how much does it cost to get a llc in ohio [Deep Research]

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Last updated : Sept 8, 2022
Written by : Noble Palu
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how much does it cost to get a llc in ohio

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how much does it cost to get a llc in ohio

Comment by Oren Raber

do you want to incorporate an llc in ohio but are unsure where to begin today you will learn about the most common ways to start your business including the correct forms you'll need how to register your llc critical naming requirements and all other important tips and tricks then as a bonus later on in the video i will reveal to you a trustworthy registered agent who will help set up your llc for free so make sure to stick with me until the end ohio llcs are cost effective and easy to set up the state of ohio like other states has several specific llc requirements there are three main ways you can start an llc in ohio first is the diy or do-it-yourself process where you mostly depend on ohio state's website the second way is hiring a professional service that practically offers more efficiency and security in a process of creating your llc while the third one is hiring an attorney we will skip the attorney hiring portion because that's expensive and most business owners won't need that service first let's take a look at the steps required for starting an llc on your own step one name your business before anything else you will have to think of the llc's legal business name each llc in ohio must have a distinct llc name that is not currently in use you must include the terms limited liability company or an abbreviation such as llc you cannot include phrases such as a corporation which would lead people to believe you are a different business organization knowing if your business name is taken or not is very easy just go to google and type in the words business entity records ohio secretary of state and click the first search result i also have the link in the description below for your convenience it will lead you to a landing page of business entity records in ohio scroll down a little and you will see some search options which makes checking the availability of your business name easier generally you can click the first option entity name and type in your business name for example i am typing a very common business name here car wash express which will give you a list of existing business names a unique business name will say no matches found just like this random name i typed in keep in mind that the division of revenue doesn't check names for trademark compliance it's ultimately up to you and your business attorney to ensure that your llc's name doesn't infringe on any other company's rights if a business name is available you have the option to reserve the name for up to 180 days to reserve a name you can submit a name reservation form form 534b online or by mail along with a 39 processing fee this grants you the right to use the name if you file your articles of organization within 180 days step two ohio requires llc to have a registered agent an agent has a physical address a po box is not allowed and is available during business hours this agent will serve as the llc's primary point of contact for receiving key legal papers tax warnings summons subpoenas and so on you can register yourself or someone in your company but i highly recommend getting a professional registered agent as they have more knowledge by protecting your company in cases of possible cracks while i agree that family members or friends are reliable enough to be trusted as your llc's agent you are more comfortable sleeping at night knowing that your agent is professional and trained to manage legal documents to avoid problems concerning court schedules filing reports with the secretary of state etc besides hiring a professional registered agent is not expensive in fact there are companies who offer a free registered agent as part of your package when you form your llc through them inc file is a company i recommend which has this free service inc file offers a free registered agent on your first year of signing up for their service during that free year you can already take advantage of a professional and trained agent to receive legal documents on your behalf a dashboard where you can always access the correspondence that your agent has received as well as email notifications and automatic forwarding whenever your registered agent receives documents step 3 check if you need an ohio business license several types of companies need a business license to operate in ohio the ohio secretary of state maintains a checklist of licensing requirements for different industries your county or city government can also give you detailed licensing information for your business anyone who sells tangible personal items or taxable services must obtain a vendor's license from the ohio department of taxation you're responsible for collecting the appropriate amount of sales tax and forwarding it to the state with monthly sales tax returns if you're doing business under a trade name that's different from your llc's legal name then you'll need to register your trade name or file a fictitious business name using form 534-a the filing fee is 39 under ohio law trade names must be distinguishable from other business names on file with the secretary of state fictitious business names need not be distinguishable from other ohio business names step 4 filing the ohio llc certificate of formation after that you must file the certificate of formation with the ohio secretary of state's business entities division and the office of the judge of probate to officially incorporate a domestic ohio limited liability company the ohio state filing cost for llcs is 99 for both domestic llcs and foreign llcs what's the difference good question basically a domestic llc means that you are already a resident of ohio and you want to build a business in ohio foreign llc on the other hand is for people living outside ohio but wants to start a business or a franchise of their business in ohio with that said most businesses would be applying for a domestic llc you can file the certificate of formation online or by mailing it to the secretary of state expect the llc certification process to take approximately two weeks this is three to four days for the judge of probate and ten days for the secretary of state step five prepare an operating agreement now an operating agreement is a good idea to have in place with the other members if your llc has more than one member although a limited liability company operating agreement is not necessary for ohio your operating agreement should clarify how your company or business will handle big picture issues such as allocating earnings and losses and dissolving the company your operating agreement should also cover the transfer of membership interest profits or losses and distributions initial investments decision making powers voting rights and management and lastly dissolving the business step 6 obtain an ein an ein or employer identification number is a federal tax id issued by the irs your ein is used by them to readily identify your firm and tax filings all ohio firms pay a business privilege tax and the state requires you to have an ein to file you may also be required to provide your ein when opening a bank account or applying for municipal permits or licenses obtai

Thanks for your comment Oren Raber, have a nice day.
- Noble Palu, Staff Member

Comment by hefengylul

Thanks for this interesting article

Thanks hefengylul your participation is very much appreciated
- Noble Palu

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