{NOTE: In most states, forming an LLC is instantaneous after we submit the proper paperwork (commonly known as “articles of organization”) on your behalf. But in some states, it takes a while for us to receive confirmation that the LLC has become official. The following steps are to be taken AFTER we confirm that your LLC is official and recognized by your state.}
First things first, let’s talk about your Operating Agreement. This is a super important document that says how your LLC is going to run. It talks about stuff like who owns what part of the company, how decisions are made, and what happens if someone wants to leave the business.
Don’t worry, Indie Law is in your corner, and we will provide you with this operating agreement soon if we haven’t already. Make sure it’s signed by you — and any other co-owners if that’s necessary. And make sure you save this somewhere where you can access it in the future when necessary (See Step 4).
Now that your LLC is official, you’ll want to make sure your business name is on all your official papers. This includes things like your letterhead, invoices, and any contracts. It’s like telling the world, “Hey, we’re official now!”
Note that you don’t need to include the “LLC” in your business name for branding purposes (like your logo, on social media, etc.). Most brands choose not to include the LLC in their branding (see Google, for example), but it is an option if you’d like.
Applying for an Employer Identification Number (EIN) helps make sure all your tax stuff is in order. Applying for an EIN is free to do and highly recommended.
If your business already had an EIN before becoming an LLC, you need to let the IRS know about this big change. Note that getting a *new* EIN isn’t necessary if you already have one.
If you don’t have an EIN yet, now would be a good time to get one. Indie Law can do that for you on your behalf at no extra cost.
If you’ve already got a bank account for your business, you’ll need to update your bank about your LLC status. This might mean giving them some new paperwork or maybe even setting up a new account just for your LLC. It’s important so that all your money stuff stays neat and tidy.
Many, but not all, banks will want to see a copy of your signed operating agreement, so we recommend bringing that with you just in case they ask for it.
Last but not least, take a moment to celebrate! Starting an LLC is a big deal, and you’ve done awesome. Go out and celebrate your hard work. You deserve it!
We’re talking business names, logos, slogans . . . even podcast titles. Lots of entrepreneurs don’t protect their trademarks until it’s too late. So we made a short, free video to help you avoid the biggest, most dangerous mistakes that business owners make.
Wanna see it?
