A limited liability company is a business structure that can be owned by an individual or a group of individuals.The personal assets of individuals are protected if the company fails.It is simple and affordable to form an limited liability company in Georgia, but there are some unique filing requirements.You need to know what to do for each requirement.
Step 1: Pick a name for your business.
What you choose to name your company is up to you, as long as it is unique and contains some form of abbreviation of the words "limited liability company."The name must be less than 80 characters.If you don't check these things, your name may be rejected if it does not meet the criteria.To find out if your name is already taken by another company, use the database at ecorp.sos.ga.gov.You can reserve your name on the website.Mail in a Name Reservation Request Form or fill out an online form if you want to reserve your name.The reservation lasts for 30 days.
Step 2: The articles of organization should be prepared.
These forms will be used to create your company.You can fill out the Articles of Organization online.You have to submit transmittal forms at http://sos.ga.gov/cgi-bin/corpforms.aspIf you want to write your own articles of organization, you can mail them in according to the guide found here.There will be a combined fee of $100.Within five to seven business days, a certificate of organization will be mailed to the applicants.Delays may push this time up to twelve days.
Step 3: A registered agent should be appointed.
If they are sued, a registered agent will accept legal papers for the company.A physical presence in the state of Georgia is required for this agent to be an individual or a business entity.
Step 4: You can create an operating agreement.
The management structure and compensation for your company are included in an operating agreement.If there is more than one owner of a limited liability company in Georgia, it is highly recommended that they have an operating agreement.The operating agreement will be recognized by Georgia courts.You can see how to write an operating agreement.
Step 5: Yearly registration fee is paid.
You will have to register your company every year and pay a fee of $50.The first one is due between January 1 and April 1 of the following year.The registration is due at the same time in subsequent years.You can register at the ecorp.sos.ga.gov.
Step 6: You have to apply for an EIN.
Applying for an EIN from the IRS is the next step in the process.If you plan to hire employees or if you have more than one member, this is required.If you are the sole owner of your limited liability company, you may want to get an EIN so that you can be taxed as a corporation instead of a sole proprietor.You can get EINs for free by calling the IRS or visiting their website.
Step 7: Register with the Department of Revenue.
Georgia limited liability companies have to register with the Georgia Department of Revenue to file their income tax returns.You need to complete the state tax registration form.You'll need to provide your Social Security Number or EIN, as well as the address of your company's managers.
Step 8: Obtain business licenses.
Depending on the location of your business, you may have to file for additional permits from the state and local governments.A restaurant needs health and safety permits.Depending on what type of permits and licenses you need, fees will vary.The Small Business Administration's guide can help you find the licenses and permits you need.Contact your local Chamber of Commerce to find out about these requirements.
Step 9: You should get the right insurance.
Depending on your type of business, you may be required to have workers compensation and general liability insurance.To find out which types of insurance are required, contact your local Chamber of Commerce or the Small Business Administration.There is a lawyer in your area.