What are the required steps for forming a limited liability company (LLC) in Georgia?
To form an LLC in Georgia, the following steps are required:
-
Choose a name: The LLC must have a unique name that does not conflict with the name of any existing Georgia business. The name must include the words "Limited Liability Company" or the abbreviation "LLC."
-
File Articles of Organization: The LLC must file Articles of Organization with the Georgia Secretary of State. The filing fee is $100. The Articles of Organization must include the name of the LLC, the name and address of the registered agent, the name and address of the members, and the purpose of the business.
-
Obtain a business license: The LLC will need to obtain any necessary licenses and permits to operate its business in the state of Georgia. The requirements will vary depending on the type of business.
-
Obtain an EIN: The LLC will need to obtain an Employer Identification Number (EIN) from the Internal Revenue Service. This is required for tax purposes.
-
Draft an Operating Agreement: Although not required by Georgia law, it is highly recommended that the LLC draft an operating agreement. This document establishes the internal rules governing the LLC's operations and details how profits and losses will be distributed among the members.
-
Register with the Georgia Department of Revenue: The LLC must also register with the Georgia Department of Revenue to obtain a state tax identification number and to pay state taxes.
It is important to note that there may be other requirements depending on the specific nature of the business and the location of the LLC. It may be beneficial to consult with an attorney to ensure that all necessary steps are taken and all requirements are met.