States will also prohibit certain words, such as Bank, Insurance, or Trust. Check your state’s laws for a full list.
You can’t use a name if someone else has already trademarked it. Search the federal trademark database at https://www. uspto. gov/trademarks-application-process/search-trademark-database. If you want a website, make sure the URL is available. Most businesses have their name as part of the URL.
You have rights whether you trademark your name or not. However, filing a federal trademark gives you the ability to sue in federal court when someone illegally uses your trademark. [4] X Research source
Your state should have “fill in the blank” articles of organization to use. You can download them online. In some states, you can file your articles of organization online. You’ll need to pay a filing fee, which will vary by state. However, it shouldn’t be more than a couple hundred dollars. [8] X Research source
A description of your business purpose. An identification of each member and their ownership percentage. The rights and duties of the members. An explanation of the members’ voting power. You can decide to give each member an equal vote or weight the vote according to ownership percentage. An explanation of how profits and losses will be distributed. Your rules for calling and holding meetings. A buy-sell agreement, which explains what happens if a member dies, quits, or is removed from the LLC.
You can also contact your nearest Small Business Development Center (SBDC). A counselor there can help you identify what licenses and permits you need. Find your nearest SBDC at https://www. sba. gov/tools/local-assistance/sbdc.
You can find commercial space on websites such as Loopnet. com or in your local newspaper. Commercial rents are usually calculated based on the square footage. [14] X Research source
You also might need to buy workers’ compensation insurance. Check with your state’s Department of Labor to find a licensed insurance agent.
Business lawyer. A lawyer can represent you in court, but they can also help you understand your reporting requirements as an LLC. Obtain a referral from your nearest bar association. Accountant. An accountant can help you at tax time. They can also serve as a business advisor who can assess any plans for growth. Bookkeeper. A bookkeeper enters your daily business transactions. You might want to use software when starting out, but eventually it might make more sense to hire someone.
If you have a one-person LLC, you will be treated as a sole proprietor, which means you will report profits and losses on your personal tax return. However, you can file Form 8832 and choose to be treated as a corporation.
However, other states will want more detailed financial records. You should check with your Secretary of State.
