Come up with a business idea and conduct sufficient market research to ensure that it’s a feasible and profitable idea. Use that research to create a solid business plan for how you will launch your business and win your first few clients.

Your business plan should have all the essential information about your business, such as its purpose, goal, target customers, and value proposition. You should also include your financial projections and marketing strategy in your plan.

To register your LLC in Maryland, you’ll need an official business name. This name should adequately represent your business and must be unique. This means that no existing business should be using your chosen name.

You must also follow Maryland’s LLC naming requirements, which require you to add “limited liability company” to your business name. Alternatively, you may also use one of its abbreviations, such as LLC or L.L.C.

If there’s a delay in registering your new LLC in Maryland, you should consider reserving your business name, so that no other business may use it. This requires filing an application to reserve it for 30 days for $25.

It’s important to have a website domain name that matches your LLC name or assumed business name. That’s why, you should not wait till LLC registration to get one, but should buy a matching domain name as early as possible.

A resident agent or registered agent is an individual or organization responsible for receiving legal correspondence on behalf of a business. They receive legal documents and notify the business of any requirements or deadlines.

If you’re thinking of being your company’s registered agent, remember that you’ll need to be present at the registered address on all business days, during business hours. If you’re not up for it, hire a professional to do it for you.

There are two common types of LLCs you can register—a foreign LLC and a domestic LLC. The former is applicable if you’re expanding an existing business to Maryland, while the latter is applicable if you’re starting a new LLC.

Another choice you need to make is to decide if you want a single-member LLC or a multi-member LLC. This will be determined by the number of owners. If you share the ownership with others, you’ll need a multi-member LLC.

Unlike corporations, which have strict rules they must follow, LLCs follow their own guidelines. LLC members brainstorm and create an LLC operating agreement that contains all information on how the LLC will be managed.

Though it’s not state-mandated, it’s always a great idea to have a well-defined operating agreement. This will streamline the company’s operations and decision-making process and will help you easily resolve conflicts among members.

The most important step in the process is to register your business officially by filing an application and submitting your Articles of Organization with the Maryland Secretary of State. You may do so online, via mail, or in person.

You will need to provide essential information about your company, as required by the state, including registered agent information. You may opt for expedited review (7-8 business days) or rush filing (3-4 hours) by paying extra.

After you’ve filed your Articles of Organization, you need to wait. It takes 6-8 weeks for an application to get reviewed and processed. Expedited filing will reduce the time to 7-8 business days while rush filing will get it done in 3-4 hours.

Once your LLC application is approved by the state, you may request a Certificate of Organization. This will cost you $100 and if you want a certified copy of the document, you will need to pay an additional fee of $20 for the same.

An EIN, also known as a Tax ID, is like a social security number for your company. It helps the Internal Revenue Service identify your company and track its tax filings from year to year. This is a necessary ID that you must acquire.

Though it’s mainly required for tax reasons, an EIn has other benefits as well. When you go to open a bank account for your business, the bank may ask for an EIN. Having an EIN also makes it easier for you to secure loans and funding.

Every business must have a bank account in its name, separate from the owners’ bank accounts. This helps keep a clear demarcation between the owner’s finances and business finances, thus reinforming the liability protection for LLC members.

You will find a plethora of options to choose from. We recommend going for a hybrid banking solution that allows you to conduct transactions on-the-go, without needing to visit the physical branch for every small banking need.

Your work is not done once you get a Certificate of Organization, you also need to ensure you have all the necessary permits to start business operations. These could be general business licenses or occupational licenses and permits.

The requirements differ from state to state and by the type of business you operate. As such, you should find out the specific requirements for your county, state, and business and then get all the permits you need to legally run your business.

When starting a new business, you must always plan for contingencies. Getting your business insured helps you with that. Get started with general liability insurance that protects your company from various types of common liabilities.

You should also consider getting workers’ compensation insurance to pay employees if they incur any bodily harm while working for your company. Depending on the type of business, you may want to get a few other types of insurance as well.

To stay relevant in today’s business world, you need an online presence for your business and a website is the first step toward that. Your website is the primary source of information for your business for prospective customers.

As such, you should invest in good website design and marketing services to create a site that organically drives traffic. It should also deliver a great user experience and keep prospects engaged enough to, eventually, drive conversions.

Running a business is no easy task and requires you to continually stay in compliance with various state and federal laws and regulations. That’s why you should be aware of all compliance requirements and ensure you meet all deadlines.

The two most important requirements are paying taxes and filing annual reports on time. Find out about all other ongoing requirements and keep up with the deadlines or hire someone who can alert you of all requirements ahead of time.

Here’s what you can expect, over and above what you get with the Starter plan:

• Customer success advisor:  If you choose the top-tier plan, Inc Authority will assign a designated business success specialist to oversee your account. They will act as your main point of contact for all your business requirements, ensuring operations run smoothly. Any questions you have will be answered promptly.

• Private banking expert: Managing your business finances successfully requires a business bank account. Inc Authority will connect you with a private banking expert, who will guide you in identifying top-tier business banking alternatives and selecting one that complements your business needs.

