Read this article to learn exactly how to get an LLC in Mississippi. This article shows you how to DIY it. If you want someone to file it for you, Drafted Legal can do that and take all the guesswork out.
Step 1: Choose a Name for Your LLC
You must first choose a name for your LLC. According to Mississippi law, you must meet the following requirements:
- Your business name must include Limited Liability Company, LLC, or L.L.C.
- Your business name must be different from existing businesses within the state. You can search for business names through the Secretary of State’s website. You can also access this link for name availability.
- Your business name cannot contain words used to name government agencies. Some examples are the CIA, FBI, State Department, etc.
- Some words are restricted and may require additional documentation and licensure paperwork. These words include bank, lawyer, attorney, credit union, etc.
- The name must be distinguishable from other businesses in Mississippi.
Step 2: Appoint a Registered Agent
For every Mississippi LLC, you must have an agent for the service of process within the state. The registered agent can be an individual or business entity authorized to accept legal documents and notices if your LLC gets sued.
The registered agent can be a Mississippi resident, including you or an employee of your LLC, or a foreign corporation registered to do agent service.
Step 3: File a Certificate of Formation
To create your Mississippi LLC, you must file a certificate of formation with the Mississippi Secretary of State. Your certificate must include the following:
- Your LLC’s name, including the designator LLC or L.C.C.
- Your LLC’s email address (can be a personal email)
- Your LLC’s effective date
- Your LLC’s agent’s name and address
- The NAAICS code that is used to identify your LLC’s line of business
- The signature of a member, manager, or organizer.
Step 4: Receive a Certificate from the State
If you request a copy and pay for postage, the state will be able to mail you a certificate signifying that your LLC now formally exists. However, you can only do this after the LLC’s formation documents are approved and filed.
The certificate will allow you to receive the following:
- Employer Identification Number (EIN)
- Business bank account
- Business licenses
Step 5: Create an Operating Agreement
An operating agreement is not required but is essential for your business.
The following are reasons why it is essential to have a readily accessible and written operating agreement:
- You may be able to settle disputes due to financial agreements
- You may also settle disputes due to other potential litigation
- Without an operating agreement, the court can make decisions based on state laws and not for the best interest of the LLC and its members.
Step 6: Get an Employer Identification Number
The Employer Identification Number (EIN) will be assigned to you by the Internal Revenue Service. This will help identify your LLC for taxes.
The EIN can also assist you with the following:
- File and manage taxes at the state and federal level
- Open a business bank account
- Hire employees
The Bottom Line
Following these steps, you’d get your business LLC up in no time. However, if you want to avoid the DIY and get peace of mind that it’s set up right, you can visit here if you’re looking to start a Business LLC and want to know more.