One West Hard Money only lends to an entity such as an LLC, never to an individual. Filing for an LLC is not as difficult as you may think. One West is here to help.
Select a name for your LLC
Missouri law requires that LLC names contain the words “Limited Liability Company,” the abbreviations LLC, L.L.C., LC, or LLC.
The name of your LLC must be distinct from other business entities that are already filed with the Missouri Secretary. You can search the business names database of the Missouri Secretary to see if names are available. A name can be reserved for 60 days and renewed for an additional 60 days by filing online, or by mail with an Application For Reservation of Name. The filing fee for a name reservation is $25.
Using a Fictitious Business Name
When you are doing business in the real world, your LLC’s legal name is not required. You can instead use a fictitious name for your business, also known as an assumed name or trade name. You must file a Registration Of Fictitious Name with the Missouri Secretary-of-State to register your fictitious business name. You can also register online or by post. $7 is required to file the application. The registration is valid for five years.
Designate a Registered Agent
Each Missouri LLC must have a representative for service of process. An agent is an individual or company that accepts legal papers on behalf of the LLC in case it is sued. The registered agents can be either a Missouri resident or a Missouri-based or foreign corporation that is authorized to do business here. A Missouri street address is required for the registered agent. For a complete list of registered agents, see Missouri – Registered Agents
Register Articles of Organization
By filing Articles Of Organization (LLC 1 with the Missouri Secretary of State), a Missouri LLC can be created. Articles must contain the following:
- Name of the LLC
- The purpose of the LLC (this must be precise—state clearly in one line what the LLC will accomplish to make a profit).
- The name and address of the registered agent of the LLC
- Whether the LLC will be member-managed or have a manager
- LLC only needs to list a manager if it will have more than one member
- The LLC’s duration can be set to either perpetual or for a specific period.
- The name and address of each organizer
- The effective date of the Articles may become effective upon filing or at a future date.
- The signature of the organizer
You can file the articles online through the Missouri Secretary Of State’s online filing portal, or by mail. Online filings are $50 and paper filings $105 respectively. Online filers will also need to pay an additional $1.25 convenience charge.
Make an Operating Agreement
As of 2018, Missouri’s LLC law mandates that LLC members adopt a written operating arrangement if the LLC will have more than one member. Operating agreements are not required for a single member. The primary document that establishes the rights, powers, and liabilities of members and the LLC is the Operating Agreement. The Operating Agreement is an internal document that is not filed with the Secretary of State. An existing LLC or newly formed LLC that does not adopt an Operating Agreement will be deemed to have its articles of organization, bylaws, operating agreement, and/or member control agreement.
You can create an account with E-Forms to create your operating agreement. They have a 7-day free trial which you can cancel. There are other platforms as well—just be sure to search for an “Operating Agreement for Missouri”.
Get an EIN
Your LLC must have an IRS Employer Identification Number (EIN) for each member. You must get an EIN if you create a single-member LLC. An online EIN Application can be completed. There is no filing fee.
Applying for a Tax ID # for your entity is recommended to be separate from your personal SS#. Even though a single-member LLC is handled as a disregarded entity when filing your tax return, it’s best that your newly created LLC have its’ own Tax ID#. You can do this by applying on the IRS website. You will receive your number right away. Be sure to print a copy of the online letter you receive with the number for your permanent records.
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