What is Required to set up an LLC?

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How do you form an LLC?

In order to register a business as an LLC, Articles of Organization must be filed with the Office of the Secretary of State and the necessary filing fees paid. After organization, by default the IRS will tax an LLC as a disregarded entity, however an LLC can elect to be taxed as an S corporation by filing Form 2553 or elect to be taxed as a C corporation by filing form 8832. 

What is a publication requirement?

There are a handful of states that require a notice to be published in a public newspaper that you hav e formed an LLC. States with this requirement include: 

  • Arizona
  • Nebraska
  • *New York

*A New York, limited liability company is required to publish notice of their formation in two seperate New York newspapers and to file proof of publication with the Department of State within 120 days. The publication is made at the county level in two newspapers. If you fail to publish the required information by the deadline the state reserves the right to prohibit you from conducting business.