Setting Up An LLC Is As Easy As 1, 2, 3!

Are you an aspiring business owner? If you are considering starting your own business, this blog is designed for you! Owning your own business can be a lot of work, but it can also be incredibly rewarding. Everyone at the Law Offices of Phillips, McElyea, Carpenter, & Welch, P.C. is committed to helping you achieve that dream. In this blog post, we are going to examine how an LLC is beneficial to your business and how to establish your business as an LLC.

Why an LLC? 

Limited Liability Companies are one of several forms of business ownership. LLCs provide an advantage in that they can protect the individual owner(s) from personal liability. As the owner of a properly formed and operated LLC, you can be insulated from personal responsibility for business expenses or lawsuits. The LLC essentially creates a buffer between you and your business. If your business begins to struggle with debt, for example, your personal property or savings can be protected, provided you have properly formed and properly operated your LLC. Each new business deserves special research, but LLCs are a good option for most business owners.

Establishing Your LLC

Setting up an LLC is a fairly simple process. The rules differ slightly by state, so for now, we're going to focus on the requirements for establishing an LLC in Missouri. 

Step 1: Pick Your Company Name
In Missouri (and most other states) your business name is required to include something to identify it as a limited liability company, such as "Bob's Baskets, LLC." Your company's name must be unique from all other registered LLCs in Missouri. Check with the Secretary of State to find out if your desired company name is available. If you want to, you can reserve your company's name for 60 days with a filing fee of $25.

Step 2: Fill Out Missouri's Articles of Organization
These forms require basic information, such as your company's name, address, purpose (a concise description of what your company will do to earn money), the intended duration of the company, etc. The filing fee for these documents is $50 in Missouri if filed electronically.

The Articles of Organization will also ask for the name and contact information for your company's registered agent. This individual is responsible for accepting any legal documentation on the LLC's behalf if it is sued. Anyone with a physical street address in Missouri can act as the registered agent.

Step 3: Establish an Operating Agreement
Missouri Revised Statute Sec. 347.081 states that "The member or members of a limited liability company shall adopt an operating agreement containing such provisions as such member or members may deem appropriate..." The operating agreement allows you to decide on and document in writing each member's roles, rights, and responsibilities. The operating agreement can help to guide you through any complications or confrontations that may arise. 

For information about LLC requirements in a different state, give us a call at (573) 346-7231.

 If you are considering setting up your own business, we would be happy to discuss your options with you! Stop by and see your local Lake of the Ozarks Lawyers today!

 We Are Effective Camden County Lawyers for all of your legal needs.
We Are There When You Need Us.

 Subscribe to our blog for interesting legal information, announcements, and happenings around Lake of the Ozarks.

Disclaimer: No attorney-client relationship is created by publication of this Blog.

---------------------------------------------------------------

Law Offices of Phillips, McElyea, Carpenter, & Welch, P.C.
The choice of a lawyer is an important decision and should not be based solely on advertising. When you need a knowledgeable attorney, we invite you to contact us to set up a consultation. Evening and weekend appointments are available. We have access to interpreters.

We accept Visa, MasterCard, and Discover.

Phillips, McElyea, Carpenter & Welch, P.C.
85 Court Circle N.W., P.O. Box 559
Camdenton, MO 65020   GET A MAP
(573) 346-7231 - Telephone
(888) 236-2485 - Toll Free
(573) 346-4411 - Fax




Location: Camdenton, MO 65020, USA

Comments

Post a Comment

Popular posts from this blog

5 Reasons To Hire A Criminal Defense Attorney

Image
Criminal charges can turn your life upside down. If you are found guilty, you can suffer numerous consequences, including fines, imprisonment, and effect on your permanent record. If you are facing criminal charges, hiring an experienced criminal defense attorney can make a world of difference. Consider these reason why you should hire a criminal defense lawyer to represent your case. 1. Your Attorney Understands The Law It's no secret that the legal field is complex. Every law has exceptions, and every circumstance has different specific requirements. You need a criminal defense attorney that has experience dealing with these minute details and can help you use them to build a solid case. 2. Your Attorney Knows The Scene The Missouri Courts are like a world of their own. Each court has its own set of rules, social norms, and strict guidelines governing what behavior is and is not acceptable. If this is your first court case, you can not possibly know all of these unspo
Read more

Legal Tips to Be Aware of When Entering Into a Marriage

Image
Congratulations! It is 2019 and this is the year you are getting married. Among all of the wedding planning, you probably haven't had time to think about the legal side of getting married. While it is not the most glamorous side, it is worth taking a look into. For example, has your fiance brought up the notion of signing a prenuptial agreement (prenup)? It is best to know what all comes with a prenuptial agreement and the advantages and disadvantages of choosing to sign one. Our attorneys at the Lake of the Ozarks are here to give you a few legal tips to be aware of when entering into a marriage. If you find yourself need a prenuptial agreement drawn up, call Phillips, McElyea, Carpenter, and Welch   today for your free consultation at 573-346-7231. Legal Tips to Be Aware of When Entering Into a Marriage Do You Plan to Legally Change Your Name After You Get Married? If you plan to change your legal name after marriage, here is what you need to do. According to the Misso
Read more

3 Questions To Ask Your Real Estate Lawyer When Selling Your Home

Image
Have you ever considered how valuable an experienced real estate lawyer in Camden County can be to you? Having a Lake of the Ozarks attorney who can walk you through the ins and outs of real estate law can prevent you from making a huge mistake and could end up saving you a TON of money in certain circumstances. In this week's blog, our real estate attorneys at the Lake of the Ozarks are here to give you 3 questions you should ask your real estate lawyer when selling your home. If you are in need of an experienced real estate lawyer at the Lake of the Ozarks , call Phillips, McElyea, Carpenter, and Welch today at (573) 346-7231 for your free consultation. We are located near the Camden County Courthouse at 109 East Highway 54, Suite 103 in Camdenton, MO. If you are unable to call one day but decide you still need legal help and you are in the neighborhood, stop by. We have an open-door policy and we welcome walk-in clients. 3 Questions To Ask Your Real Estate Lawyer When
Read more