• Personalized business advice: Inc Authority is not just a provider of business formation services, despite what many may think. It not only assists in starting a business but also teams up with you to aid in its expansion. Its business advisory services guarantee that you kick off your business successfully.

• Expedited application filing: This plan offers expedited preparation and filing services, with applications submitted on the same day. Unlike clients on the free plan, who may experience delays, clients on the Fasttrack plan receive priority treatment and have their applications processed within 24 hours.

This plan is best suited for clients who prefer personalized services and priority treatment. If you don’t mind paying a little extra to get quicker and better services, then go for this plan.

Price: Custom

Here are the extra services you’ll get with the Starter plan:

• LLC operating agreement: Every LLC should have an operating agreement that outlines the guidelines for how it will be run. Inc Authority will help you create a comprehensive agreement by providing a template that you can use to create one and offering expert assistance to make it as detailed as possible.

• Employer Identification Number: If your LLC employs any staff, an EIN is required to identify your company and deduct taxes from their salaries. Inc Authority provides help with the application process via the Starter plan and can aid you in securing your federal Employer Identification Number easily.

• Corporate forms and documents package: Inc Authority offers multiple expert-designed templates for crucial legal and business documents, allowing you to save time and energy. Additionally, it assists in drafting these business documents, ensuring they are accurate and detailed.

• Compliance notifications: You will be sent alerts and notifications of impending deadlines to help you keep on top of key business filings and other obligations vital for upholding your business’s legal status. This will help you adhere to state and federal regulations and stay in good standing with them.

• Detailed tax consultation: Inc Authority, with its premium plans, provides access to a comprehensive tax planning consultation with a specialist. The tax expert will offer you thorough guidance on tax due dates, tax write-offs associated with typical business costs, and other tax concerns.

• Web domain + 5 business email addresses: Inc Authority offers a bundled deal to jumpstart your online presence and establish an engaging and optimized website for your new business. This comprises a website domain for your LLC and 5 corporate email addresses using your domain name.

This plan is perfect for people who want multiple services, not just business formation. You get a bundled package with crucial services you’ll need for successfully starting a new business.

Price: Custom

Here’s what you can expect, over and above what you get with the Starter plan:

• Customer success advisor:  If you choose the top-tier plan, Inc Authority will assign a designated business success specialist to oversee your account. They will act as your main point of contact for all your business requirements, ensuring operations run smoothly. Any questions you have will be answered promptly.

• Private banking expert: Managing your business finances successfully requires a business bank account. Inc Authority will connect you with a private banking expert, who will guide you in identifying top-tier business banking alternatives and selecting one that complements your business needs.

• Personalized business advice: Inc Authority is not just a provider of business formation services, despite what many may think. It not only assists in starting a business but also teams up with you to aid in its expansion. Its business advisory services guarantee that you kick off your business successfully.

• Expedited application filing: This plan offers expedited preparation and filing services, with applications submitted on the same day. Unlike clients on the free plan, who may experience delays, clients on the Fasttrack plan receive priority treatment and have their applications processed within 24 hours.

This plan is best suited for clients who prefer personalized services and priority treatment. If you don’t mind paying a little extra to get quicker and better services, then go for this plan.

Price: Custom

Choosing a business name is the first step to forming a Massachusetts LLC. You need to choose an LLC name that adheres to Massachusetts LLC naming guidelines and also represents the essence of your company. 

Per Massachusetts guidelines, your LLC name must include “limited liability company”, “LLC”, or “LC.” Also, you can check if your LLC name is available for use in the state using the Corporations Division Business Entity Search. 

If you have found a unique LLC business name but are not ready to file your LLC yet, you can apply to reserve the name for 60 days. This will help prevent others from claiming the name before your registration process. 

Note that this application process costs $30. In addition to reserving your business name, you should get a domain name that matches your business name. This will be useful when you create a website for your new business.

Once you’ve got your LLC name sorted, employ a registered agent as required by Massachusetts law. You can decide between three options—you, a family member, or a professional registered agent services provider. 

Your registered agent must reside in the state, be over 18 years old, and have a physical address within Massachusetts. They will be your point of contact for receiving official legal documents and state correspondence. 

You have the flexibility to choose how your LLC operates in terms of the number of owners. You may have a single-member LLC, which provides management flexibility, or a multi-member LLC if there are multiple LLC owners.

Also, decide the management structure for your LLC. In a member-managed LLC, the owners manage the business and make decisions. In a manager-managed LLC, you appoint managers to handle these things.

Your LLC Certificate of Organization is the document that officially forms your LLC in Massachusetts. Every Limited Liability Company in Massachusetts is required to file it with the Massachusetts Secretary of the Commonwealth.

It contains important information about your LLC, such as the LLC’s name, business address, registered agent information, and purpose. It can be submitted online or by mail with a filing fee of $500 plus $20 for fax or online filings. 

While Massachusetts law doesn’t mandate an LLC Operating Agreement, having one is strongly recommended for your Massachusetts LLC. This agreement acts as a rulebook outlining the internal operations and member responsibilities.

Having an Operating Agreement helps to clarify ownership percentages, profit and loss sharing ratios, and voting rights for each member. Also, some banks may require an Operating Agreement for you to open an LLC bank account.

