To form a limited liability company (LLC) in Ohio, you should complete the following legal steps:
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Choose a name for your LLC: You need to choose a unique name not currently in use by another business entity in Ohio. You can conduct a name search on the Ohio Secretary of State's online database to see if your desired name is available.
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Draft and file Articles of Organization: Ohio requires LLCs to file Articles of Organization with the Ohio Secretary of State. The articles must contain the LLC's name, address, and the name and address of its registered agent. A registered agent is a person or entity designated to receive legal documents on behalf of the LLC. The articles can be filed online or by mail, and there is a fee to file.
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Create an Operating Agreement: Although Ohio law does not require an LLC to have an operating agreement, creating one is highly recommended. An operating agreement establishes the owners' rights, duties, and obligations, as well as rules for the LLC's management and operation.
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Obtain any necessary licenses and permits: Depending on the nature of your LLC's business, you may need to obtain licenses and permits from state or local government agencies. Check with the Ohio Small Business Development Center or the Ohio Department of Commerce for more information.
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Obtain an Employer Identification Number (EIN): An EIN is a unique nine-digit number assigned by the Internal Revenue Service (IRS) to identify your LLC for tax purposes. You can apply for an EIN online through the IRS website, and there is no fee.
It is important to note that forming an LLC does not guarantee limited liability protection for its owners. To ensure that your personal assets are protected from business liabilities, you should maintain separate bank accounts and financial records for the LLC and avoid commingling personal and business funds. Additionally, seek the advice of a licensed attorney to ensure compliance with all applicable laws and regulations.
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