Whether you’re a hairstylist considering opening your own salon, a web designer who wants to set out on your own, or an individual simply wanting to go into business with a friend, there are several great reasons to consider forming a Limited Liability Company (LLC) in the state of Ohio.
Let’s take a look at just a few of the reasons. We’ll also examine a few best practices for doing so in Ohio.
Benefits of Forming an LLC
Forming an LLC provides your business with lawsuit protection. It can also lead to substantial tax savings (be sure to speak to your CPA when considering different formation options). Creating a separate legal entity as an LLC also protects your personal assets, assuming you operate the LLC according to your Operating Agreement. Finally, doing business as a legal company also enhances your credibility and your brand. Adding “LLC” to the end of your company name communicates a positive message to prospective and existing customers.
Who Can Form an LLC?
An LLC can be created for any type of work that an individual legally does, whether for profit or nonprofit purposes. If a professional service is being offered, the individual providing the service must be certified, licensed, or legally authorized to provide the service.
What Steps Need to be Taken to Form an LLC in Ohio?
If you’re interested in forming your own LLC, you’ll want to carefully consider the name you’d like to choose for the company. That name will be used on all business documents and will shape your business for years to come.
The Ohio Secretary of State requires that individuals wishing to form an LLC file the Articles of Organization, which includes information about the business. New companies will also need to create an Operating Agreement and make distinctions between members and managers.
Many business owners choose to speak with an attorney before filing their LLC paperwork.
Talk to an LLC Expert in Columbus, Ohio
Interested in learning more about forming your own LLC in Ohio? Contact the business law experts at The Law Office of Tom Somos, LLC to learn more.
Call today at 614-488-2270.