Key Steps for
Georgia LLC Formation
The required steps for a proper
Georgia LLC Formation are governed by the statutory laws and the
case law in the State of Georgia.
The great news about Georgia LLC
Formation is that it is available to anyone who wants to start a new
business and protect themselves and their assets from the
liabilities of the business enterprise. The bad news is that
in order to really gain the benefit of the liability protection, a
Georgia LLC Formation needs to be done properly and the Georgia LLC
needs to be maintained properly once the Georgia LLC has been
formed.
The first step to
a proper Georgia LLC formation is to determine whether a Georgia LLC
is the right legal entity for your contemplated business.
Generally, the Georgia LLC is an excellent legal entity for the
small business because it offers Georgia LLC owners a simple
structure that is flexible enough to be tailored to most small
business situations as well as tax choices and minimized legal
formalities.
Once you have
determined that a Georgia LLC is suitable for your business, the
next step is to determine who will be the owners of the Georgia LLC.
While the owners of a Georgia LLC are not required to be disclosed
in the Georgia LLC Formation process, this step is important because
it is these owners who will decide on the important decisions for
the new Georgia LLC. As part of this step, the ownership
breakdown of the LLC owners should be determined as well as who will
have the rights to operate and run the Georgia LLC.
Okay, this leads to the next most important step to
Georgia LLC Formation. And, this is ensuring that the Georgia
LLC is properly formed with the State of Georgia. The Georgia
laws require that certain information be included in any filing made
with the State. In addition, to having an acceptable name for
your Georgia LLC, as part of the Georgia LLC Formation process, your
LLC will need an identified principal business address and a
statutorily qualified Georgia Registered Agent. If you use our
Georgia LLC Formation Services, we will ensure your filing is
properly prepared and filed in a timely manner.
Once your Georgia LLC Formation has been completed,
the Georgia LLC will be in existence under Georgia Law and
eligible to conduct business. However, in addition to Georgia
LLC formation, there are several steps to complete the new business
entity process and this covers actions such as issuing LLC ownership
units to members so that the Georgia LLC has Members and putting in
place an agreed upon governance structure so the LLC has known rules
for how to operate. These objectives are typically accomplished with
the use of a Georgia LLC Operating Agreement which should be put in
place immediately after completion of the Georgia LLC Formation.
A last essential step of a Georgia LLC Formation is
to open a bank account in the name of your Georgia LLC so that you
can immediately start operating the LLC as a separate business
entity. Banks will require that your LLC have a taxpayer
identification # (known as an EIN#) to be used to open an account.
The above material describes the
essentials of Georgia LLC Formation. Please note that there
are many other subjects in addition to Georgia LLC formation that
you should become knowledgeable about when running a new business
(things like license requirements, contracts, accounting, tax, and
marketing).
GeorgiaBusinessFormation offers the fastest and complete service to
forming a Georgia LLC which for a
limited time includes an excellent eBook to teach you about what to
do after formation to preserve limited liability protection.
