LLC Lookup Ohio

Ohio LLC's

An Ohio Limited Liability Company (LLC) is a flexible business structure that provides limited liability protection to its owners, known as members.1 This means that your personal assets are generally shielded from business debts and liabilities.2 LLCs offer a balance between the simplicity of a sole proprietorship and the legal protection of a corporation, making them a popular choice for small businesses in Ohio.3

Benefits of an Ohio LLC

• Limited Liability: Your personal assets are generally protected from business debts and liabilities.4

• Tax Flexibility: LLCs can choose to be taxed as a sole proprietorship, partnership, S corporation, or corporation.5

• Management Flexibility: LLCs offer flexibility in management structure, allowing for either member-managed or manager-managed operations.6

• Ease of Formation: The process of forming an Ohio LLC is relatively straightforward.

Steps to Form an Ohio LLC

1. Choose a Unique Business Name:

• Your LLC name must be distinguishable from other business names in Ohio.

• Include the words "Limited Liability Company" or the abbreviation "LLC" at the end of your name.

• You can check name availability through the Ohio Secretary of State's website.7

2. Appoint a Registered Agent:

• A registered agent is a person or entity responsible for receiving legal and tax documents on behalf of your LLC.8

• This can be an individual or a business entity with a physical address in Ohio.

3. File Articles of Organization:

• This is the official document that establishes your LLC.9

• You can file Form 610 online through the Ohio Secretary of State's website or by mail.10

• The filing fee is currently $125.

• Information required on the form includes:

  • Your LLC's name

  • Your registered agent's information

  • The purpose of your business (can be broad, like "to conduct lawful business")

  • The names and addresses of the LLC's members

4. Create an Operating Agreement (Optional but Recommended):

• An operating agreement is a legal document that outlines how your LLC will be managed and operated.11

• It's not mandatory, but it's highly recommended as it can help prevent future disputes among members and clarify ownership and management roles.

• You can draft your own operating agreement or use a template from online legal resources.12

5. Obtain an Employer Identification Number (EIN):

• If your LLC has employees or plans to hire employees, you'll need an EIN from the IRS.13

• You can apply for an EIN online through the IRS website.14

• You may also need an EIN to open a business bank account or file taxes.15

6. Register with the Ohio Department of Taxation:

• You'll need to register your LLC with the Ohio Department of Taxation to obtain a tax ID number and file state tax returns.16

• You can register online through the Ohio Business Gateway.17

7. Obtain Necessary Licenses and Permits:

• Depending on the nature of your business, you may need to obtain specific licenses18 and permits from state and local authorities.

• You can check the Ohio Business Gateway for a list of potential licenses and permits.19

8. Open a Business Bank Account:

• Open a separate bank account for your LLC to keep business and personal finances separate.20

• You'll typically need your LLC's EIN and Articles of Organization to open a business bank account.21

Additional Considerations

• Annual Report: Ohio LLCs are required to file an annual report with the Secretary of State. This report is due by May 1st each year.

• Foreign LLCs: If you're an LLC formed in another state and want to do business in Ohio, you'll need to register as a foreign LLC with the Ohio Secretary of State.22

• Professional LLCs: Certain professions, such as law and medicine, have specific requirements for forming an LLC.23 Consult with an attorney to ensure compliance with all applicable regulations.

Don't Wait

Forming an Ohio LLC can be a relatively simple process if you follow the steps outlined above. However, it's always recommended to consult with an attorney or business advisor to ensure that your LLC is formed correctly and complies with all applicable laws and regulations.