Georgia is a major hub of commerce in the southeast United States. With many businesses and corporations, both large and small, calling the Peach State home, it is no surprise that entrepreneurs are drawn to the area. If you are considering starting your own business, chances are good that you have already done a fair amount of research. You may have scouted the market, or began formulating some branding ideas. Perhaps you have even acquired office space, or thought about assembling a staff. Before you get too far along in your business plan, however, you may want to learn how to form an LLC in Georgia.
Forming an LLC is fairly commonplace in the business world. Officially known as a “limited liability company,” an LLC offers structural and tax benefits that many business owners partake in. Read on to learn more about whether or not an LLC makes sense for your business goals and aspirations.
The Perks of a Limited Liability Company
Starting a business calls for a lot of preparation. Even the most organized entrepreneurs, however, cannot necessarily prepare for every risk they may encounter. The most realistic goal you can hope to achieve in that area is to mitigate your risk as much as possible. By creating a limited liability company, you can effectively protect your personal assets should an adverse event happen to your business.
The concept of “limited liability” means that your business, as an LLC, is its own entity. As such, you cannot be found liable for bankruptcy or legal action. As you can imagine, this is a sizable advantage to a business owner. Since you–and other owners in your LLC–can remove the prospect of personal financial disaster from the equation, you may find taking a chance on your own business to be more palatable.
There are also tax incentives to be gained when establishing an LLC. A corporation can find itself being taxed twice–once on the profits it has generated as a business, and then again on the income of the shareholders. The Internal Revenue Service (IRS) treats LLCs a little differently. They are deemed to be “pass-through” entities, which means that profits made by the business “pass through” to the members of the LLC, who in turn pay an income tax on their salaries.
How to Form an LLC in Georgia: Where to Start?
Are you intrigued by the idea of starting an LLC? Are you curious about where to begin the process of creating one? Well, it all starts with a name. In the state of Georgia, you will need to choose a name for your business that is unique from any other LLCs on record. It will also need to include the words “Limited Liability Company,” or a suitable abbreviation.
Next, you will want to designate what is called a “registered agent.” This individual will be tasked with receiving any service of process on behalf of your business. In other words, if your business is served with legal papers, the person in this role will accept them. This can be a member of your LLC, or hired legal counsel.
Another prudent measure to take at this juncture would be to obtain any permits you need to operate your business in Georgia. Restaurants, bars, and several other types of business ventures will require specific licensing. Be sure to study up on state regulations as well as the requirements of your local jurisdiction.
Filing Your Articles of Organization
With some preliminary steps in-place, it is time for you to file your articles of organization with the Georgia Secretary of State’s office. The form you will need is officially called a “Form CD 030.” Fortunately, in comparison to many other states, Georgia’s version of an LLC registration document is rather short. You will be asked to provide some relevant information about your business, as well as your signature. You can then return this document via mail to the appropriate state office.
Forming an LLC Online with Our Help
If you are in the process of starting your own business, it may seem as though there are simply not enough hours in the day to get things done. Adding a trip to the post office to your already overwhelming schedule may not seem like the most appealing idea. The good news is, by working with us at the Corporation Center, you can apply for an LLC online in just minutes.
We feature a host of web forms for Georgia business owners, all formatted in an easy-to-read style. Using our SSL-encrypted web portal, you can complete your registration documents online in a quick and efficient fashion. No matter what your business documentation needs may be in the Peach State, the Corporation Center has got you covered. To learn more, contact one of our friendly customer service agents today.