What to do after you form an LLC

On Behalf of | Oct 6, 2017 | Business Formation

If you are considering forming a limited liability corporation (LLC) for your business in Cincinnati, there are plenty of things you should do afterward. Every item listed below is just as important as the others. Be sure you take into account all of the items on this list for the steps you take after forming an LLC.

Once the paperwork is filed, you can create and then execute the bylaws of the organization. The bylaws will govern the daily operations of the company, including how meetings are held, when votes are required, how stock issued and the duties for the officers.

You can also acquire an employer identification number (EIN) for federal tax purposes. All corporations or LLCs need this number so that they can open bank accounts and file business tax returns.

File Doing Business As (DBA) forms, which detail any fictitious names the company will operate under in Cincinnati. A DBA must be filed for each and every fictitious name your company will use.

Once you have the EIN, you can open a business bank account. This necessary so that you can keep all personal and business transactions separate from each other. If you had an account as a sole proprietorship, you will need to close that account when you open the LLC business account.

If your company requires licenses or permits to operate, go ahead and apply for them now. A business license allows your company to operate legally in its jurisdiction.

Maintain all required documentation related to the LLC or corporation. These reports are related to the state and are usually filed annually.

Forming an LLC is an important step in the life of your Cincinnati business. Speaking with an experienced business formation attorney can help you understand the process and what comes next.

Source: Small Business Trends, “https://smallbiztrends.com/2017/09/things-to-do-after-incorporating.html,” Sep. 19, 2017