An EIN, similar to a Social Security Number for individuals, serves as a federal tax identification number for your business. If you plan to bring employees on board, you’ll need an EIN to report payroll taxes and withhold income taxes.

Even if your LLC does not hire employees and you choose to report business income on your tax return, having an EIN simplifies the process. You can apply for an EIN online or by mail for free through the Internal Revenue Service.

While not legally required in Massachusetts, opening a business bank account for your LLC is highly recommended to keep your business finances separate. To open one, you’ll need an LLC operating agreement and an EIN. 

With a bank account, you’ll have a clear overview of your business’s income and expenses. Additionally, having a business bank account with a consistent transaction history shows financial responsibility and can improve your credit score.

LLCs are not required to obtain a general business license in Massachusetts but you might still need specific permits or licenses based on your type of business to operate. These requirements depend on your industry and location.

Depending on your business activity, you might need an occupational license or general business license. Always check with your local municipality’s business office to determine if any permits are necessary for your LLC.

LLCs in Massachusetts benefit from a tax structure known as a “pass-through entity.” This means the LLC itself doesn’t pay income tax directly but the income or loss of the LLC is reported by each member on their individual tax return. 

Massachusetts LLCs have the option to elect out of this default status and be taxed as a Corporation. This might be preferable in some situations, but it typically comes with increased tax complexities and the potential for double taxation. 

Filing for a DBA (Doing Business As) is optional for LLCs and is not a mandatory step involved in forming a Massachusetts LLC. Your LLC’s official name is the one you filed in the Certificate of Organization during the formation process. 

But if you plan to operate your LLC under a name different from its official name, then you’ll need to file for a DBA to the City Clerk’s office with a fee of $65. The DBA creates a public record that links your assumed name with your LLC.     

Establishing a trademark is not necessary for an LLC in Massachusetts but it can help protect your business identity and brand elements. It safeguards your company’s name, logo, or slogan from being used by competitors. 

Trademark registration occurs at the federal level through the United States Patent and Trademark Office (USPTO). There is no separate trademark registration procedure in Massachusetts, so get it from USPTO.

Securing a website, although optional, helps you boost your LLC’s online visibility, showcase your offerings, and engage with potential customers. Use website design and marketing services to build your business website.

Customers can learn about your products or services, contact you, and potentially conduct transactions directly through your website, expanding your reach beyond geographical limitations. Your website can also be your digital storefront for your business information.

Maintaining ongoing compliance even after forming your LLC is crucial. Compliance requirements for LLCs in Massachusetts include paying taxes on time, filing an annual report, and filing for amendments when required 

Your LLC must file an annual report with the Secretary of the Commonwealth. It is a necessary condition to ensure your LLC remains active. The filing fee is $500 and is due by the anniversary date of your LLC’s formation.

With this plan, you’ll have access to the following features: 

• Business name check: With this plan, you can perform a free business name search using the easy-to-use business name search tool by Inc Authority. This will help you to easily check for an available and unique name for your LLC. 

• 1-year registered agent services: An LLC in Massachusetts requires a registered agent to receive legal documents on behalf of the business. The free plan offers you the services of a Massachusetts registered agent for free for a year. 

• Digital document storage: The free plan also allows you to keep business records online on your Inc Authority account where you can conveniently manage and retrieve them anytime. Such documents can include your LLC operating agreements or annual reports.

• Tax advisory: Although LLCs in Massachusetts offer a flexible tax structure, you still need guidance on how to take advantage of certain tax benefits available. Inc Authority’s free LLC formation plan provides free tax planning consultation. 

• LLC formation: Filing the Massachusetts LLC Certificate of Organization with the Secretary of the Commonwealth is required to establish your LLC. With this plan, you’ll get access to an experienced team that will review and submit your application efficiently.

• S-Corp election and filing: To obtain the federal S-Corp status for your LLC and to be taxed as one, you must complete and submit an S-Corp election form (Form 2553). You can get assistance from the Inc Authority in completing and submitting this form.

• Business funding analysis: This is one of the complimentary business formation features that Inc Authority provides with its free plan. You’ll have professionals evaluate your business’s financial status and recommend reliable sources of funding.

The free plan offers basic LLC formation services that you need to start your LLC. To access additional services and packages, you’ll need to check out its paid plans.

Price: Free

Some of the premium services you can get with the Starter plan include: 

• LLC operating agreement: An Operating Agreement is an important document that outlines the internal governance of your LLC. Inc Authority can assist you in creating one, ensuring that you craft a thorough agreement that includes all the important details and rules for your LLC operation.

• Employer Identification Number: If your LLC hires any staff, you need an EIN to identify your business and withhold taxes from their income. Inc Authority offers assistance with the application process through the Starter plan and can help you obtain your Employer Identification Number with ease.

• Corporate forms and documents package: This plan provides various templates for essential business documents, allowing you to save time and effort. Additionally, Inc Authority offers assistance in creating these documents, ensuring they are completed accurately and efficiently.

• Regular compliance notifications: With the Starter plan, you’ll get notifications and reminders of upcoming deadlines to help you stay on top of important filings and other requirements that are crucial for maintaining your business’s legal status and staying compliant.  

