website to register a business name in ohio

Starting an LLC in Ohio: A Guide to Registering Your Business Name

Are you looking to start a new business venture in the state of Ohio? One important step is registering your business name as a limited liability company (LLC). This legal structure provides personal asset protection and flexibility when it comes to taxes. In this article, we'll break down the process of registering an LLC in Ohio and what you need to know.

First things first: you'll need to choose a unique business name that isn't already taken by another entity. You can search for available names through the Ohio Secretary of State's website or the Federal Trade Commission (FTC) database. Once you've chosen your desired name, make sure it complies with Ohio's naming requirements, such as including 'LLC' or 'Limited Liability Company' in the business name.

Next, you'll need to file your articles of organization with the Ohio Secretary of State's office. This document outlines the basic information about your LLC, including the business name, address, and purpose. You can download the form from the state's website or use a reputable online service that specializes in filing LLC paperwork.

In addition to filing your articles of organization, you'll also need to pay a $99 fee to reserve your LLC name. This guarantees that no one else will take your business name for a given amount of time. You'll also need to shell out a $39 processing fee when reserving your LLC name.

While it may seem like there's some upfront investment required to start an LLC in Ohio, most of the investment you'll need is actually time and effort. Unlike corporations, LLCs don't require annual fees or reports to continue doing business as an LLC, which can save you time and money in the long run.

One potential drawback to starting an LLC in Ohio is that you won't be able to issue stock to raise capital for your business. This means you'll need to rely on alternative funding methods, such as loans or crowdfunding. Additionally, self-employment taxes may be higher for LLC owners compared to other types of businesses.

However, LLCs also offer some significant benefits when it comes to taxes and regulations. For example, you have more control over how your business is taxed, either as a corporation or pass-through entity. You'll also avoid getting taxed twice as a C-corporation, which can save you money in the long run.

Another advantage of forming an LLC in Ohio is that it provides your business with protection from lawsuits and other claims. This can give you peace of mind knowing that your personal assets are safe from potential creditors.

In conclusion, starting an LLC in Ohio may seem like a daunting task, but with the right guidance and support, it can be a straightforward process. By following these steps and understanding what's required to register your business name, you'll be well on your way to protecting your personal assets and growing your business.

Website to register a business name in ohio