What steps do I need to take to form an LLC in Ohio?
To form an LLC in Ohio, you must follow these steps:
- Choose a name for your LLC that complies with Ohio's naming requirements. The name must include the term "Limited Liability Company" or an abbreviation like "LLC" or "L.L.C." The name must also be distinguishable from the names of other businesses registered in Ohio.
- File Articles of Organization with the Ohio Secretary of State. You can file online or by mail. The Articles of Organization must include the LLC's name and address, the names and addresses of the LLC's members or managers, and a statement of the LLC's purpose.
- Obtain any necessary licenses and permits. Depending on the nature of your business, you may need to obtain licenses or permits from state and local authorities.
- Create an Operating Agreement. Ohio law does not require an LLC to have an Operating Agreement, but it is a good idea to create one to outline the rights and responsibilities of each member, the LLC's management structure, and procedures for decision-making.
- Obtain an EIN (Employer Identification Number) from the IRS. An EIN is required to open a bank account, file tax returns, and hire employees.
- File annual reports with the Ohio Secretary of State. LLCs in Ohio are required to file an annual report with the Ohio Secretary of State each year by the anniversary date of the LLC's formation.
It is important to note that the above steps are general guidelines and may not apply to every situation. There may be exceptions or additional steps required depending on the specifics of your business and the location. It is recommended to consult with a licensed attorney to ensure compliance with all applicable laws and regulations.