• Detailed tax consultation: Inc Authority, through its paid plans, offers access to an extensive tax planning consultation with a professional. The tax specialist will provide in-depth guidance on tax deadlines, deductions related to common business expenses, and other tax inquiries.

• Web domain + 5 business email addresses: Inc Authority offers a bundled package to kickstart your online presence and launch a website for your new business. This includes a web domain for your LLC and 5 business email addresses that use your domain name.

Price: Custom

Here are the additional services you’ll get with this plan:

• Dedicated customer success advisor: The Fasttrack plan goes beyond just document filing, it offers a personalized and comprehensive LLC formation service. You’ll be assigned a dedicated success advisor who acts as your guide throughout the LLC formation process. 

• Private banking specialist: Inc Authority assists in finding suitable banking options for your business in the Fasttrack plan. You’ll be connected to a private banking specialist who will provide you with the needed resources and recommendations for business banking solutions.

• One-on-one business advisory: Beyond helping with LLC formation, Inc Authority offers ongoing business support. Inc Authority provides a dedicated business advisory with tailored business advice from specialists across several industries based on your specific business goals and challenges.

• Expedited preparation & filing: With the Fasttrack plan, you can enjoy expedited filing for your business documents. Inc Authority prioritizes your business formation application and the team of experts works diligently to review and submit it within the same business day.

The Fasttrack plan is ideal if you want swift filing and individualized services. However, if you do not want any add-on features and don’t mind waiting a few weeks to launch your LLC, you can opt for the free plan.

The first step to starting an LLC in Maine is selecting an official business name that adequately reflects your brand. The name must be unique to your business and should not be used by any other business to avoid confusion.

Before you pick a business name, you must do some research to find out if your desired LLC name is available or has been taken by another business. You can use the free name search tool Inc Authority provides for this.   

Once you’ve chosen a unique business name, you must reserve it or risk losing it to another business or organization. For $20, you can apply to reserve your name with the Secretary of State of Maine for up to 120 days. 

Your business name must also adopt the LLC naming conventions mandated by the state of Maine. It must have “Limited Liability Company” attached to it. Otherwise, it can have any of the alternatives like “L.L.C”, “LLC”, “L.C”, or “LC”.

You must appoint a registered agent for your LLC in Maine. A registered agent is a business or individual who will be the official point of contact for your company. They will accept legal papers and tax documents on behalf of your LLC.  

You or any member of your LLC can serve as a registered agent or you can outsource it to commercial registered agent services providers. Whoever you choose, must have a permanent physical address in Maine. 

You can decide to run your company as a single-member LLC or multi-member LLC. A multi-member LLC allows you to hire employees and have several members, while in a single-member LLC, you would be the company’s sole member. 

The state of Maine also recognizes Low-profit LLCs (L3Cs). These are companies that can generate revenue and enjoy pass-through taxation. However, they must not have a political objective and have a charitable or educational purpose.

An operating agreement is an official document that outlines the terms of operations of an LLC. It acts as a binding agreement that allows the members of your LLC to make financial and functional business decisions according to guidelines. 

Maine government policies do not require LLCs to submit an operating agreement. However, we recommend that you create one to guide the operations of your company, especially if you plan to run a multi-member LLC in Maine. 

Before your LLC in Maine can become a legally registered entity, you must file your certificate of formation with the Secretary of State. A certificate of formation is an official document that contains crucial information about your LLC. 

This document should contain the name of your LLC, contact information, and details of your registered agent. The filing fee for this document is $175. However, the government gives you the option of expedited filing for an extra cost of $50-$100.

Also known as a federal tax identification number, an EIN is used by the IRS as a means of identifying your LLC for tax reporting purposes. It’s also necessary for opening a business bank account and paying the employees of your LLC. 

If you run a multi-member LLC, you must get an EIN. For a single-member LLC, you can use your social security number as an EIN. However, get an EIN even for a single-member LLC in case you decide to hire employees in the future.

Maine LLCs are required to have a business checking account that helps keep the business finances separate from its members’ finances. Once you’ve got an EIN, opening a bank account should be a pretty straightforward process. 

Besides your EIN, you’ll need other documents like the LLC operating agreement, certificate of formation, etc. As a startup, one business checking account should suffice for streamlining your finances. As you grow, you may need multiple accounts. 

The Maine government does not require LLCs to get a general state-level business license. However, depending on the particular county or city your business operates in, you may have to get a municipal license or tax license.

The type of goods or services your LLC provides will also determine if you need to get an industry-specific license. You’ll need a license if your LLC provides financial services, healthcare, architectural services, construction work, etc.

The great thing about starting an LLC in Maine is that you get to choose whatever tax structure you want. Other business entities do not enjoy this flexibility. LLCs generally enjoy pass-through taxation, avoiding double taxation. 

As an LLC owner in Maine, you’ll pay Maine’s individual income tax at the rate of 5.8% to 7.15% of your income. If you choose to be taxed as a C-Corp, you’ll pay the 21% federal income tax rate and 3.5% – 8.93% graduated corporate income tax.

If your LLC has at least one employee, whether full-time or part-time, Maine requires you to get worker’s compensation insurance. This type of insurance covers any work-related injuries that may occur from accidents or illnesses.  

