Depending on what your business does and where it is located, there will likely be various business licenses and permits needed before starting. After you form a Louisiana LLC, you may need to obtain a business license or permit.
Benefits of Forming an LLC
The Limited Liability Company is a popular type of entity for businesses starting in the state of Louisiana. The LLC provides personal asset protection and has the potential to save money on taxes. Unlike a sole proprietorship or partnership, where the small business owner can be held personally liable for lawsuits against the business, the LLC is a separate legal entity that protects the business owner’s personal assets.
Steps to Forming Your Louisiana LLC
Here are the steps you need to take to form an LLC in Louisiana:
- Choose a Name for Your LLC.
- Get a federal employer identification number (EIN).
- Choose a registered agent in Louisiana.
- File your Louisiana Articles of Organization.
- Obtain business licenses and permits.
- Understand Louisiana state tax requirements.
- Prepare a Louisiana LLC operating agreement.
- Examine business insurance options in Louisiana.
- Understand financial considerations.
- Market your Louisiana LLC.
LLC Costs and Requirements
- Articles of Organization costs around $100.
- The initial filing fee is $100, and the annual fee is $30.
- Check with your municipality for annual renewal fees.
- Most LLC service providers offer different plans with free LLC formation and free registered agent services.
- Stay up-to-date with taxes and fees or face penalties.
- Expect to provide a Certificate of Good Standing and EIN to open a bank account for your LLC.
- Your chosen LLC name must be distinguishable from other registered business entity names.
Additional Licensing and Tax Information
You’ll need a Louisiana business license to operate. Some additional licenses are issued locally, with varying requirements based on city/county. Expect to provide business documents to open an LLC bank account, like Articles of Organization, Certificate of Good Standing, and your EIN.
Frequently Asked Questions
How much is an LLC license in Louisiana?
- The filing fee for LLC Articles of Organization in Louisiana is $100.
- The annual report fee is $30.
Does an LLC in Louisiana have to file a tax return?
Most LLCs will need to file a tax return, and specific requirements can vary based on the company’s structure and operations. It’s important to understand state tax requirements as part of running your LLC.