Formally known as the Louisiana Limited Liability Company, LLC is similar to other types of business entity forms. However, there are certain differences between an LLC and a corporation or sole proprietorship. In order to take advantage of these benefits, an individual must first register his business as a qualified business agent with the Secretary of State. After this, the individual can file all of his or her business documents, including annual reports, with the Secretary of State.
Like any other entity, an LLC has to file its annual reports with the Louisiana Secretary of State and its operating agreement. The most important of these documents is the Operating Agreement, which details the policies and responsibilities of the LLC. It must be filed along with the latest tax returns, which are due in July each year. Failure to file these documents within the required time could result in serious legal sanctions for the LLC.
All of the other documents related to an LLC in Louisiana are equally important. Among these documents are the Operating Agreement, the Articles of Organization, and the Operating Agreement Supplement. Each of these documents detail the powers and duties of the LLC. The most important document, however, is the Operating Agreement, which governs how the limited liability company is to be operated. An LLC must register its state name, designate an Employer Identification Number, and select a business license type.
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All of the other documents required to start an LLC in Louisiana are equally as important. For example, an Operating Agreement must include all of the names and addresses of all members of the LLC. Each member of the LLC must include his or her address and the city and state of residence of that person. Also, all members of the LLC must include their Employer Identification Number, which is required by the Louisiana Limited Liability Company Laws.
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Once all of these documents have been completed, each member of the LLC must complete and submit to the Secretary of State a duly executed Operating Agreement. This document is referred to as an Operating Agreement. It is extremely important to have a well-written Operating Agreement when you start a limited liability company in Louisiana. It is also something called a "self-help" operating agreement, because it is really a legal document for a company that is starting out and wants to make sure that everything is done legally. Your Operating Agreement will ensure that you operate your business in a proper and consistent manner, and that you follow all of the laws and requirements imposed upon you by the state of Louisiana.
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After all of the paperwork is complete, each member of the LLC needs to get started. To do this, he or she must go to the office of the Secretary of State in Louisiana. There, he or she will get an Application for Operating Agreement, and then a Certificate of Registration, also known as a "resale certificate". The Application can be filled out online, but the certificate needs to be mailed in to the state website. From there, the LLC must get started, and the company secretary is the one who actually starts the company - from the filing of its Articles of Organization to its start date.
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When all is done, the LLC member must then select a registered agent, which is someone that the member can always be reached by phone. Then, the paperwork must be filed with the Secretary of State in order to become officially registered. Then, the member will have to select an accountant, who will be the "principal" and is responsible for handling all of the business's finances. From there, all of the paperwork should be handled by the accountant, who will in turn forward it to the correct place (if different than the Secretary of State's office) for processing. Then, all of the financial reports need to be submitted along with other information to the state's department of revenue, including an annual report (annual return). Finally, any last minute changes (such as adding new investors or getting another file handled) have to be handled by the accountant, and they will provide the needed instructions with their completed paperwork.
One thing that the Llc Louisiana member must not forget about when filing paperwork is that it is actually the state that regulates LLCs, so all of the business bureau's information must be included with the application (which must also include an Application for Company Formation in Louisiana). As mentioned earlier, all of the necessary forms are available online, and each of them is pretty self explanatory. There is no reason why a Louisiana Limited Liability Company cannot be set up in the state - it just takes some research. Plus, there is a lot of helpful information on the state website that a prospective owner can read. Also, for anyone who is considering doing business in Louisiana, there is no better resource than the state website.
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