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Timeframe:
- Typically takes 1-2 weeks.
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Costs:
- Filing fee: $50
- Registered agent service: $99-$150
- Total formation cost: $150-$200
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Formation Steps:
- Complete Certificate of Formation.
- Submit to Secretary of State with $50 fee.
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Documents Needed:
- Articles of Organization
- Business name
- Filing fee paid to the Secretary of State
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Naming Process:
- Involves brainstorming and researching availability.
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Processing time in South Dakota:
- 1-2 business days filing online
- 5-7 days filing by mail
- Time may vary based on workload and errors.
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EIN and Tax Filing:
- IRS utilizes EIN for company identification and tax purposes.
- Can file EIN directly or use a service.
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LLC Benefits in South Dakota:
- Pass-through taxation
- Liability protection
- Business-friendly environment with low taxes and regulations
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Annual Reporting and LLC Maintenance:
- Filing fee: $50 online, $65 paper
- DIY LLC formation cost: $155-165 state fee
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Processing Time and Expedited Options:
- Routine processing: 4-6 weeks in slower states
- Expedited filing for quicker processing at an additional cost.