Affordable living and a driven workforce make Ohio a great place to start a business. Fortunately, registering a limited liability company (LLC) in the state is as simple as six steps that we’ve outlined for you below.
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Ohio LLC Quick Facts
- To register an LLC in Ohio, you must file Articles of Organization.
- The filing fee to start an LLC in Ohio is $99.
- Ohio requires all LLCs to appoint a statutory agent for service of process.
- Registering an LLC provides you with personal liability protection and tax flexibility.
6 Steps to Registering an LLC in Ohio
Forming an LLC in Ohio is a straightforward process involving just six steps outlined below.
Here are the six steps you need to follow to register your LLC in Ohio:
- Name Your Ohio LLC
- Appoint a Statutory Agent
- File Articles of Organization
- Create an Operating Agreement
- Obtain an EIN and Handle Taxes
- File a Beneficial Ownership Information Report
Step 1: Name Your Ohio LLC
To start, you need to decide on a name for your Ohio LLC.
Ohio business names must meet the following criteria:
- Include “Limited Liability Company” or an abbreviation
- Be unique and distinguishable from any other business entity in the state
- Cannot include terms that imply government affiliation or falsify your business’s purpose
For the full list of naming requirements for Ohio LLCs, refer to the state’s Guide to Name Availability.
To ensure your business name is unique, you will need to complete a business name search on the Ohio Secretary of State website.
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Step 2: Appoint a Statutory Agent
In Ohio, it is mandatory to designate a statutory agent, otherwise known as a registered agent, when registering an LLC. The statutory agent is responsible for accepting legal documents, tax forms, and other important notices on behalf of the LLC.
The requirements for statutory agents in Ohio include:
- Being an individual or business entity with a physical address in Ohio
- Being available during normal business hours to receive documents
- Not being the LLC itself, but could be a member, manager, or an outside party
Who is Eligible to be a Registered Agent in Ohio?
A registered agent can be the LLC owner, an employee of the company, a friend, a family member, or a registered agent service hired for this purpose.
Step 3: File Articles of Organization
Next, you need to file Articles of Organization with the Ohio Secretary of State. This can be done by completing the filing online or by submitting Form 610 either by mail.
The filing fee is $99.
Before filing, make sure you have the following details prepared:
- Name and contact information of the LLC’s contact person
- LLC name and effective date
- The statutory or registered agent’s name and address
- Management structure (member-managed vs. manager-managed)
Quick Note: If your LLC is already formed in another state, you will need to register as a foreign LLC in Ohio. This can be done by filing Form 617 online or by mail along with a filing fee of $99.
Step 4: Create an Operating Agreement
Creating an operating agreement is an important step in forming your LLC in Ohio but it isn’t required by the state. This document outlines the internal procedures and ownership details of your company, ensuring that all members are in alignment and helping to prevent future conflicts.
Step 5: Obtain an EIN and Handle Taxes
The next step is to obtain an Employer Identification Number (EIN) for your business. An EIN is a unique number assigned by the Internal Revenue Service (IRS) that allows them to track your business for tax reporting purposes.
Having an EIN is crucial for various business functions such as filing taxes, hiring employees, and opening a business bank account.
You can obtain your EIN for free on the IRS website.
Additionally, it’s important to identify any additional tax responsibilities specific to your business in Ohio. You can do so by visiting the Ohio Department of Taxation website.
Step 6: File a Beneficial Ownership Information Report
After registering an LLC in Ohio, you will need to file Beneficial Ownership Information (BOI) with the US Financial Crimes Enforcement Network (FinCEN).
New LLCs must submit this report within 90 days of formation, while existing LLCs must complete the filing between January 1, 2024, and January 1, 2025. Failure to file the BOI report on time can result in a $500 per day fine.
You can submit the report online for free on the FinCEN website.
Next Steps
- Open a business bank account to separate and protect your personal assets. Set up a business bank account quickly and easily with Lili.
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- Identify and obtain any licenses and permits that may be required federally or by the state. Learn more about licenses and permits required by the state on the Ohio state website.
- Obtain the necessary insurance coverage for your business, such as general liability, workers’ compensation, and personal liability insurance. Get fast, affordable insurance coverage for your LLC with Next Insurance.
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Additional Tips for Success
- Build a strong network: Connecting with other entrepreneurs, mentors, advisors, and industry leaders can help you navigate the business landscape and provide valuable guidance and support.
- Keep track of your compliance requirements: Ohio has specific reporting and fee requirements that must be met to maintain compliance with state regulations. Stay informed and ensure your business is meeting all necessary obligations.
- Plan for the future: Develop a clear roadmap for your company’s growth and success. Set goals and milestones to help guide your business towards long-term success and sustainability.
Conclusion
When registering an LLC in Ohio, it is important to follow the necessary steps to ensure your business is set up properly. Conduct thorough research and diligently complete the registration process to set your business up for success.