One of the initial actions you must do if you want to start a business in Georgia is to register it with the government. Choosing a business structure, such as a sole proprietorship, partnership, corporation, or limited liability company (LLC), is an important step in this process. Due to their adaptability and liability protection, LLCs are one of these choices that is gaining popularity. However, one of the frequent queries from business owners is the price of forming an LLC in Georgia.
A number of expenses, such as the state filing fee, legal fees, and other costs like business licenses and permits, affect the price of forming an LLC in Georgia. The state filing fee for a Georgia LLC is $100 as of 2021. When you submit your articles of organization, you must pay this amount to the Georgia Secretary of State. Articles of Organization can be submitted in person, via mail, or online. However, there is an extra $25 expedited processing cost if you prefer to file by mail or in person.
If you decide to engage a lawyer to assist you with the LLC registration procedure, in addition to the state filing cost, you might also have to pay for their services. Although it is not necessary, it can be useful if you have queries or worries regarding the legal specifications for creating an LLC. Depending on the intricacy of your business and the extent of the legal services you require, legal fees might range from a few hundred to several thousand dollars.
What distinguishes an LLC from a DBA?
The registration known as a DBA (Doing Business As) enables you to carry on business under a name different than your given or legal name. Like an LLC, it is not a distinct legal entity. An LLC, on the other hand, is a type of business structure that delineates between your personal and business assets and responsibilities. It offers its owners limited liability protection, shielding their personal assets from corporate debts and legal actions.
Although it is not legally required to trademark a company name, doing so has a number of advantages. By registering your company name as a trademark, you may stop others from exploiting it and undermining your brand identification. Additionally, if someone uses your trademark illegally, it might be simpler for you to defend yourself in court. A registered trademark can also increase the worth of your company and make it more appealing to investors or buyers.
The members, or proprietors, of an LLC are not subject to public disclosure in Georgia. However, the name and address of the registered agent are public information, and they might be served legal documents on behalf of the LLC. A person or a company that is permitted to receive legal notices and other official papers might be the registered agent.
Use the IRS Business Name Search tool on their website to see if a company is registered with the IRS. With the help of this tool, you can look for companies that have an Employer Identification Number (EIN), a special number that the IRS gives to each company organization. You can use this tool to check a company’s EIN and other information like its filing status and address if you know the company’s name and the state in which it was established.
In conclusion, compared to other states, Georgia has relatively low LLC formation fees. However, it’s crucial to take into account additional costs that can apply to your particular scenario, such as legal fees and business permits. Additionally, knowing the distinctions between an LLC and a DBA, trademarking your company name, and having access to information about LLC ownership and IRS registration in the public domain can all help you make smart business decisions.
The precise laws of the state in which you are founding an LLC will determine this. In Georgia, as long as it is not misleading or deceptive, you are generally permitted to use the phrase “United States” or “USA” in the name of your LLC. To make sure your intended LLC name complies with state laws, it is always advised to verify with the Georgia Secretary of State’s office.