To form an LLC in Pennsylvania, there are several steps that you must take:
- Choose a name for your company. Pennsylvania law requires that the name of your LLC be distinguishable from the names of any other LLCs, limited partnerships, or corporations that are already registered in the state.
- File articles of organization with the Pennsylvania Department of State, Bureau of Corporations and Charitable Organizations. The articles of organization should include the name of the LLC, its purpose, the name and address of a registered agent, and the names and addresses of the LLC's members.
- Draft an operating agreement. While not required under Pennsylvania law, it is highly recommended that you draft an operating agreement that outlines the rights and responsibilities of the members of the LLC.
- Obtain any necessary licenses and permits. Depending on the nature of your business, you may be required to obtain licenses or permits from federal, state, or local authorities.
- Obtain an Employer Identification Number (EIN) from the Internal Revenue Service (IRS). You will need this number to file taxes and open a business bank account.
- File an annual report with the Pennsylvania Department of State. The report is due every year by April 15th and requires an $80 fee.
- Comply with ongoing reporting requirements. LLCs in Pennsylvania are required to maintain accurate company records, including meeting minutes and financial statements.
There are some limitations and exceptions to these requirements. For example, if your LLC has only one member, it may be treated as a sole proprietorship for tax purposes and may not need to file an annual report. Additionally, certain professions such as doctors, dentists, and attorneys are required to form a professional limited liability company (PLLC) instead of an LLC.
If you have any further questions or concerns about forming an LLC in Pennsylvania, it is highly recommended that you consult with a licensed attorney who specializes in business law.
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