How To Form an LLC In Kentucky
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1. Choose a Name for Your Kentucky Limited Liability Company
Check for an Available Name for the LLC in Kentucky: When you are getting ready to file to form an LLC in Kentucky, choose a name for your LLC that is unique. You will need to search online databases and other records to find out if the name that you want to use for your LLC is available and not in use by another LLC in Kentucky. There is a searchable online database of business entities available on the official website of the Kentucky Secretary of State at Kentucky LLC.
Reserve a Name for Your Kentucky LLC: Although reserving a name is not required, you can reserve a name for your LLC before you file to form your LLC in Kentucky by submitting a name reservation application. You can find the application form online at Kentucky LLC. The name that you submit will be reserved in the state of Kentucky for a period of 120 days. There is a $15.00 filing fee to submit a name reservation application.
Filing for Trademarks Protection and Doing an LLC Name Search: You may find when you are searching databases and other records in Kentucky that the name that you want to use for your LLC is available in Kentucky but in use by an LLC in another state. There could be restrictions that affect your use of the name that you have chosen for your LLC. You can find useful information about choosing a name for your LLC at how to choose a name for your llc.
Kentucky LLC Name Requirements: When you are thinking of possible names for your LLC you should remember that in Kentucky the name of your LLC must include the designation "LLC," “L.L.C.,” or "Limited Liability Company." You should also remember that the term “LLC” stands for “Limited Liability Company,” and not “LLC Corporation, “Limited Liability Corporation,” or anything else related to a corporation. LLCs are organized differently than corporations.
2. Find a Registered Agent in Kentucky
When you are getting ready to file to form an LLC in Kentucky, you need to select a registered agent. Your registered agent will act as an agent for service of process for your LLC and will receive all tax documents, legal notices, and other official notices for your LLC. You should be aware that there are corporate service companies that offer registered agent services, usually for a fee of around $75.00 to $150.00.
3. File Articles of Organization with the Kentucky Secretary of State
Minimum Requirements for the Articles of Organization: The Articles of Organization that you file for your Kentucky LLC must contain the name of your LLC, the street address and the mailing address of your initial registered office, and the name and address of your registered agent. You must also state whether the LLC will be managed by a manager of by the members of the LLC. The Articles of Organization must be signed by the organizer and the registered agent. You can download a form for this document online at Kentucky LLC.
Other Kentucky Legal Provisions: You should think about including additional clauses along with the minimum requirements in your Articles of Organization. A lawyer can assist you in including additional clauses that are relevant to your company.
Where to Submit the Articles of Organization for Filing: You can mail your Articles of Organization to the Office of the Secretary of State, P.O. Box 718, Frankfort KY 40602-0718.
Filing Fee: The fee to file Articles of Organization in Kentucky is $40.00.
4. Form a Kentucky Limited Liability Company Agreement (Operating Agreement)
Once you have filed Articles of Organization to form your Kentucky LLC, you will need to create an LLC Agreement to govern all aspects of your LLC as well as the actions between the members of the LLC. Each member of your LLC must sign this LLC Agreement. The details of your LLC Agreement will depend on factors such as how many people are involved, how much money is being invested, how the money will be distributed, and whether the company will be managed by a manager or by the members of the LLC. You should also think about what the purpose of your LLC is, since LLCs that are formed for different purposes will have different needs in an LLC Agreement. For example, an LLC that will operate a retail store may want to include different items in an LLC Agreement than an LLC that will own and develop real estate. A lawyer and an accountant can help you to create an LLC Agreement that complies with all state requirements and federal tax laws.
You will also need to get ready to take actions such as making securities filings, obtaining an EIN from the IRS, and obtaining a business license in the locale where you will be conducting business. Be aware that there are corporate services companies that can make these kinds of filings for your LLC and obtain form documents for a fee. You can find out how to get a business license in your city through our online guide, available at http://www.cityapplications.com/business-licenses.html.
5. Qualify Your Kentucky LLC to Do Business in Other States
You will need to find out what you need do to register or qualify your LLC to do business in your home state if your main office will be located outside of Kentucky. Most states will require LLCs to register or qualify in order to do business and will require you to pay taxes in your home state whenever you do business in another state. You can find out how to qualify your LLC to do business in other states at [Qualifying to Do Business in Other States].
6. Make Annual Filings and Pay Annual Taxes in Kentucky
In the state of Kentucky, all LLCs are required to file an annual report. You find information about this report and file online at Kentucky LLC. The filing fee is $15.00. You will also be required to file a tax report and pay taxes every year. You can check out the official website of the Kentucky Department of Revenue at Kentucky LLC to find information about the taxes that apply to your LLC and to download tax forms.
You will face many complex decisions when you are forming an LLC in Kentucky. These decisions can be especially complex if several people are involved. An accountant and an attorney can help you to be sure that an LLC is right for your company and that all your paperwork is being processed correctly.
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This site is for informational purposes only and does not constitute legal, financial or tax advise. The information on this site should not be relied upon as an official source of information and should be independently verified.