn more about the services we can provide for your business.