It is not a requirement to obtain property and liability insurance for your LLC in Maine. However, it is advisable to get them because they protect your company from property damage, injury claims, and lawsuits that may affect your finances.

When you start a new company, you need to create logos, brand colors, designs, and other elements that are unique to your brand identity. Getting a trademark will protect your brand elements from being copied by another business. 

You must first check with the patent office’s Trademark Electronic Search System to verify that there are no trademarks similar to yours. Then, submit your application to the U.S. Patent and Trademark Office (USPTO) and await approval.

Although this is not a mandatory step, it is highly recommended. One of the keys to staying ahead in a digital age is creating a website for your business. Ensure you design it with your brand logo, colors, and other unique brand elements. 

Your website should also have a domain name that matches your legally registered business name or DBA (doing business as). This makes it appear more professional and credible, thus attracting potential investors or business partners.  

After you’ve registered your LLC in Maine, you must keep up with certain ongoing compliance requirements mandated by state laws. You’re required to file an annual report with the Secretary of State. The legal deadline for this report is June 1.

The annual report verifies that you’re still a viable LLC operating under state laws. The filing fee for this report is $85 for domestic LLCs and $150 for foreign LLCs. You can also choose to file it online or print it out and submit it by mail. 

These are the benefits you’ll get with the free plan. 

• Business Name Search: Inc Authority makes it easy for you to find available business names using the free name search tool on its website. It allows you to search through a comprehensive list of registered firms to find available names. 

• Registered Agent Services for One Year: Even with the free plan, Inc Authority provides free registered agent services for your LLC. This saves you the trouble of hiring a paid registered agent to serve as your company’s point of contact. 

• Secure Document Management: With Inc Authority’s free plan, you don’t need to worry about losing the paperwork associated with your LLC. It provides a secure online database to store your operating agreements, annual reports, etc. 

• Tax Advisory: Inc Authority’s services don’t just stop at business formation. It also provides tax advisory services from experts who will guide you through the process of choosing a suitable tax structure that will maximize your tax savings. 

• LLC Formation: This is the main service that Inc Authority offers. Its team of experts guides you through every step of forming an LLC in Maine, ensuring that you provide all the necessary documents and make no mistakes when filing them. 

• S-Corp Election and Filing: Are you thinking of choosing an S-Corp tax structure for your LLC in Maine? Not a problem. Inc Authority’s professionals will help you review and file the S-Corp election form in no time and get the special tax status. 

• Business Funding Analysis: Your LLC needs adequate access to funding sources in order to grow and expand. Inc Authority recognizes this need and assesses your short-term finance needs and provides reliable funding options for you.

The free LLC formation plan gives you the basic features you need to set up a functional LLC in Maine. However, if you’re looking for more personalized services, you should consider the paid plans.

Price: Free

This plan provides the features in the free plan, with the following additional benefits:

• LLC Operating Agreement: Your LLC needs to have an operating agreement to guide how the company will function. Inc Authority will provide professional templates to help you draft a comprehensive operating agreement for your LLC in Maine. 

• Employer Identification Number: Maine law mandates all LLCs to get an EIN for tax identification purposes. The Starter plan gives you access to experts who will make the EIN application process as seamless as possible for you.

• Corporate Forms and Documents: Establishing an LLC in Maine involves different types of forms, documents, and legal paperwork. With this plan, Inc Authority will give you the guidance and templates needed to draft the necessary documents. 

• Annual Compliance Reminders: It can be difficult to remember all the annual compliance requirements your LLC in Maine must keep up with. Inc Authority lets you focus on your business by sending reminders to help you stay compliant.

• In-Depth Tax Consultation: While the free plan comes with basic tax advisory services, the Starter plan gives you a more detailed look into your tax structure. Inc Authority’s experts will offer more personalized insights to maximize your taxes. 

• Web Domain + 5 Business Email Addresses: In this digital age, establishing an online presence for your business is necessary. Inc Authority will provide  5 business email addresses and a web domain to match your business name. 

Price: Custom

Take a look at the additional benefits you’ll get over the Starter plan. 

• Customer Success Advisor: When you choose the Fasttrack plan, which is Inc Authority’s highest-tier plan, you get a dedicated customer success advisor who will be your point of contact at every step of the way. They’ll answer your questions and help you make the best decisions concerning your LLC in Maine. 

• Private Banking Specialist: Besides a customer success advisor, you’ll also be assigned a private banking specialist to assist you with the financial planning aspect of your business. They’ll ensure you understand how to streamline your finances and help you choose the most suitable business banking options.

• Personalized Business Advisory: Inc Authority is not just concerned about helping you start your LLC in Maine. It also offers additional services to ensure your business is running as it should. With the Fasttrack plan, you’ll get business advisors to help you create a solid business plan that meets your goals.  

• Expedited Preparation and Filing: Although the Maine state government offers expedited filing for some LLC formation processes, you’ll have to pay extra for it. The Fasttrack plan automatically includes expedited preparation and filing. This means you can get access to same-day filing and processing at no extra cost. 

