The first requirement is to choose an available name that complies with your state's LLC rules. The name cannot be the same as the name of another LLC on file. It must end with an LLC designator, such as "Limited Company", or L.L.C. or Ltd.
And the name cannot include certain words such as bank, corporation, city or insurance.
The next step is to file the Articles of Organization. No matter the size of your business, most states require, at a minimum, the following information: your organization name and address, the name of your business and the registered agent of the company.
Also, if it is known at the time of filing, they will ask for the name of the manager and the members of the LLC. The articles will identify who initiate the organization process and who are responsible for signing prior to filing them with the state.
Articles of organization are short, simple documents. You can usually prepare your own by filling in the blanks on a form provided by your state's filing office. You will also need to pay a filing fee when you submit your articles of organization.
Next, it will be worth your time to create an LLC operating agreement. This is an area that can enable you to make money on the Internet presently and in the future. Even though operating agreements need not be filed with the LLC filing office.
And rarely are LLC operating agreements required by state law, however, it is for your benefit. You set out rules for the ownership and operation of the business, much like a partnership agreement or corporate bylaws.
A typical agreement could include: the members' percentage interests, their rights and responsibilities, their voting power, how profits and losses are allocated, how the LLC will be managed, buy-sell provisions, and other agreed upon rules.
This type of operation can also aid you in making money with the Internet by additional tax advantages. You become a completely different entity by acting as a charter to establish the existence of your LLC in your state.
Of personal interest, you can use LLC Maker software from NOLO to create articles of organization and a customized operating agreement for you and others in your business that meet all necessary requirements.
