What are the requirements and steps for forming a limited liability company (LLC) in Ohio?

To form a limited liability company (LLC) in Ohio, there are specific requirements and steps that must be followed. The following information provides a detailed explanation of these requirements and steps, based on current Ohio laws and legal precedents.

1. Choose a name for your LLC: The first step in forming an LLC in Ohio is to choose a name for your company that meets the state's requirements. The name must be unique and not already in use by another LLC. Additionally, the name must include either "Limited Liability Company," "L.L.C.," or "LLC."
2. File Articles of Organization: After selecting a name, you must file Articles of Organization with the Ohio Secretary of State. This filing must include the name of the LLC, the address of its registered office, the name and address of the LLC's registered agent, and a statement indicating the duration of the LLC's existence, which may be perpetual.
3. Designate a registered agent: The registered agent is a person or entity designated to receive service of process, summons, and any other legal notices on behalf of the LLC. The registered agent must have a physical address in Ohio.
4. Obtain any necessary licenses and permits: Depending on the type of business, certain licenses or permits may be necessary to operate legally in Ohio. It is essential to research and obtain any applicable licenses or permits before beginning operations.
5. Create an Operating Agreement: While not required by Ohio law, it is advisable to create an Operating Agreement outlining the LLC's management structure, members' responsibilities, and how profits and losses will be distributed. This document should also include provisions for adding or removing members, selling the LLC's assets, and dissolving the LLC.
6. Obtain an EIN: An Employer Identification Number (EIN) is required to open a business bank account, apply for licenses and permits, and file taxes. An EIN can be obtained from the Internal Revenue Service (IRS) by filing Form SS-4.
7. File annual reports: LLCs in Ohio must file an Annual Report with the Ohio Secretary of State every year to maintain their good standing. The report must include the name of the LLC, its principal business address, the name and address of the registered agent, and the names and business addresses of any managers or members.

In summary, to form an LLC in Ohio, one should choose a unique name, file Articles of Organization with the Ohio Secretary of State, designate a registered agent, obtain necessary licenses and permits, create an Operating Agreement, obtain an EIN, and file Annual Reports. It is important to note that this information is general and may not apply to every situation. It is advisable to seek the advice of a licensed attorney for guidance specific to your individual circumstances.