The Fasttrack plan is the most expensive plan Inc Authority offers, but it comes with more personalized services tailored to your specific business needs. If you’re working with a limited budget and can afford to be patient, you can start with the Free plan.

The first step toward starting a new business in Louisiana or any other state is to come up with a feasible and profitable business idea and make a business plan. This involves planning the various aspects of how you will launch your new business.

Your business plan should answer key questions about your business, such as who its target audience is and what products or services it will offer. You should also plan how you will market your new business and win your first few clients.

Choose a business name that well represents your business and is not misleading. Your chosen LLC name should be unique and must not be used by any other business in Louisiana. It should also be short and easy to remember.

Follow the naming guidelines of the state of Louisiana and ensure that the name doesn’t suggest a non-profit organization if you have a for-profit business. Also, add terms like Limited Liability Company or its abbreviations to your LLC name.

Ensure that you reserve your chosen business name or LLC name if you anticipate a delay in the LLC registration process. This will ensure that no other business can use your chosen LLC name for the period for which it is reserved.

In Louisiana, you are allowed to reserve a business name for a period of 120 days. To reserve a business name, you must apply with the Louisiana Secretary of State, along with the state filing fee of $25 and expedited filing fees, if applicable.

Select a Louisiana registered agent to receive all legal correspondence on behalf of your business. If your business gets sued or gets a legal notice, your registered agent will receive it and inform you of the same on time.

You can choose to be your own registered agent, but that would require you to always be present at the registered address during the business days and hours. As a busy entrepreneur, that may not always be possible for you.

Determine whether you need to start a foreign LLC or a domestic LLC in Louisiana. This choice will depend on whether you have an existing business and want to expand it or if you want to start a new business from scratch.

If you already have an established business in another state and want to expand it to Louisiana, you’ll need a foreign LLC. If you’re establishing a new business in Louisiana, then you’ll need to form a domestic LLC.

The next step in the process is to create an operating agreement that guides how your Limited Liability Company in Louisiana will operate. It covers detailed guidelines on how the roles and responsibilities of members and managers.

It also defines the clear rules on who makes the decisions and how and how conflicts will be resolved. As such, you should make a detailed LLC operating agreement to ensure all important governance guidelines are covered.

Legally register your LLC by submitting your articles or organization to the Louisiana Secretary of State. You may do so by filing the application and all accompanying documents online or by sending it via mail or in person.

Make sure you fill out all required information accurately and provide all the necessary information. Pay the $100 filing fee while submitting your application and choose one of the expedited filing options if you so wish, at an extra cost.

Every business needs an employer identification number, also known as a Tax ID. The government and the Internal Revenue Service use this number to recognize and track a business and its tax filings each year, or lack thereof.

Employer Identification Number is not just useful for tax purposes but for various other reasons. For instance, you will need an EIN to open a bank account in the name of your LLC. Having an EIN also improves your chances of getting external funding.

To ensure that your business finances remain completely separate from yours, open a bank account in your business’s name. This will streamline your business finances and also help you build a banking history for your business.

Look for hybrid business banking options that do not require you to visit a physical branch for every need. Choose the right business banking solution that helps you manage your business finances easily from anywhere and anytime.

Depending on the type of business you want to start in Louisiana, you may need different licenses and permits. Most businesses require a general business license, but specialized businesses require a few more licenses.

For example, a restaurant may require a food permit or a liquor license. Check out the detailed requirements specific to your business, and obtain all required federal, state, and local licenses to start your business operations.

A Limited Liability Company in Louisiana has the flexibility to choose its tax structure. A single-member LLC is taxed as a Sole Proprietorship and follows pass-through taxation where the business income passes to the LLC members.

A multi-member LLC, on the other hand, can be taxed as a Partnership and follow the pass-through taxation. Alternatively, it can also choose to be taxed as a Corporation, including both C-Corp and S-Corp tax structures.

Opt for an assumed name or fictitious name, aka trade name, if your chosen business name is too long or not memorable enough for branding purposes. Following the naming conventions may make your official LLC name too long.

File for a Doing Business As (DBA) or trade name with the Louisiana Secretary of State. You will need to pay a filing fee of $75 to register a trade name and if you want to reserve it for 120 days, you need to pay $25 extra for it.

If you want to protect your brand name, logo, or some other brand element, you can get a trademark. It costs the same as a trade name and involves the same process where you file an application with the Secretary of State. 

Doing so will allow you to protect your brand and prevent any other company from copying your brand name or logo. You may also get servicemarks. If you apply for multiple categories, you need to pay the fee multiple times.

Forming an LLC in Louisiana is a one-time thing, but running it in compliance with the state’s laws is an ongoing process. Make sure you follow all regulatory requirements and stay in good standing with the state.

Two key requirements you need to comply with include paying taxes and filing your LLC’s annual reports on time. Failing to do so may result in penalties or cancellation of your LLC’s registration status, making it non-operational.

Here are the features you’ll get with this plan:

• LLC name search: Look for your chosen business name in the state’s database to ensure it’s not used by any other entity, using Inc Authority’s free search tool.

• 1-year registered agent services: Get complimentary registered agent services from a Louisiana resident agent for one year, after which you’ll need to pay for it.

