The Fees Associated With Setting Up An LLC In Louisiana

Let's take a closer look at what it costs to form an LLC in Louisiana.

Here's how to form a limited liability company in Louisiana.

After you’ve filed your L.L.C. paperwork with the state, you may anxiously await that elusive piece of paper - the L.L.C. certificate. As soon as it arrives in the mail, you’ll know you’re officially an entrepreneur! This document is essential to starting and running a legitimate business.

The L.L.C. certificate is your business’s legal ticket to enter the entrepreneurial world. You can use it to do all of the following things:

An operating agreement in place outlines the way you will conduct dealings and how decisions will be made. This document should include vital information such as names, addresses, percentages of interests in the company, voting procedures - even how long it will be active! Without an agreement to guide decisions, they may not always align with what’s best for everyone involved.

Additionally, it should include details on how profits and losses are distributed among members, procedures for changing ownership percentages, voting rights, indemnification of members from certain lawsuits, dispute resolution processes, and more.

Having your operating agreement drafted professionally by someone familiar with L.L.C. regulations ensures that all necessary information is included in your document. A professional can also ensure that it meets all state requirements while considering other factors specific to your circumstances, such as multiple owners or employees working together. This step is crucial if you expand your business outside Louisiana because different states have varying laws regarding what constitutes a valid operating agreement. Having your documents drafted by a professional lawyer means you can rest assured knowing everything has been taken care of properly!

Louisiana requires that every L.L.C. have a registered agent who is either a resident of the state or an authorized representative with a physical street address within the state. The agent must also be available during regular working hours to accept service of process if needed. It is important to note that you may choose to act as your registered agent, but you will need to meet all these qualifications first.

A registered agent’s primary duty is to receive official government correspondence and legal documents on behalf of the L.L.C., such as annual reports (costing $30), tax forms, notices from the Secretary of State, lawsuits, subpoenas, etc., 

Then, the agent will forward these documents promptly to the appropriate person within the company. A registered agent should also notify clients when they receive official correspondence and other important information from the state or federal government.

If you need to change your existing registered agent for any reason – such as moving out-of-state – you have to file a new form with the Secretary of State’s office specifying who your new registered agent will be. 

This can be done online or by mail using Form 149 – Appointment/Change of Resident Agent for Limited Liability Companies (L.L.C.). You will need to fill out basic information about yourself and your company and provide payment for filing fees before submitting it.

An Employer Identification Number (E.I.N.) is a nine-digit code the I.R.S. assigns as your L.L.C.'s unique identifier for taxes and other financial purposes. It must be included on all tax returns and other documents associated with operating a business. An E.I.N. is also a Federal Tax Identification Number (FTIN).

Having an E.I.N. comes with many benefits for businesses in Louisiana and beyond. For one thing, it makes filing state and federal taxes much more accessible. An E.I.N. also allows companies to open bank accounts in their name instead of using their personal Social Security number or another individual's identification number. It makes hiring employees simpler as employers will need this unique identifier when reporting wages paid to employees on tax forms like Form 941 and Form W-2s. Lastly, using a separate entity identification number rather than your personal Social Security Number helps protect against identity theft.

Obtaining an E.I.N. in Louisiana is relatively straightforward. You can get one either through mail or online. For the former, you would need to fill out Form SS-4 and mail it to the I.R.S. along with payment of any applicable fees. Online applications usually only require basic information about your company, such as its name, address, type of organization, etc. Once you have obtained an E.I.N., it should be used consistently throughout all federal tax transactions.

When an LLC fails to pay its annual report or franchise tax fee by the due date, the Louisiana Secretary of State may revoke its Articles of Organization. Revoking these articles means that the LLC is no longer legally recognized in the state and cannot operate as an LLC. In some cases, this could also open owners to personal liability for debts and obligations incurred during this period.

To reinstate an LLC’s articles of organization, you must complete the Certificate of Reinstatement form and submit it along with any required fees. The amount may vary depending on LLC'selinquent you are; if you are more than three years late on a payment, additional costs will be charged.

As long as all fees are paid in full, the reinstatement process is usually quick- within five business days after payment is received by the Secretary of State.

Once reinstated, your LLC will be recognized by Louisiana law and able to conduct business by state regulations. It is important to note that reinstatement does not revive any legal rights or privileges that were suspended between when your articles were revoked and reinstated. Additionally, reinstating does not remove any liens or judgments imposed during this period- those must be addressed separately from article reinstatement.