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Starting an LLC in Georgia
LLCs
(Limited Liability Companies):
Names:
The LLC name must
contain
the words "limited company"
or
"limited liability company"
or the abbreviation L.C.,
LC,
L.L.C.
or LLC.
The
name cannot contain any word or phrase that indicates or implies
that it is organized for the purpose of
conducting
any business other than a business which it is authorized to
conduct. The name must be distinguishable from the name of any
active domestic or
foreign
LLC or corporation filed with the state.
Registered Agent:
All LLCs must list the registered agent. The registered agent must
have a permanent legal address in
Georgia where legal papers may be accepted on a regular basis.
Members: Georgia
law allows a Georgia LLC to only have 1 Member and there are no
restrictions on who can be a Member. So, any individual,
corporation, trust, partnership or another LLC may be an owner
(Member) of an LLC.
Operating Agreement:
While Georgia law does not specifically require a written Operating
Agreement, many of the provisions of the Georgia LLC Act contemplate that a Georgia
LLC have an Operating Agreement. An Operating Agreement is the
most important document for an LLC as it establishes the owners of
the LLC and a management structure for an LLC.
Management:
A Georgia LLC can be
either member managed or manager managed. If your LLC is going
to be manager managed, your formation document should state that the
LLC is manager managed and have other important provisions regarding
management.
Business Purpose: Starting a Georgia LLC can be for any
lawful purpose. There are no restrictions under the Georgia
LLC Act restricting the type of business activity an LLC may engage
in. In addition, the business purpose of starting the Georgia LLC is not required to
be set forth in the Articles of Organization.
Annual Fee.
A Georgia LLC needs to file a simple annual registration statement
with the State of Georgia each year and pay an annual $30
fee. This requirement must be made by April 1st of each year.
Late payments and filings are subject to penalties and can result in
the cancellation of the LLC.
ORDER GEORGIA FORMATION SERVICES:
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