Why should you get a Limit Liability Company (L.L.C.) for your business? The basic answer for individual freelancers or sole-proprietors would be because it provides legal protection for themselves and their company. Here are 5 easy steps to complete in order to obtain your LLC.
Step 1: Certificate of Ownership
If you haven’t done this already, make sure to fill out a Certificate of Ownership with your local government body to be recognized as a business in your area. A quick Google search will help you find the correct forms to fill out.
Step 2: Get Your Certificate Notarized
This is fairly easy. Just show up at the office of the County Clerk with your completed form/s and pay your filing fee. Make sure to have cash. Once notarized by a deputy clerk and you’ve paid your fee, you will be advised where to submit your paperwork for publication within your local newspaper. You MUST do this within 15 days of filing at the office of the County Clerk.
Once complete, your local paper will send you proof of your submission. This proof must be filed at the office of the County Clerk within 50 days of your first filing.
The office of the County Clerk will then send you an official DBA (Doing Business As) certificate.
Step 3: Set-Up Your EIN
Don’t forget the IRS. You’ll need to acquire an EIN (Employer Identification Number) with the IRS for your new company. Nothing screams “unprofessional” more than giving our your Social Security Number to your clients.
Step 4: Submit Your Articles of Organization
You’re getting close. Now it’s time to submit your Articles of Organization (in Illinois, LLC-5.5) to the Department of Business Services Limited Liability Division in your state. Pay your filing fee with the proper form of payment.
Step 5: Submit Your Annual Report
Final step. Once you have received approval from your state government, you will need to submit an LLC Annual Report (in Illinois, LLC-50.1) next year with your yearly payment. Make sure you don’t miss your deadline otherwise you’ll incur an extra fee.
If you’d like to go the extra mile with your business paperwork, checkout freelancekit.