How to start a LLC is a question that has been asked and answered many times over the years. The fact is that an LLC is just one of many ways to set up a business. If you are wondering How To Start An Llc, there are several things that you will need to know and understand before you jump right into it. This article will cover some of the basics for you to read over and digest prior to opening your new LLC. Once you have done this, the next question that you may be asking yourself is how to run an LLC.
In order to begin and run an LLC, you first must file Articles of Organization with your county clerk. This is actually the very first step in the process of forming an LLC. Depending on the rules and regulations in your county, there may be different procedures that need to be followed. For example, some counties have a longer waiting period before an LLC can be formally filed while other counties will allow you to do so immediately. Regardless, most counties expect you to file an Articles of Organization as soon as possible because the sooner you do so, the sooner you will be able to formally reserve your LLC's operating license.
The next step is to file a fictitious name application. If your county clerk has not yet approved your fictitious name request, this is the time to move quickly. Contact your local county clerk's office and ask them if they have a copy of this application. Typically, all permits (and here's the important part) must be applied for in writing. So, it is imperative that you submit this request in writing, complete with your statutory fees, business license fees, and other miscellaneous fees.
How to Start an LLC - What Steps to Take
Once you submit the application, you will then need to either submit the completed forms to your county clerk or pick up the forms at your county's building. Here, you will pay the required filing fees. After submitting the forms, the business license application will be held for three months. During this three month period, the new LLC will need to submit a final Operating Agreement. This is the final piece of paperwork that will be submitted to the state in which you reside in order to complete the formation process.
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Once all the paperwork is submitted and the state approves the formation, the owners must file articles of organization with their county clerk. They must also provide a list of their LLC's registered agents. If a corporation, the registered agent will be the company secretary. If a sole proprietorship, the registered agent will be the person who has been delegated the authority to handle the LLC's accounts.
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Once all the paperwork has been submitted, the New York Limited Liability Company will be presented to the state's insurance department for approval. If the company is a partnership, the New York State Insurance Department will issue a certificate of authority. Once this is done, the new LLC will become operational. The process can be very quick if the company is a newly registered one, as the secretary of state will not have to wait on any approvals. However, if the company has been operational for more than ninety days, the process will be much slower.
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On the other hand, if a new LLC has been established in New York, the process will be much longer. When a New York limited liability company is formed, it must get started on the paper. If there are any legal issues, the lawyers will help get everything together. They will also ensure that the paperwork is done properly so that it can get filed with the state during the opening date of the new LLC.
The most important part about how to start an llc involves the filing of the Articles of Organization. All of the LLCs that file these documents must have one or more registered agents who act as the company's representatives. This is the person that the secretary of state will use as the company's official agent. These registered agents will also have to submit to the state their financial statements and any other paperwork related to the business. It takes a lot of paperwork for these new LLCs to get started, but they are well worth the effort.
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