Saturday, January 24, 2009

Forming an LLC in Missouri

Question: I want to form an LLC in Missouri, what do I do?
It's a fairly easy process (especially for a single-member LLC). Here are the steps.

  1. Check to ensure that your name is available. The name must include "Limited Liability Company", "Limited Company", "LC", or "LLC". You can either call the secretary of state’s office or search their web site here:
    www.sos.mo.gov
    I generally search online even though the data may be month or so old.
  2. Fill out and send in Articles of Organization for your LLC.
    www.sos.mo.gov
    This is a fillable PDF form (one page plus directions).
  3. LLC operating agreement. Does a single member LLC need one? Missouri states that all LLCs must have an operating agreement. As a practical matter, the bank will ask to see it when you go to open an account even if this is a single member LLC. MedLawPlus.com® has a form for that.
  4. Tax identification Number. You can quickly obtain a Federal tax ID number for your business by applying online--
    www.irs.gov (Click "Apply Online" link.)
    For entity type, check the box for “LLC”. If you are forming a one-person LLC, you will automatically be a disregarded entity for tax purposes allowing you to forgoe filling an LLC tax return and, instead, report income / loss from your LLC on your individual income tax return (Schedule C).
I hope you find the foregoing helpful. Steps three and four are the same for all states. Those wishing links for steps 1 & 2 in another state, please leave a comment.

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