In Missouri, a limited liability company needs an operating agreement. This outlines ownership, management, members’ rights and responsibilities. The agreement is legally binding. LLCs don’t file it with Missouri. The state requires it though. It helps resolve disputes between members. Also it protects members’ assets.
Customizing Operating Agreements for LLCs
LLCs should customize their Missouri operating agreement to structure and operations. Following state laws in the document is essential too.
Registering Foreign LLCs in Missouri
To register, foreign LLCs file the "Application for Registration of a Foreign Limited Liability Company". The online filing fee is $50 or $105 by mail.
The purpose of an LLC operating agreement is to define rules and guidelines for a business. As the business owner, your liability might increase without the structure in an operating agreement. Even if your state doesn’t require one, having an agreement protects your interests.
An operating agreement details the operations of the LLC. This includes powers of each member and voting rights. It’s about 15 to 20 pages normally. Moreover, it is for internal reference and doesn’t need public disclosure. In Missouri, there are default LLC rules. But members can override provisions with a written operating agreement.
Federal Tax Requirements and Final Steps
To pay federal taxes, you may need an EIN from the IRS. This number identifies your LLC. Banks may also require it to open an account. You can get your EIN through the IRS website, mail, or fax.
The filing time for Missouri LLCs is immediate after payment. The filing fee is $50. While there’s no state income tax, there are other taxes your LLC may encounter. Speaking with a tax professional is recommended. The cheapest way to file an LLC in Missouri is to do it yourself.