So you think you have made up your mind that a LLC formation is what you want and need for your business. Becoming an LLC is a huge and exciting step for someone that is just starting out in the business world. It means that you can actually operate legally, and be covered as a business in most every aspect. There are just a few things that you should know about forming a LLC, and they are listed below for you.
First Step- The first step you need to make in LLC formation is actually deciding on what kind of business you are going to have. Will you sell a service? Will you design and sell a product? Taking that first step is a big one, and usually the start up cost of the business is the largest factor when making this decision.
Step Two- Running the LLC. You will need to decide who and how the LLC formation will be ran. Will you run the business yourself? Who will own the LLC? Will you rent office space or run it from your home? Making these decisions will have a huge impact on your business, and they should not be put on the back burner.
Step three- Now that you have these first two specifications lined out for your LLC formation, you are ready to actually get the paperwork done. This step is one that you can do yourself online, or you can have someone do it for you. Whichever you choose.
Step four- Once you have filed the paperwork with the secretary of your state, you are ready to go! All you need now is a Tax ID number for your new LLC formation and the license that the secretary of the state will send you in the mail.