• Digital document storage: Store your business registration documents online on Inc Authority’s cloud storage and easily access them anytime, anywhere.

• Tax consultation: Consult a tax specialist to assess the tax requirements for your Louisiona LLC and get advice on how to save the most money on taxes.

• LLC registration service: Take help from Inc Authority’s business formation experts to file your articles of organization and register your Louisiana LLC.

• S-Corp formation: Opt for the S-Corp tax status by filling out Form 2553 of the IRS and taking the Inc Authority’s help in the registration and filing process.

• Business funding analysis: Get in touch with an expert to seek guidance on how to acquire short-term and long-term funding to expand your business.

The free plan is perfect for you if you just want to register your LLC and don’t require other services. As such, if you want additional services, paid plans might be better than paying for individual services as add-ons.

Price: Free

Here are the additional services you’ll get with this plan:

• LLC operating agreement: Take help from experts at Inc Authority to prepare a comprehensive Louisiana LLC operating agreement to streamline the operations and decision-making process of your LLC in Louisiana.

• Employer Identification Number: Apply for an EIN for your Louisiana business with help from the Inc Authority. It will help you through the entire application process and even let you choose expedited filing options.

• Corporate forms and documents package: Access a plethora of legal and business document templates. Use these to draft various business documents, contracts, and agreements to save time and effort.

• Annual compliance notifications: Get annual notifications for various compliance deadlines, such as the last date to file an annual report. This ensures you don’t miss any deadlines or incur penalties.

• Detailed tax consultation: Get a detailed tax consultation to plan your business taxes and maximize tax returns. Ask any questions you may have and have an expert take care of your entire tax planning process.

• Web domain + 5 business email addresses: Create a website for your business in Louisiana and get a free web domain registration. You may also get five business email addresses for free if you want.

This is the basic paid plan that Inc Authority offers, which has all the essential services you’ll need to start a new business in Louisiana and hit the ground running.

Price: Custom

Here are the additional services you’ll get over and above what you get with the Starter plan:

• Customer success advisor: A customer success advisor will be assigned to you when you opt for this top-tier plan. They will be your single point of contact for anything and everything you need to start and run a successful business. They’ll help you through the entire process.

• Private banking specialist: You’ll also be assigned a banking specialist who will help you understand your business banking needs. They will also provide you with various banking solutions that are perfect for your business and guide you on how to choose the best option.

• Personalized business advisory: As a new entrepreneur, you’ll need all the help you can get to ensure that your new business is a success. Inc Authority has numerous business experts who can provide specialized advice on different aspects of running a business.

• Expedited preparation & filing: If you want to get first priority and have the team prepare and file your application within the same day, then you need to choose this plan. With this plan, you get expedited filing of your application, but the processing time depends on the state.

This plan is suitable for those who want to be treated as the top priority and don’t mind paying for premium services.

Price: Custom

Before you register an LLC in Kentucky, you must pick a unique business name that’s not used by any other business within the state. You must research to find if your chosen name is available and choose another name if necessary.

Kentucky laws also require adding “Limited Liability Company” to your business name. If you’d like, you can also add any of the variations; “LLC”, “L.L.C”, or “Ltd.Co”. Also, ensure your LLC name is easy to spell and remember. 

If you are not yet ready to register your LLC in Kentucky but have found a business name that is not taken, you can reserve it. Although it is not mandated, Kentucky laws allow you to reserve a business name for up to 120 days. 

If you are still not ready to proceed with your LLC registration after 120 days, you can renew your name reservation for another 120 days. Application for business name reservation or renewal can be filed at a flat fee of $15.

All LLCs in Kentucky must have a local resident agent to represent the company. You or any member of your LLC can act as your registered agent, or you can outsource this service. However, your LLC cannot act as its registered agent. 

Your registered agent will handle all legal, tax, and government correspondence relating to your company. Your registered agent must have a permanent street address within the state and be available during business hours.

Decide if you want your company to operate as a single-member LLC or a multi-member LLC. If you’re a solo entrepreneur, you’ll be running a single-member LLC and will be in charge of ensuring the company abides by Kentucky’s laws.

If you have business partners you’ll need a multi-member LLC. It can be member-managed, where the owners run the business operations, or manager-managed, where an appointed manager takes over the wheel.

An LLC operating agreement is a document that outlines the basic rules and guidelines for business operations. Although it is not required, creating an operating agreement is advisable as it helps streamline your operating procedures. 

An LLC operating agreement should contain all essential information about your company and clearly define its structural features. If you wish to, you can keep this document confidential among the members of your LLC. 

To officially register your LLC in Kentucky, you must file your LLC Articles of Organization with the Secretary of State. It contains information about your company, like the business name, address, registered agent’s address, and more. 

To form a domestic LLC, you can file your Articles of Organization for $40. If it is a foreign LLC, you must file a Certificate of Authority with the state at a flat filing fee of $90. You can file this online or send a check to the Kentucky State Treasurer. 

A federal EIN is a tax ID assigned by the Internal Revenue Service (IRS) to each business. You’ll need an EIN to manage your taxes, hire employees, open a company checking account, and complete other critical business operations. 

