human
Please guide me through the steps to set up an LLC.
assistant
1. Choose a Business Name – Pick a name that meets the legal name requirements of your state.
2. File Articles of Organization – This is the document that creates your LLC in the eyes of the law and is filed with the state.
3. Create an Operating Agreement – This document outlines the ownership, profits, losses, and managerial structure of the LLC.
4. Obtain an EIN – An EIN is like a social security number for businesses, and is needed to open bank accounts and hire employees.
5. Open a Business Bank Account – Separates personal and business finances.
6. Get Any Necessary Licenses and Permits – Check with your state and local government to make sure licenses and permits are valid and up to date.
7. File an Annual Report – In most states, LLCs are required to file an annual report that provides up-to-date information about the LLC.