Are you planning to start a business and wondering how to get an LLC in Missouri? Do you wish to learn what an LLC is, and why it might be the best business structure for your new company? To better understand how to get an LLC in Missouri, it’s important to know a few basics about what an LLC is and how it works.
What Is an LLC?
A Missouri LLC, or a limited liability company, is a type of US-specific business entity. LLCs are flexible, offer personal asset protection and have a relatively simple structure compared to other business types. It combines the pass-through taxation of a partnership or sole proprietorship with the limited liability features of a corporation.
Why LLC Is Important for Liability Protection?
When you form an LLC in Missouri, you create a separate legal entity for your business. This separation protects your personal assets from debts and liabilities arising from your business activities. If your LLC is sued, the court can only go after the assets of the LLC, not your personal assets. That being said, it’s important to keep good records and maintain your LLC as a separate entity from your personal life to make sure you get the full benefit of asset protection.
LLC Formation Documents Missouri: Steps on How To Get an LLC in Missouri
Now that you know the basics of what an LLC is and how it can benefit your business, let’s look at the steps on how to get an LLC in Missouri.
1. Choose a name for your LLC
The first step is to choose a name for your LLC. The name must be distinctive and cannot be confused with any other business name. It must end with “Limited Liability Company,” “L.L.C.” or “LLC.”
2. Choose a Registered Agent
This step requires you to nominate a registered agent for your LLC. A registered agent is an individual or business that agrees to receive legal documents on behalf of your LLC. The registered agent must have a physical street address in Missouri and be available during business hours.
3. File the Articles of Organization
The next step is to file the Articles of Organization with the Missouri Secretary of State. The Articles of Organization is a short document that includes the name and address of your LLC, the name and address of your registered agent, and the purpose of your LLC.
4. Create an Operating Agreement
In accordance with the state’s legal code, Revised Statutes Section 347.081, LLCs are required to have an Operating Agreement. This is an internal document that outlines how your LLC will be run and sets forth the rights and responsibilities of the members.
5. Get an EIN
The final step is to obtain an Employer Identification Number (EIN) from the IRS. You will need this number to open a bank account, file taxes, and hire employees.
The Bottom Line
For those entrepreneurs ready to launch their business, following these simple steps on how to get an LLC in Missouri will help you get your business off to a great start. The next thing you need is to find someone that can help you prepare all the legal documents involved in the formation of your business. At Draft Legal, we offer assistance to those that want to start a business LLC. Contact us today and learn how we can help. Or, if you need a lawyer, here is a Missouri licensed business attorney.