To form a Limited Liability Company (LLC) in Pennsylvania, the following steps should be taken:
- Choose a name for your LLC: The name must end with the words 'Limited Liability Company', 'LLC' or 'L.L.C.' The name should also be distinguishable from other business entities' names registered with the Pennsylvania Department of State.
- Assign a registered agent: A registered agent is responsible for receiving legal documents and correspondence from the state on behalf of the LLC. The registered agent must have a physical address in Pennsylvania.
- File Articles of Organization: You must file Articles of Organization with the Pennsylvania Department of State. Forms can be downloaded from the Department of State's website. The filing fee is $125.00.
- Create an Operating Agreement: An operating agreement outlines the management, ownership, structure, and operating procedures of the LLC. Although an Operating Agreement is not required in Pennsylvania, it is highly recommended.
- Obtain necessary licenses and permits: Depending on the nature of your business, you may need to obtain certain licenses and permits from local and state government entities.
- Obtain an EIN: An Employer Identification Number (EIN) is required for federal tax purposes. This number is assigned to each LLC by the Internal Revenue Service (IRS), and can be obtained through the IRS website.
- File an Annual Report: Every year, all LLCs operating within Pennsylvania are required to file an Annual Report with the Department of State. The filing fee for the annual report is $70.00.
It should be noted that the steps required to form an LLC in Pennsylvania may be subject to change based on updates to relevant laws and regulations. It is recommended that individuals consult with a licensed attorney for guidance specific to their circumstances.
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