What are the steps I need to take in order to form a limited liability company (LLC) in Georgia?
In order to form a limited liability company (LLC) in Georgia, you must take the following steps:
- Choose a name for your LLC: You will need to select a unique name for the LLC that is not already in use by another business entity registered in Georgia. You can check the website of the Georgia Secretary of State to ensure that the name you have chosen is available.
- File Articles of Organization: You must prepare and file Articles of Organization with the Georgia Secretary of State's Office. The Articles of Organization must include the following information:
- The name of your LLC
- The address of your LLC’s registered office
- The name and address of your LLC’s registered agent
- The names and addresses of the LLC’s organizers
- Get an EIN: Obtain an Employer Identification Number (EIN) from the Internal Revenue Service (IRS) for federal tax purposes. This number is like a Social Security number for your business and identifies it with the IRS.
- Create an Operating Agreement: While not required by the state of Georgia, it is highly recommended that LLCs create an operating agreement. The operating agreement lays out the rights and responsibilities of the owners, how the LLC will be managed, and the provisions that the owners have agreed upon.
- Register with the Georgia Department of Revenue: Depending on the nature of your business, you may need to register your LLC with the Georgia Department of Revenue to obtain taxes and licenses that may be required such as sales tax or state business licenses.
It is important to note that while forming an LLC provides owners with limited liability protection, there are certain exceptions to that protection. LLC owners can still be held personally liable for their own actions as well as the actions of the LLC if they are involved in illegal activities, fraud, or other actions that violate state or federal law.
If you have any questions or concerns about forming an LLC in Georgia, it is advised that you seek the advice of a licensed attorney to ensure that your business meets all legal requirements and operates in compliance with state and federal law.