How To Form An LLC In Georgia – 2023 Guide
Understanding how to form an LLC in the state of Georgia is a fairly easy process. Let’s walk you through the process of creating an LLC in Georgia step-by-step and point out crucial factors to take into account.
Pick a Name for Your LLC
Finding out if the name you have in mind for your company already exists is the first thing to do. Your business name must be distinct from other Georgian companies in order to create an LLC there. The terms “limited liability company,” “limited company,” or the initials “LLC,” “LC,” “L.L.C,” or “L.C.” must also appear in the name of your LLC. Limited and company can both be shortened to “ltd.” and “co.” respectively.
Review Georgia’s name availability requirements and run a name search on Georgia companies to avoid any potential issues. You can file your LLC form if your name research comes back clean. You can also pay $25 to reserve your name for 30 days if you aren’t ready to file just yet.
Choosing a registered agent.
A registered agent is a person or organization that has the legal right to receive correspondence from the government on your LLC’s behalf. A firm that is permitted to conduct business in Georgia, a Georgia corporation, or a Georgia resident may all serve as registered agents. The agent must have a Georgian street address.
You can designate yourself, a worker, a friend, or your attorney as your registered agent in Georgia; a third party is not necessary. A registered agent service that handles the job for you might be used in lieu of this
Submit Your Forms for a Georgia LLC
The Georgia Secretary of State will receive your Articles of Organization if you’re creating a new LLC there. Online filings for the procedure cost $100, while paper filings cost an extra $10. See the section below on foreign entities if you wish to register your business in Georgia if you already have one operating in another state.
What Else Georgians Should Know About LLCs
Here are a few other essential considerations.
Foreign Organizations
You are a “foreign entity” if you have already established an LLC in another state. By submitting an Application for Certificate of Authority and paying a $225 fee ($235 for paper filings), you can request permission to conduct business in Georgia.
The procedure might be more difficult, though, if you wish to move your out-of-state LLC to Georgia. Georgia is not one of the states that permits LLC domestication, a straightforward process that lets you move an LLC from one state to another. It’s a good idea to get legal counsel on the optimal transfer procedure structure for your company because there are a few distinct options.
Annual Registration of Businesses
Be advised that between January 1 and April 1 of every year, Georgia requires LLCs to submit an Annual Business Registration. There is a $50 fee. You will be charged a $25 late fee if the registration isn’t received by the deadline.
Things to Have Ready for Annual registration:
- The control number or business name
- The name of person filing the annual registration
- An email address
- The mailing address of the principal office
- The name and address of the registered agent.
- Acceptable form of payment.
Credit cards, checks, including certified checks, and money orders are currently accepted in Georgia. The steps to finish the procedure are listed on the official website.
Georgia Operating Agreements
It’s not necessary to have an operating agreement to form your Georgia LLC. Operating agreements are still helpful instruments. A professional foundation will be established if you create one when you first form your LLC. If an LLC has numerous members, each one will be aware of their specific responsibilities inside the company as well as their legal and financial responsibilities.
An extra layer of liability protection may also be offered by the existence of an operating agreement. It further confirms that your personal funds and your business are totally distinct from one another.
What is an LLC?
Limited liability company is referred to as a “LLC.” It is one of several kinds of legal entities that entrepreneurs may create. LLCs offer superior liability protection over sole proprietorships and are more adaptable than corporations. LLCs effectively protect your personal assets, and you have a variety of taxation options.
What’s the difference between an LLC, DBA and a corporation?
Using a DBA, or doing business as, enables an individual to conduct business using a trade name other than their legal name or their already-existing company name. A DBA is a company’s registered moniker rather than a specific kind of business.
Registered business entities include corporations and LLCs. Shareholders own corporations, whereas “members” are the people who own LLCs. Read up on the distinctions between corporations and limited liability companies for a more complex understanding.
What’s the cheapest state to register an LLC?
Kentucky is the cheapest state at present, with a $40 filing fee. Please note LLC pricing is subject to change. Fluctuations in costs could cause another state to become more affordable.
Can I get an LLC for free?
While fees are often associated with LLCs, qualified persons may be exempt from them under specific conditions, such as when state legislatures vote to eliminate costs for veterans or people from low-income neighborhoods. To find out if such exemptions are now offered and to find out if you qualify, contact the stat
