What do I need to establish a Limited Liability Commercial Company (SRL)

A Limited Liability Commercial Company (SRL) It is the type of structure that you can choose to form your company, as it is the best choice due to several benefits that this structure gives you compared to others.

For example, you will notice that you benefit in terms of reducing taxes and other concepts that are also important because all personal property is separated from your company.

Therefore, in the face of any type of legal problem that your company goes through, your personal assets will be protected.

On the other hand, as it is not difficult to establish it, you do not need the intervention of an accountant or a lawyer, unless you contact one of them to help you start your company, but then you can encourage yourself to continue on your own without the help from anyone by following the steps you will read below.

Steps to establish a Limited Liability Business Company (SRL)

As a first step for you to establish a Limited Liability Commercial Company (SRL) You should go to the limited liability company center to find out about the citations of the laws that correspond to the state where your company will be established.

Within the federal or state code there are specific laws and each of them has citations or titles, chapters and sections from which it is possible to locate each specific law.

On the official site of the Center for Limited Liability Company you will find the links for each state.

For example, if you plan to establish your business in Florida, enter the LLC Florida link and it will explain that a Florida limited liability company can be formed from presenting the articles of organization to the Florida Limited Liability Company in conjunction with the payment. of the $ 125 tax rate applicable to the Florida Department of State and the Corporations division.

Then you send the form by mail, online or you can present it in person.

However, in order for you to register your company in Florida, you must also submit the LLC Foreign Relations authorization request, since in this way you will be able to carry out commercial transactions with the State Department.

The articles of organization are documents that are presented in the corresponding state office to establish a Limited Liability Commercial Company (SRL). However it is also called a certificate of training in Delaware.

In fact, the second step is the choice of the state where your company will operate, since you can choose the state of your residence or you can form your LLC in any other state, because based on that, keep reading., ..

In your home state: If you establish your company in your home state, that is, in the place where you live in the United States and all business transactions will be carried out within this same state, you must present your corporation in that state.

It means that you will buy or lease your office and hire employees within your home state. In this case, you will check all the statutes of an LCC in your home state and you will know everything you need for business transactions in the state where you will form your LLC.

In another state: If you set up your company in another state, it will no longer be your home state, then you must control the laws that correspond to LLCs according to the state where you will establish it and you will know the requirements, including all the restrictions that exist in terms of to the name you can choose for your LLC.

The name of a Limited Liability Company (LLC) in the United States

The name of the LLC: In fact for the name of a Limited Liability Commercial Company (SRL) there are different laws depending on the state you are interested in.

For example, the chosen name must end with Limited Liability Company or LLC, Ltd. or Co.

You should even make sure that the chosen name is available and therefore no other company has registered with it.

As restrictions on the name, you must take into account the words that are prohibited to include such as insurance, trust and bank.

The law even recommends that the name you choose be easy to remember, pronounce and write and that you distinguish yourself from your competitors.

You should also verify that the name you chose is available for an LLC if you reside in one state and if you will do business in another state, as this verification will cover both states.

Remember that the Limited Liability Company Center It has a link to the form so you can search each state and check the availability of the name.

The agent: You must choose a registered agent so that they can receive all the legal documents in the event that your company is involved in a lawsuit.

It will be a process agent who of course will be a person of legal age and resident in the state where you establish your company.

For example you can appoint your lawyer as a registered agent, of course if he agrees to exercise this service.

The operating agreement: It is the contract by which the initial members of the company are established, with their corresponding participation from a contract and also establishes the distribution of profits and losses among the members with the power to vote, the procedure for admitting new members and resignation of current members.

It also incorporates the operating agreement and the rules for holding the meetings.

The EIN: For filing taxes as an entity that is not sole proprietorship, you will need the EIN number, which you can obtain online at the official IRS website.

After submitting the application you will immediately receive the EIN.

Form 8832: What LLC you must choose whether your business will be classified as a taxable association, a corporation, or an entity.

If you establish an LLC with more than one member, you will not be able to classify it as a separate entity. If you do not qualify to file form 8832, your company will be classified as an association and if it has more than one member or is sole proprietorship, it will not be considered as an entity. Form 8832 can be found on the official IRS site.

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