How To Properly Fill Out Connecticut Articles Of Organization
Starting and operating a business in Connecticut can be a dream come true for many people. They may have had an idea for several months or even years. This could be for a brick and mortar business that they are setting up downtown in a major city, or it could be a simple store in a small community. It is vitally important that you do all of your paperwork properly to avoid any penalties or problems that may arise. Skilled business owners are typically adept at doing this, yet they may run into problems when setting up an LLC. This involves several different types of paperwork, one of which is called the articles of organization. There are multiple reasons why using this form can be somewhat challenging. Let’s go over what this form is and why it is so important to have one when creating your limited liability company.
Why LLCs Are So Vital To Businesses Today
Limited liability companies play an important role in the longevity and for the protection of local businesses. A company that has created a store, or even a nightclub, will need to have as much protection as possible. Whether you are selling real estate as an investor, or if you are marketing products on the web, it is so important to legally protect your business. If you don’t have an LLC set up, you have the unfortunate obligation of paying out to other’s personal assets if you lose a legal fight in court. To protect your assets, a limited liability company can act as a shield, primarily because it is literally a legal entity that you set up to get this protection.
How LLCs Work
Legal liability companies are set up every day in Connecticut. They provide a much-needed resource for business owners. As mentioned earlier, you are forming a separate entity, one that will act in lieu of your ownership of the business that you are operating. You should think of it as a type of protection, a way of avoiding direct lawsuits that may be coming your way. Once you have set it up, it’s going to make it very easy to operate your business without the fear of legal repercussions in the future that can directly affect your assets.
The Process Of Setting Up An LLC
Setting up a legal liability company is extremely easy to do. However, it should be noted that professional help is always recommended. As with any type of documentation that is related to business, those that are not adept at filling out paperwork should avoid mistakes by getting professional assistance. The documentation that you will need will include an operating agreement, articles of organization, and a few other documents that may be necessary. It is necessary to also have a registered agent which is a business entity that can act on your behalf to receive paperwork that is going to come to you. However, prior to all of this, it is essential that you choose the proper name for the LLC that you will be setting up. It should have no connection to any other limited liability company by name so as to avoid confusion later on.
Filing Your Articles Of Organization
This can be a very problematic event. It can be so for several different reasons. First of all, there are many different types of businesses that you can set up, all of which will be underneath your limited liability company. Next, there are different parts of the articles of organization. You can get all of this from the Connecticut Secretary of State website. These articles will include the address and name of the LLC organizer, the actual address of the LLC itself, as well as his personal information regarding the registered agent, members, manager, and also the organizer of this documentation. The signature of the organizer is also mandatory, and all of this can be filed either online or by mail. The total cost will be $120, and once it is formed, you will have all of the protection that you will need when legal situations arise.
Other Documents That May Be Confusing
The other documents that you will have to fill out will include the application for reservation of name. Although this can be optional, it’s important to pay the $60 in Connecticut to reserve the name that you want for 120 days. Of course, this assumes that the name that you want is available and does not have any direct or somewhat remote connection to another business. Finally, the operating agreement should also be filled out to document the type of business that you have and the type of operations that will occur as a result of this business being managed.
In addition to all of this, you will also need an EIN number, especially if you will have employees. There are taxes that you will have to pay which will include the BET tax of $250. Filing annual reports is also necessary. All of this should be done on schedule, yet you may not have the time to do so on your own. That’s why working with one of these companies is so important to manage your LLC if possible. Using this information, it should be easy to fill out your articles of organization.