An LLC is a business entity incorporated under state law that can protect you from personal liability. LLCs are becoming the most popular way to start a business because of their ease and flexibility. Visit the Georgia Secretary of State`s Companies website for additional information that can help you determine the best structure for your business. To ensure a smooth registration process, you should consider the assistance of an online service provider. LLC Cons: Unlike a sole proprietorship or partnership, an LLC must have a registered agent. Hiring a registered external agent costs between $40 and $500 per year, depending on which agent you hire. A registered representative is also required for corporations, LPs and LLLPs. The founders are responsible for signing and filing the articles of association. Their names and addresses must appear in the statutes. LLCs have simpler record-keeping rules. Companies are stricter. When specifying founders, the following requirements apply: If you intend to operate your business under a name other than the business name you have chosen, you may need to register a fictitious name (also known as “Doing Business As” or DBA, “assumed name” or “trade name”). The laws surrounding CDIs vary from state to state and may even differ at the district and city level.
Check with your local, state, and regional business development office, business, or small business for location details. Choosing a business name for your business is an important first step when starting a business. We include step-by-step guides to reviewing your LLC documents and starting your business. When choosing your business name, keep the following requirements in mind: Are you confused about your options? Answer a few simple questions and find out which one might be right for you. In some states, the elements are called “organization certificates”. C`s corporate income is taxed twice – the corporation pays taxes on its net income, and then shareholders also pay taxes on the profits they receive. In the case of the income of company S, only the shareholders pay taxes on the profits made. You will likely need to include a business name – a word that identifies your business as a business – such as “Incorporated” or “Limited” or “Corporation” (or the short version of these terms).
You should also check your state`s restricted word list. These are words that you are not allowed to use in your company name. Common restricted words are “bank” and “insurance.” While laws don`t need to be filed with the state, they are an important part of running a business, and you can consult a lawyer for help drafting appropriate laws for your business. When the Secretary of State receives your charter, your business officially begins. Within five to seven business days, the Secretary of State will process your application and send a certificate of organization to your business address. Although Georgia is a DBA designation system for counties, there are some common types of information required by most counties. These include: A trade name, fictitious name or DBA (short for “doing business like”) is a term that some companies search for if they want to do business under a name different from their original name. For sole proprietorships and partnerships, this means that the company wishes to register a name other than the names of the owner or partners, and in the case of corporations, LLCs and similar companies, it means a name different from the name chosen at the time of incorporation. In some states, including Georgia, the DBA designation process is conducted by the judicial system, in this case by the clerk`s office of the Superior Court of the county in which the company plans to operate.
Both protect owners so they are not personally caught up in the company`s liabilities or debts. However, the main differences include how they are owned (LLCs have one or more individual members and corporations have shareholders) and maintained (companies typically have more formal record-keeping and reporting requirements). Get help from a legal lawyer if you need it. No expensive hourly fees. No surprise prices. The articles of association describe the internal rules and operating procedures of a company. They may also contain provisions governing the conduct of business and the regulation of the affairs of the company. Generally, the articles contain provisions such as the number of officers and directors, the manner in which officers and directors are selected, and the manner in which directors and shareholders` meetings are called and conducted. With an average of 15 years of experience and an average rating of 4.8 out of 5 stars, you can count on our network lawyers to give you the help you need. How to Start a Georgia Company by Jane Haskins, Esq. Georgia is one of the states where DTA naming procedures vary from county to county. Therefore, it is important to contact the county official in the county where the company operates for county-specific details.
20 personalized corporate share certificates and an official corporate seal. Whether you`re ready to shape or decide, we`re here for you. Find out if an LLC is right for you – or enter your name to get started. Starting at $79 + registration fee. Benefits of LLC: An LLC may find it easier to raise investment capital than if it were structured as a sole proprietorship or partnership. None of these other forms of business can welcome investors without making them a partner, but it is possible for an LLC to add new members without giving them a full role in management.