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What legal steps should you take before starting a business as an LLC in Ohio?

Picture of Chris Battis By   ·  1 minute read

Before starting a business as an LLC in Ohio, there are several legal steps that you should take.

  1. You will need to choose a name for your LLC that complies with Ohio's naming requirements. The name must include "LLC" or "Limited Liability Company," cannot be the same as another LLC on file with the Ohio Secretary of State, and cannot imply that the company is engaged in illegal activities or is affiliated with a government agency.

  2. Next, you will need to file articles of organization with the Ohio Secretary of State's office. The articles of organization must include the name of the LLC, the name and address of the registered agent, and the names and addresses of the LLC's members. The filing fee for articles of organization is $99.

  3. After filing the articles of organization, you should obtain an employer identification number (EIN) from the IRS. The EIN is used for tax purposes and is required if the LLC will have employees or if it will be taxed as a corporation.

  4. You should also consider drafting an operating agreement that outlines the provisions governing the LLC's management, distribution of profits and losses, and other important details. Although an operating agreement is not required under Ohio law, it is a valuable tool for organizing and managing the LLC.

  5. Additionally, you should obtain any necessary licenses and permits required for your business. The specific licenses and permits required will depend on the type of business you are operating and its location.

  6. Finally, you should obtain appropriate insurance coverage to protect your LLC and its members from liability. This may include general liability insurance, professional liability insurance, and workers' compensation insurance.

It is important to note that this advice is intended for general informational purposes only and should not be relied upon as a substitute for legal advice from a licensed attorney. Depending on the specific circumstances of your business, there may be additional legal requirements or considerations that should be taken into account.