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What are the steps I should take to legally set up a limited liability company (LLC) in Ohio?

Picture of Chris Battis By   ·  1 minute read

To legally set up a limited liability company (LLC) in Ohio, you should follow these steps:

  1. Choose a Name: Choose a name for your LLC that meets Ohio's naming requirements. The name must include the words "Limited Liability Company" or the abbreviation "LLC." You should also check if the name is available on the Ohio Secretary of State's website and avoid using identical or too similar names to those already in use.
  2. Obtain a Registered Agent: You need to have a registered agent, who is responsible for receiving legal documents on behalf of your LLC. This agent must be either an Ohio resident or a business entity authorized to do business in Ohio.
  3. File Articles of Organization: You need to file Articles of Organization with the Ohio Secretary of State's office. This document includes information about your LLC, such as its name, registered agent, and business purpose. The fee for filing the Articles of Organization varies.
  4. Get an EIN: An Employer Identification Number (EIN) is a unique identification number that is used by the IRS to identify your LLC. You can obtain an EIN for free from the IRS by applying online, by phone, or by mail.
  5. Create an Operating Agreement: While it is not required by law in Ohio, it is highly recommended that you create an operating agreement for your LLC. This agreement outlines how your LLC will be run and how decisions will be made. It is a good idea to get the agreement drafted and reviewed by a lawyer.
  6. Register for Taxes: You may need to register for state and local taxes, depending on your business's activities. Contact the Ohio Department of Taxation for more information.
  7. Obtain Licenses and Permits: Depending on your LLC's activities, you may need to obtain licenses and permits from the state or local authorities. Check with the appropriate agencies to find out the requirements.

Some potential limitations or exceptions to the advice given include variations in the LLC formation process depending on the type of business, industry-specific regulations, and other legal requirements that may apply to your business. It is always advisable to consult with an experienced attorney who can advise on the specific needs and requirements of your business.