How To Form an LLC In Arkansas
There has never been a better time to get a degree. Even top Universities across the U.S. have joined the movement that’s allowing millions to get an education online. Business degrees are the perfect stepping stone for building a career, increasing earning potential, and ultimately growing your business.
Find out how to improve your knowledge and increase your earning potential by getting an online business degree. Click here to find the program that’s right for you.
1. Choose a Name for Your Arkansas Limited Liability Company
Check for an Available Name for the LLC in Arkansas: You need to select a name for your company before you file to form a Limited Liability Company in Arkansas. You should search online databases and other records before you file to make sure that a name that you want to use is available and not in use by another LLC in Arkansas. You might want to start by searching the business entity database on the official website of the Arkansas Secretary of State: Arkansas LLC.
Reserve a Name for Your Arkansas LLC: You do not need to reserve a name for your LLC before you file to form an LLC, but if you would like to reserve a name you can submit a name reservation application. You can download the application form or apply online at Arkansas LLC. The name that you submit on the application will be reserved for a period of 120 days. There is a $22.50 fee to reserve a name if you apply online and a $25.00 fee if you apply with a printed application.
Filing for Trademarks Protection and Doing an LLC Name Search: Your search of databases and other records might reveal that the name that you want to use to form your LLC is available in Arkansas, but it is possible that another company could be using the same name somewhere else in the country. There could be restrictions on the name that you want to use for your LLC. You can find more information on choosing a name for your LLC online at how to choose a name for your llc.
Arkansas LLC Name Requirements: In the state of Arkansas, you must include the designation "LLC," “L.L.C.,” or "Limited Liability Company" in the name of your LLC. Remember that the term “LLC” stands for “Limited Liability Company,” and not “LLC Corporation, “Limited Liability Corporation,” or anything else similar. An LLC is not the same kind of business entity as a corporation.
2. Find a Registered Agent in Arkansas
You need to select a registered agent in Arkansas that will act as an agent for service of process for your LLC. A registered agent receives all tax documents, legal notices, and other official notices for your LLC. There are some service companies that offer registered agent services to LLCs for a fee that generally ranges between about $75 and $150.
3. File Articles of Organization with the Arkansas Secretary of State
Minimum Requirements for the Articles of Organization: The Articles of Organization that you file for your LLC will need to contain the name of your LLC, the address of your place of business, your registered agent, and the name of the organizers. You should also indicate whether the LLC will be managed by a manager or by the members. Your Articles of Organization must be signed by the organizers before you submit the document. You can download the form or file online at Arkansas LLC.
Other Arkansas Legal Provisions: You might consider including additional clauses when you create the Articles of Organization for your LLC. It is best to consult a lawyer when you are creating the Articles of Organization for assistance in including the additional clauses that are most important for your company.
Where to Submit the Articles of Organization for Filing: You should send your Articles of Organization to Arkansas Secretary of State Business and Commercial Services at Suite 250, Victory Building, 1401 West Capitol Avenue, Little Rock, AR 72201 or file online at Arkansas LLC.
Filing Fee: The fee to file Articles of Organization in Arkansas is $45.00 if you file online and $50.00 if you submit a printed application.
4. Form an Arkansas Limited Liability Company Agreement (Operating Agreement)
After you form your Limited Liability Company in Arkansas by filing the Articles of Organization, you need to create an LLC Agreement that governs how your LLC will be operated. All the members of your LLC need to sign the agreement. LLCs are generally operated more simply than corporations. An LLC Agreement governs all aspects between the members of an LLC. The specific details of your company’s LLC Agreement will depend on many factors, such as the number of people involved, how much money is being invested, how the money will be distributed, and whether the company will be managed by a manager or by the members. Details of an LLC Agreement often vary depending on what the purpose of the LLC is. For example, the LLC Agreement will probably be different if the LLC will be used to operate a retail store than if the LLC will be used to own and develop real estate. You should consult a lawyer and an accountant when it is time to draft your LLC Agreement so that you can be sure to comply with all state requirements and federal tax laws.
You will also need to create or file other documents for your LLC, such as securities filings. You also need to obtain an EIN from the IRS. You might also need to obtain a business license. There are companies that can make filings for you and provide you with form documents in return for a fixed fee. You can learn about how to get a business license in your city through our online guide at http://www.cityapplications.com/business-licenses.html.
5. Qualify your Arkansas LLC to Do Business in Other States
You need to check to see if you need to register or qualify the LLC to do business in your home state if your main office is located out of state. Most states require you qualify your LLC and pay taxes in your home state. You can learn about how you can qualify your LLC to do business in other states online at [Qualifying to Do Business in Other States].
6. Make Annual Filings and Pay Annual Taxes in Arkansas
The state of Arkansas requires a franchise tax and annual report from registered LLCs. You can file this report by mail or online at Arkansas LLC. The tax for LLCs is $150.00. You can learn about other taxes that may apply to your company and download tax forms online at the official website of the Arkansas Department of Finance and Administration at Arkansas LLC.
It can be complicated to form an LLC, especially when more than one person is involved. It is strongly recommended that you consult an accountant and an attorney before you form your LLC so that you can be sure that an LLC is right for you and that all your paperwork is processed correctly.
Search by State
To find more information about a business license in your state choose the state below.
This site is for informational purposes only and does not constitute legal, financial or tax advise. The information on this site should not be relied upon as an official source of information and should be independently verified.
