How to Form an LLC in Missouri
You have the idea, you’ve got the money, and you’re ready to form an LLC. But where do you start? Fortunately for you, it’s not as hard as it sounds. Once you get in touch with an attorney who specializes in Missouri LLCs, they can walk you through every step of the process:
Naming your Missouri LLC
- You must name your LLC something that is unique.
- The name can be a word, phrase or abbreviation.
- Your LLC’s name cannot be the same as another Missouri LLC.
- Your LLC’s name cannot be misleading or offensive to others, nor may it contain certain foreign words or phrases (such as those found in other languages).
Filing paperwork with the Missouri Secretary of State
The first step in forming an LLC is to file a certificate of formation with the Missouri Secretary of State. The application for this certificate can be found on their website, and it is available in both English and Spanish.
You must pay a filing fee of $125 when you submit the application. You may submit your paperwork online or by mail; if you choose to mail your application, allow at least five days for processing before proceeding with other steps (such as obtaining professional advice).
Completing department of revenue tax forms
- You will need to complete a Missouri income tax return, Form 540.
- You will need to file an annual report with the Missouri Secretary of State, which is available online at https://www.sos.mo.gov/businessentityfiling/index.php?page=annualreport.
- You will need to pay an annual franchise tax (if you choose this option). The current rate is $25 per year plus $1 per registered agent and $0.001 per dollar of capital in excess of $60,000; however, if your business is located in one of the ten most populous counties in Missouri you’ll be required for pay an additional fee that ranges from $500-$750 dollars annually depending on how much money your company generates during its fiscal year (the fiscal year runs from July 1st through June 30th). If your business isn’t located within one of these ten counties but does generate at least $50K worth of revenue each year then you’ll still need to pay both fees discussed above ($22 +$3+$1 = about $30 total). There are also several other optional fees that may apply depending on whether or not certain activities are performed by people who work under contract with the company itself instead of being full-time employees; check out Section 200(2)&(3) for details!
If you decide against registering as an LLC then just remember that even though there aren’t any taxes associated with owning real estate property here in Missouri it can still be very expensive when someone wants us
Publishing a notice of intent to form in your local newspaper
To get your notice of intent published in the newspaper, you must submit an application to the Missouri Secretary of State’s office. The information you need to include in your application includes:
- The name of your LLC
- Your address and phone number
- The name, address, and phone number of each member (if applicable)
- A brief description of the business activities that will be conducted by the LLC.
Obtaining an EIN
An Employer Identification Number (EIN), or Taxpayer Identification Number, is a unique nine-digit number assigned by the IRS to businesses. It’s used in both your business structure and tax filing process, so it’s essential that you obtain an EIN before starting up an LLC.
You’ll need an EIN so you can open a business bank account and file taxes as a corporation; without one, your business will have difficulty acquiring funding or opening lines of credit. Don’t worry if you’re just starting out—the application process is easy! Here’s what it involves:
- Determine whether or not you require an EIN. If your business has employees (even part-time), collects sales tax from customers on behalf of the state government where it operates, processes credit card payments through third parties like PayPal or Square for more than $20 per month, owns real estate worth over $50k ($25k if located within 250 miles of Missouri’s capital city), earned income from securities sales (stocks/bonds) exceeding $200k during its first year in operation…then YES! An LLC should use an EIN instead of doing business under their personal Social Security Number because this way they can avoid paying personal income taxes at state levels while still receiving deductions for all company expenses incurred during their time running things behind closed doors; however if neither applies then no worries because there are other ways…
Completing or electing out of a biennial report
- You must complete or elect out of a biennial report if you have not filed one in the past two years.
- You can elect not to file a biennial report if you do not have a registered agent.
Complete all other remaining applications, permits and licenses
Once you have filed your Articles of Organization with the Secretary of State, you will need to apply for any other required licenses and permits needed for your business.
These may include:
- Local business licenses from the municipality where you operate or plan to operate your business. Check with them as soon as possible, even before filing your Articles of Organization with the Secretary of State. The requirements for obtaining a license vary by municipality and can change at any time without notice.
- State tax registrations (for example, sales tax registration). If you are planning on selling products or services online or in person, it’s important that you know whether or not this will require state tax registrations—and if so which ones are necessary—before making purchases that could become difficult to return later due to incorrect paperwork! Otherwise this could lead up being costly over time through fines/penalties levied by multiple agencies even though they’re all technically separate entities anyway…
Consider registering to do business in additional states.
While you can register to do business in additional states, it’s important to know that this is a separate step from forming your LLC. This process involves filing an application with the appropriate state agency and paying any fees associated with that application. If you plan on selling goods or services in other states, this could be a good option for you.
Don’t let the process intimidate you.
Don’t let the process intimidate you. The state of Missouri has a lot of information on their website, and it’s all very straightforward. They have a step-by-step guide that’s easy to follow, and if you get stuck at any point during your registration or formation process, their staff is friendly and helpful.
I’ve never had any trouble reaching them by phone or email for advice; they’re always quick to respond and offer assistance wherever possible.
All in all, the process of forming an LLC in Missouri is pretty straightforward. You can do it yourself with a little bit of patience and research. If you have questions, reach out to your local Small Business Administration office or other professionals in your area who may be able to help answer them.