Llc Meaning For Dummies With Examples
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How to fill out Limited Liability Company - LLC - Formation Questionnaire?
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FAQ
An LLC is considered a legal entity that protects its owners from personal liability for business debts. To qualify as an LLC, the owners must file appropriate paperwork with the state and often create an operating agreement. If you are exploring LLC meaning for dummies with examples, think of it as a way to separate personal finances from business obligations. This distinction is crucial for every business owner.
The articles cost $100 to file online ($110 with a paper form), plus $50 for your Initial Registration report. Once filed with the state, this document formally creates your Georgia corporation. Per GA Code § 14-2-501 (2019), every Georgia corporation must appoint a registered agent.
The document required to form a Georgia corporation is called the Articles of Incorporation. The information required in the formation document varies by state. Georgia's requirements include: Officers.
The profits of the LLC are typically considered to be earned income and subject to the social security portion of the self-employment tax. By contrast, a regular corporation (CCorporation) is subject to being taxed twice on its profit; at the corporate level and when the profits are distributed to the shareholders.
The primary cost to start an LLC in Georgia is the state registration fee of $100 ($110 for in person or mailed filings).
Register online through Georgia Tax Center (GTC), a secure electronic customer self-service portal. To complete the registration, you'll need: Information gathered in previous steps.
A limited liability company is formed by filing articles of organization with the Secretary of State. Form CD 030 may be used for this specific purpose. Use of this form is optional. Articles of organization may also be drafted pursuant O.C.G.A.
Create & File Registration Visit the Secretary of State's online services page. Create a user account. Select ?create or register a business?. ... Fill out the required information about your business entity (listed above). Pay the $100 filing fee by approved credit card: Visa, MasterCard, American Express, or Discover.
To apply, you'll need to provide the following: Legal name, location, and mailing address of the business. Name, address, and social security number (SSN) or other valid taxpayer identification number of the principal officer, general partner, grantor, owner, member, manager or trustor.