How To Form an LLC in Iowa

A limited liability company is a particular way of structuring a business.Legal protection from personal liability for debts and claims is offered by this type of corporation.It helps ensure that a business owner's personal assets are not sought in the event of a debt or lawsuit.According to the state's law, you can form an limited liability company in Iowa.There are a number of documents and fees required to incorporate your business as an limited liability company, but the filing process is relatively easy.

Step 1: You can choose the name of the business.

A good name for your business will help customers or clients find it.Your business name must be unique in order for your business to be incorporated.It is possible to make sure that no other business has the same name.The business name has to include the phrase "limited liability company" or the abbreviation "L.C."The company may be abbreviated as "Co."

Step 2: You can register your business name.

You need to register your business with the Iowa Secretary of State once you decide on a name.The "Application for Reservation of Name" can be found on the IowaSOS website.The official name and address of the business must be included in your application.Mail the completed form along with the $10 fee to the Secretary of State, Business Division, Lucas Building 1st Floor, Des Moines, Iowa 50319.

Step 3: If your company will operate in Iowa under a different name, you should file a spurious name resolution.

It's possible for your company to practice business in Iowa under a different name than its official one.If you want to use a fake name for your company, you have to file a resolution on the Iowa SOS website.There is a $5 fee associated with this form.Payment should be sent to the Secretary of State, Business Division, Lucas Building 1st Floor, Des Moines, Iowa 50319.

Step 4: Decide who your company will protect.

Legal protection to an individual can be provided by an organization.If you own your own business and are the sole proprietor, forming an limited liability company can protect you from any loss or liability.If your business is made up of several partners, you may want to file the formation papers as a group.The partners will be protected against individual or group losses.

Step 5: A contact person can be appointed.

Your business needs to designate a person to serve as a point of contact between the business and the Iowa Secretary of State in order to apply to form an limited liability company.The person is known as a registered agent.Depending on how your business is structured, the contact person may be you yourself, a manager, your legal counsel, or another individual.

Step 6: If applicable, apply for an employer identification number.

If your company has more than one employee, you will need to register with the IRS to get a unique EIN.You don't have to pay a fee to get an EIN.If your company only has one employee, you may want to apply for an EIN if you plan on hiring more.This will allow your company to be taxed as a corporation rather than a sole proprietor, and will make it easier to hire others.

Step 7: The certificate of organization is required.

This is a declaration of your intent to form a limited liability company.You have to submit it to the Iowa Secretary of State.You can pay the $50 fee online by providing a bank account or credit card number.There is no set form to use for the certificate, but you should provide a letter or document that includes important information.

Step 8: Wait for the approval.

When the Iowa Secretary of State approves and files the Certificate of Organization, a limited liability company is formed.You will usually get notice within 7 days that your company has been approved.If you want, you can specify a delayed effective date.The Certificate of Organization can be filed before the effective date, but it won't be approved until the official date.

Step 9: If you have to, amend the certificate of organization.

If you want to change your company's name, you can do it at any time.In order to change the certificate, you must file an official amendment.The Amendment can be paid online by providing a bank account or credit card number.There is no set form for the Amendment to the Certificate of Organization, but you should send a letter or document to Iowa that contains the following information.

Step 10: If necessary, file a Statement of Change of Registered Office.

If you need to change the address of your company, or if a different person becomes the company's new point of contact, this form is used.There is no fee for filing the form on the Iowa SOS website.The form should be mailed to the Secretary of State, Business Division.

Step 11: You should submit a biennial report.

Every odd-numbered year, your business must file a report with the Iowa SOS in order to maintain your status as an limited liability company in Iowa.Your company's registered agent will receive a notice about the biennial report in January of each odd-numbered year.There is a fee associated with the report.The report can be filed online.