If you’re a start-up or a small business owner considering forming an LLC, it is beneficial to know how you can set it up. Some processes make it longer or faster depending if you’re doing it on your own or getting a professional to get it done for you.
To take your business to the next step, you need to set up your LLC. Establishing an LLC will make your business more professional and trustworthy.
But more importantly, it sets up your business identity from your personal assets. You can freely start marketing with your business name proudly displayed in your materials.
Now, you’re probably asking, “What is the fastest way to set up an LLC?” The answer depends on how fast you can compile the requirements and how fast your state processed LLC filings. But ultimately, it depends on how fast you want to get it done.
Take a look at the steps you need to do to start your LLC.
Simplified Steps in Forming an LLC
- Choose a unique LLC name
- Gather and File Articles of Organization
- Hire a Registered Agent
- Choose Between Member Management or Manager Management
- Establish your LLC Operating Agreement
- Comply with Tax and Regulatory Requirements
- File Annual Reports
- Expand Your Business: Out of State LLC Registration
The Basics of LLC Formation
Let’s talk about how you will start an LLC and what you need to prepare. In case you have no idea yet, there are LLC formation services that make the whole process of forming your LLC faster than you handling it on your own.
Typically, you will be given three options to file an LLC: (1) online, (2) LLC agency’s local office, and (3) by mail. The fastest would either be online or through affordable company formation services. Now, let’s talk about these steps in detail.
Before you prepare any documents, you have to start with an available business name. You need a unique business name, one that is not yet taken by an existing business entity.
In most cases, there’s an online directory in your state available for checking, but it is not the same for other states. If that’s the case in your state, you can have it checked manually through phone or by mail.
Once you have a business name in mind, prepare your articles of organization to be submitted to your state’s secretary of state.
This should include the consenting form stating your chosen registered agent to act as the official correspondence on behalf of your LLC. They will be handling lawsuits and other official matters to keep you out of penalties and in good hands.
As you finalize your business name, registered agent, and articles of organization, check the rules of the articles of organization for your state.
Typically, it should include the name of your LLC, an address in the state where you are filing, the LLC’s purpose, and the name and address of your registered agent. And you will have to decide whether your LLC will be under member management or manager management.
Your state’s website for business filing has all the necessary forms and tools that you will need to prepare your articles of organization and submit them online.
Filing Your LLC
In most states, you can file your articles of organization online. This speeds up the whole process and takes a lot of time off waiting. But some states still require manually filling up a form and signing it. Then you will need to fax, mail, or hand-deliver it to the nearest state agency that processes business filings.
The processing time varies from one state to another. Some states take weeks before your LLC gets approved, while others offer expedited processing for those willing to pay an additional fee depending on how fast you need your LLC approved.
Once approved, you will receive a certificate from your state saying that your LLC is now an official business entity.
Tips for Faster LLC Formation
If you’re in a rush of setting up an LLC, there is no better way than getting LLC creation service from professionals. They will make the process as quick and efficient as possible, taking note of your every request along the way.
In addition, make sure that your chosen business name is available before you submit your articles of organization. Completely and accurately fill out your articles of organization to avoid chances of getting declined or asked for revisions.
If your state offers online filing, choose to set it up electronically. If your state still requires handwritten forms, make sure to have them mailed, faxed, or delivered overnight to avoid delays. And if your budget permits, be ready to pay for expedited processing.
All of these tips make your business formation faster than it usually takes.
Consider Getting LLC Services For Your Business
Once your LLC is formed, there are a lot of things that you need to get done. It is why we highly recommend that you consider getting the best LLC service to make the whole process before and after registration more effortless for you.
At first, you’ll need to get a federal tax ID number and a bank account under your LLC.
Next, you should be thinking of how your LLC will be taxed. LLCs are taxed like sole proprietorships or partnerships by default. But as an LLC, you get the privilege to choose to get taxed like a corporation. You can get an accountant to give you proper advice on this matter as they will be the ones handling your business’ finances.
As LegalZoom stated, filing an LLC can take a few days to several weeks, depending on how fast you can get things done. Filling up the paperwork is the easiest part.
Still, the amount of work needed to fill it up might take your precious time away from more important matters. It is why trusting LLC formation services might be a better route for your business registration.
