What are the steps I need to take in Ohio to create an LLC for my small business?
To create an LLC in Ohio for your small business, you will need to take the following steps:
Select a name for your LLC: The name must not be identical to another name already registered with the Ohio Secretary of State, must not use prohibited words, and must include the words "Limited Liability Company" or abbreviations such as "LLC."
Appoint a registered agent: Ohio law requires that each LLC have a registered agent in the state who will receive legal notices and other important correspondence on behalf of the company. The agent must have a physical address in Ohio.
File Articles of Organization: You must file this form with the Ohio Secretary of State, providing information including the name and address of the LLC, the names and addresses of the members, the duration of the LLC (if not perpetual), and the name and address of the registered agent.
Obtain an Ohio tax identification number: Ohio law also requires that all LLCs operating in Ohio obtain a tax identification number from the Ohio Department of Taxation.
File necessary forms with city/county: Depending on the city/county where your business operates, you may need to file additional forms and pay fees. For example, businesses in Cincinnati must file an annual declaration and pay a $50 registration fee.
Draft an operating agreement: Although not required by Ohio law, it is recommended that the LLC draft an operating agreement to specify how the business will be run, how profits and losses will be divided among the members, and how disputes and other issues will be resolved.
Obtain necessary permits and licenses: Depending on the type of business you operate, you may need to obtain additional permits and licenses (e.g. liquor license, vendor’s permit, zoning permit).
It is important to note that the above steps may not be exhaustive and could vary based on the specific facts of your situation. It is recommended that you consult with an experienced attorney to ensure that all legal requirements are met and to answer any additional questions you may have.