A limited liability company, or LLC, is a unique business entity that combines the benefits of a corporation and the benefits of a limited partnership. Forming a LLC in California is a multi-step process and an incorporation attorney at Beverly Hills Law Corp., PC can assist you every step of the way.
- Step 1
Fill out and file the Articles of Organization, Form LLC-1. They are available from the California Secretary of State’s website. Regarding the name of your LLC, California law provides that the name must end in LLC, L.L.C., to signify it is organized as a limited liability company. An LLC cannot have in its name the words bank, trust, trustee, incorporated, inc., corporation, corp., insurer, insurance company, or any other word which would lead a person to believe the LLC is in the insurance business. Additionally, the California LLC cannot have a name that would mislead the public or a name that is the same as the name of an existing California LLC. A business attorney at Beverly Hills Law Corp., PC can help you select a legal name for your LLC.
- Step 2
Select a registered agent and an address for the registered agent.
- Step 3
Select how many managers for the LLC there will be and list the organizers of the LLC. An LLC can be a multi-member LLC or a single-member LLC.
The filing fee to form an LLC in California is $70. One should also be aware of the annual minimum franchise tax for a California LLC, which is $800. This tax must be paid by every LLC, regardless of whether this California LLC is doing any business or making any money.
Once the Articles of Organization have been filed, your LLC is formed and you can start doing business under the LLC’s name. However, there are numerous other steps that an LLC should take. These include the following:
- Opening up bank accounts.
- Obtaining an Employee Identification Number if it is going to have employees.
- Filing for a fictions business name, if required.
- Obtaining any requisite licenses or permits.
- Determining whether the LLC wishes to be taxed as an S-corporation, and drafting the operating agreement.
To assist you with these tasks, we at Beverly Hills Law Corp., PC offer affordable flat-rate packages. Leave it to us to establish your LLC–and enable you to legally do business under it–while protecting your personal assets.