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Forming an LLC in Ohio
Forming an LLC in Ohio is not very tricky, because the regulations have been created to stimulate small businesses and require only the slightest amount of administrative work. Hiring the services of an incorporation company can make forming an LLC in Ohio even easier since they will do all the paperwork for you. Although it is not demanded by law to have an attorney go over the Operating Agreement, the safest bet is still to have that done. Having a faulty Operating Agreement can lead to significant problems with the IRS.
Forming an LLC in Ohio in 5 easy steps
- The first step is to select a name for your LLC. The name cannot be used by another LLC already and you must of course refrain from violating any trademark. You are not allowed to imply that your LLC is a corporation or partnership. The following terms, including their abbreviations, are therefore prohibited: "limited partnership", "limited liability partnership", "limited liability limited partnership", "incorporated" and "corporation".
- During the second step, you will contact the state filing office in Ohio and formally file the Articles of Organization.
- During the third step, an Operating Agreement needs to be established during an organizational meeting including all of the members of the LLC.
- For the fourth step, after the Operating Agreement is put into action, the LLC needs to open up a bank account for the LLC and obtain a FEIN (Federal Employer Identification Number).
- The fifth and final step is to obtain a business license from every city or county in which the LLC wants to do business.
Important facts to take into consideration before forming an LLC in Ohio
- The minimum filing fee in Ohio is $125.00. (For 25 business days.)
- Annual Reports are due by June 30th every even year. The annual report fee is $25.00.
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