The record-breaking year in Ohio was 2021. 181,586 new ventures were launched successfully by November. It makes sense that more potential business owners are considering starting an LLC in Ohio as they seek to establish businesses throughout the state. This guide will show you how to create an LLC in Ohio. We will walk you through each step of the process and highlight important points. This guide will show you how to create an LLC in Ohio. We will guide you step-by-step through the process and highlight important considerations.
How to File for an Ohio LLC
Before you file any paperwork, some of the most important steps in LLC formation are taken. Here are some important details you should know before you form your LLC.
Research Your LLC Business Name
You must make your LLC name unique before you can open an LLC. New LLC names in Ohio must be distinct from any other trade or business names. You can easily check availability using the official business search engine available on the Secretary-of-State website.
You can reserve the name up to 180 days if the name you desire is not yet available. Either you can fill out the online name reservation form or download and send Form 534B the Name Reservation form. The fee for either option is $39.
Select an Ohio Statutory Agent
Ohio law requires businesses to have a statutory representative, also known as a resident or registered agent. They are responsible for accepting official documents, including court documents and important letters from the state, on behalf of your LLC.
You can choose to be your own statutory agent, or to select another employee or member of the LLC. To qualify, the person must be at least 18 years old and have a physical address in Ohio. You can also hire an outside company to act on behalf of your LLC as a statutory representative. The annual cost is typically between $100 and $200.
After you have completed these steps, you are ready to submit your LLC paperwork.
How to Get an LLC in Ohio
After you have taken care of your Ohio business name, and obtained a statutory agent you can proceed with the formal registration of your Ohio LLC. Online registration of an Ohio LLC is possible. You can also submit Form610, Articles Of Organization for a Domestic Limited Liability Company. Out-of-state LLCs may register in Ohio online. No matter if the LLC is foreign or domestic, the filing fee is $99
You can file online at the Ohio Secretary Of State’s filing portal. You can also download the documents and send them to P.O. Box 670, Columbus, Ohio 43216. Box 670, Columbus, Ohio 43216.
For faster service, please send the completed forms to P.O. Box 1390, Columbus, Ohio 43216. Two-day service is available at an additional $100 Additional fees may apply for faster processing.
What happens after you have set up your LLC?
After you have received confirmation that your Ohio LLC has been registered, you should now be focusing on its long-term stability. These are some additional tips to help you plan your Ohio LLC.
Rapidly correct any filing errors
It is possible to make one or more errors when you rush to file your LLC. You might have misspelled the business name or entered the wrong address. You can correct any errors by submitting a Form 612 Certificate of Correction as soon as possible. The fee is $50.
You can also submit Form 521 if you wish to change your statutory agency. Changeover costs $25
Make an LLC Operating Agreement
The LLC operating agreement is the foundation of your business. It outlines what members and other stakeholders can expect from you going forward. No operating agreements are required by law.
These agreements can be used to dictate everything, from voting rights to day-today operations. These agreements can be used to make it easier for you to prove your company’s legitimacy and maintain its good standing.
Register for an Employer Identification Number (EIN)
An EIN is required for most businesses. It can also be called a Federal Tax Identification Number, (FTIN), or Federal Employer Identification Number. You don’t need an EIN if you have a single member LLC without employees; you can simply use your Social Security Number.
An EIN is a great way to protect your Social Security number from fraud and theft. EINs can be obtained through , the official IRS website.
Create a website and your social media accounts
It is never too late to start building your online brand presence. Many companies use social media platforms such as Facebook, Instagram and TikTok to reach new customers. Customers also look for websites to learn more about companies before purchasing products or services.
You can build brand authority and reputation by purchasing a domain name and creating a social media account on at minimum one platform. You can hire social media marketers and managers to expand your online presence if it isn’t something you feel comfortable with.
Your Ohio LLC can be dissolved
You may need or want to dissolve your LLC in Ohio. You may want to dissolve the LLC or establish a domestic LLC elsewhere. You can quickly dissolve the business by filing form 616. This form is available to foreign and domestic LLC owners. The associated filing fee of $50 is required.
Most Frequently Asked Questions
What is an LLC?
A limited liability company combines the flexibility and ease of a sole proprietorship or partnership structure with the greater risk protection offered by a corporate structure. LLC owners, also known as “members”, have limited liability. This means that their personal liability to the company is limited to what they have invested. It does not cover losses or debts beyond that amount.
Members of an LLC are subject to taxes by default. This is the same as for owners of a general partnership or sole proprietorship. This structure is commonly referred as a “pass through” tax structure. If the LLC meets certain criteria, it can choose to be taxed either as a C corporation Ccorp (S-corp), or as an S corporation (Scorp). Small business owners prefer LLCs because of their simplicity and flexibility.
How can I obtain an LLC in Ohio
After you have settled on a business name, you can register your LLC by submitting Articles of Organization (Affiliations of Organization) to the Ohio Secretary of States. This can be done online, by mail or in person.
What is the cost of forming an LLC in Ohio?
The cost of setting up an Ohio LLC is $99. A foreign LLC registration in Ohio costs $99, as well. If you need expedited processing, an additional fee will be charged.
Do I need to file annual reports on my Ohio LLC?
No, Ohio doesn’t require LLCs file annual reports.