If you run a single-member LLC in Kentucky, you don’t need an EIN because you can use your Social Security Number instead. However, it is still advisable to get an EIN if you want to hire employees in the future, for tax purposes.

It is important to keep your personal and business finances separate, even if you run a single-member LLC. Opening a business account for your LLC in Kentucky makes tax preparation easier and streamlines the financial aspect of your business.

A business bank account also protects you and your LLC members from business debt liability. If you have a business account, you can build a good business credit history with time, which would be helpful if you ever apply for a loan. 

LLCs in Kentucky enjoy flexible taxation and can be taxed as a sole proprietorship, partnership,  C-corp, or an S-corp. However, you must pay the Limited Liability Entity Tax (LLET) mandated by Kentucky state laws. 

The LLET is a tax on pass-through entities that ranges between $0.095 per $100 or $0.75 per $100 of gross profits, depending on how much your LLC makes annually. If your LLC makes less than $3 million, you must pay at least $175 to the IRS. 

A DBA stands for “doing business as,” a fictitious name under which your LLC can operate. Although not necessary, you can apply for a DBA if you want to use a shorter, more memorable name than your legally registered business name. 

To file for a Kentucky DBA, you must apply for a Certificate of Assumed Name via the Kentucky Secretary of State. This form can be filed online for a $20 filing fee or mailed with a check addressed to the Kentucky State Treasurer. 

A new Financial Crimes Enforcement Network (FinCEN) rule states that most business entities, including LLCs, must file a BOI report effective 1 January 2024. So, if you’re starting an LLC in Kentucky, you’ll need to file this report. 

Your LLC’s BOI report should contain the full legal name, age, address, and other essential information about the beneficial owners of your company. You may also need to disclose your LLC’s legal business name, DBA, and EIN or SSN.

Kentucky State laws mandate LLCs with one or more employees to acquire workers’ compensation insurance. It provides medical and disability benefits to your employees if they ever experience work-related injuries or illnesses. 

Although it is not mandated, you can also get general liability insurance for your LLC in Kentucky. This is a broad insurance policy that protects your LLC from legal costs or financial losses that may occur due to property damage or accidents.

Although it is not required, creating a business website for your LLC in Kentucky is advisable. Your website domain should correspond with your registered business name or DBA name, to make it appear more professional and legitimate. 

When creating your website, ensure that it is well-structured, easy to navigate, and engaging for your site visitors. Opt for a user-friendly design and use your brand color, logos, and other elements representing your unique brand identity.

After launching an LLC in Kentucky, remain compliant with the state laws to stay in good standing with the government. LLCs in Kentucky are required to file an annual report, which is due between January 1st and June 30th every year. 

If you miss the deadline for filing this report, you may be charged a fine for late filing. If you fail to file the document, your LLC may be dissolved, and the Kentucky Secretary of State can revoke your license to operate.

Here are the free services offered by Inc Authority:

• Business name search: Inc Authority provides a free name search tool to help you quickly search for available business names. All you need to do is enter your desired name, and it will let you know if it’s available.

• 1-year registered agent services: You won’t have to find a credible registered agent because Inc Authority provides this service. You can get access to registered agent services for up to one year at no cost. 

• Online document storage: With Inc Authority, you can store all important documents relating to your LLC in Kentucky on an online database and easily access them through your account when needed.

• Tax advisory: Inc Authority helps you plan and file your taxes by offering a team of experts to provide tax planning services. They’ll guide you into adopting a beneficial tax structure that maximizes your LLC’s tax savings.

• LLC formation: The primary service Inc Authority is known for is LLC formation. Its experts will be available at every step of the application process to ensure you successfully launch a legally registered LLC in Kentucky.

• S-corp election filing: If you decide that your LLC in Kentucky should be taxed as an S-corp, you must fill out an S-election form. Inc Authority’s professionals can help you review and submit this paperwork.

• Business funding analysis: Inc Authority provides business funding analysis to help you determine how much you need to grow your business. It also goes one step further by recommending trusted funding options if necessary. 

Inc Authority’s free plan gives you all the basic services you need to start an LLC in Kentucky, but its paid plans offer more personalized services.

Price: Free

Here’s what you can expect with this plan:

• LLC operating agreement: By providing professional templates and expert guidance, Inc Authority will help you create a comprehensive operating agreement that clearly defines how your LLC will conduct business. 

• Tax ID Application: Getting an EIN is one of the most important steps when opening an LLC in Kentucky. Inc Authority helps you through the process of obtaining an EIN as quickly as possible.

• Corporate forms and document package: Establishing an LLC in Kentucky involves tons of paperwork. Inc Authority takes the administrative burden off you by providing templates to help you draft business documents.

• Annual compliance notifications: Inc Authority’s team is dedicated to ensuring you don’t miss any deadline or legal compliance requirements. You’ll get regular reminders to ensure you file your documents in good time. 

• Detailed tax consultation: The free plan offers general tax advisory, but the Starter plan provides more in-depth tax consultation. Inc Authority’s experts will analyze your business needs and map a befitting tax structure for you.

• Web domain + 5 business email addresses: If you choose Inc Authority’s Starter plan, you get a custom web domain and up to five business email addresses to help you kickstart the digital marketing aspect of your business.