How to Form an LLC in Kentucky

Introduction

Congratulations! You’ve decided to form an LLC in Kentucky. Now the real work begins. If you’re like most people, your new company will be a one-person operation or a small partnership between two people. You may have heard that it’s easier to form an LLC in some states than others, but that’s not necessarily true—it all depends on how much time and effort you want to put into getting your business up and running. In this article, we’ll review the process of forming an LLC in Kentucky so you can decide whether it’s right for your business needs.

Choose a business name.

Step 2: Choose a business name.

You must choose a name for your LLC that is not too similar to other businesses. You may not use words like “incorporated”, “corporation”, “company” or “limited” in your company’s name without permission from the Secretary of State. Your business name must also be easy to remember, so it may be helpful to include some information about what you do in it. For example, if you run an accounting firm and provide services related to estate planning, consider naming your entity “Smith & Associates – Estate Planning and Accounting Services.” Finally, make sure that the word “limited” appears somewhere in the name of your business (for example: Smith & Associates Limited).

File your Articles of Organization.

When you’re ready to file your Articles of Organization, it’s best to do so online. The online filing fee is $45, while the paper filing fee is $50. You’ll also need to provide an EIN from the IRS (or if you don’t have one yet, get one by calling 855-699-3676).

Once you’ve paid for your articles and verified your name availability with Kentucky Secretary of State’s office, head back over to their website to upload and submit them. Once they’ve been processed, your LLC should be officially formed!

Have your new LLC sign a Resolution to Open a Bank Account.

It is recommended that you sign a Resolution to Open a Bank Account, which will act as a formal letter of introduction. This document can help the bank understand that you are serious about your business and that you want to protect your personal assets from potential liability issues.

Obtain an EIN.

The IRS assigns an Employer Identification Number, or EIN, to every business in the United States. An EIN looks like this: 12-3456789

You’ll need your company’s EIN if you want to:

• Open a bank account.
• Apply for a loan from a bank or other lender.
• File taxes with the federal government (which includes paying estimated taxes).

Draft an Operating Agreement.

The operating agreement is a document that’s specific to your LLC. You need it to help you run the business and make decisions, but it also helps clarify who owns what in your company.

An operating agreement explains things like:

• Who owns what percentage of the company?
• How much money each person has invested in it (if any)
• Whether or not employees get paid and how much they’re paid (and if so, how often)

Your LLC is now ready to operate in the state of Kentucky!

Congratulations! Your LLC is now ready to operate in the state of Kentucky. When you choose an LLC for your business, you can use it to do business in any state, country or province.

You may also want to consider forming an LLC if you want to make sure that your personal assets are protected from liability claims or lawsuits related to your business. Clients who have been injured by products manufactured by a company may sue the owner personally if they can find them, but they won’t be able to touch any of their personal assets (like homes).

Conclusion

We hope that this article has helped you understand how to form an LLC in Kentucky. The process is not difficult, and can be done quickly if you have the right resources at hand. We recommend using a service like LegalZoom or Nolo to help ensure that your LLC is formed correctly and with all the necessary legal documents required by the state.