Ing to Alabama law, LLCs are not required to have an operating agreement. That said, having a well-drafted operating agreement on hand is essential for many aspects of your business.
Quick Summary: It takes an average of 4 to 6 weeks to form an LLC in Alabama (standard time) if done by mail and 1 business day if you file online. The expedited processing of the Alabama Articles of Organization costs $100 for a 3-business day turnaround.
A privilege license is a license requirement of every person, firm, company or corporation engaged in any business, vocation, occupation or profession described in Title 40, Chapter 12, Code of Alabama 1975.
Which State Should You Choose? Remember, you don't necessarily need to form your LLC in the same state you live in. Some states, such as Wyoming, Nevada, and Delaware, are known for having such business-friendly rules and cheap filing fees that a lot of out-of-state entrepreneurs choose to file their LLCs there.
A Series LLC is a variation of the traditional LLC but with added advantages. It consists of a “parent” LLC, which is the main entity, and multiple “series” within it. Each series is like a separate business entity, with its own assets, liabilities, and operations, but all under the umbrella of the parent LLC.
There is no standalone annual report requirement for LLCs in Alabama, although entity information is requested annually as a part of the business privilege tax return.
Ing to Alabama law, LLCs are not required to have an operating agreement. That said, having a well-drafted operating agreement on hand is essential for many aspects of your business.
To conduct an Alabama business search, use the Alabama Secretary of State's website, searching by name or entity number. This process can reveal important details about a company's history and legal status.
Alabama requires you to keep your LLC's information up to date by filing the Alabama Business Privilege Tax Return and Annual Report with the Alabama Department of Revenue. This keeps your Alabama LLC in good standing and in compliance with state law so it can continue operating.