The Cost of Forming an LLC in Kentucky

If you’re considering launching a business in Kentucky, you might be curious about how much it will cost to form an LLC. The costs involved in establishing and upholding an LLC in Kentucky, including as filing fees, annual report fees, and other expenses, will determine the answer to this question.

In Kentucky, forming an LLC requires a $50 filing fee. The website of the Kentucky Secretary of State accepts online payments for this charge. In addition, Kentucky mandates that LLCs pay a $15 filing fee and submit a yearly report to the Secretary of State’s office. Late fees and penalties may apply if the annual report is not submitted on time.

It’s possible that there will be additional expenses when incorporating an LLC in Kentucky in addition to the filing and yearly report fees. For instance, you might need to work with a lawyer to design the operating agreement, which is one of the necessary documents for your LLC. In order to receive legal notices and other necessary paperwork on behalf of your LLC, you might also need to pay for a registered agent service.

A DBA (Doing Business As) may be used on an invoice, yes. Instead of using its legal name, a business may operate under a DBA. For instance, if your LLC is named “ABC Consulting, LLC” but you conduct business as “XYZ Consulting,” you may use “XYZ Consulting” on your invoices.

The owner of a single proprietorship is individually responsible for all of the company’s debts and obligations, which is one of its main drawbacks. This means that the owner’s personal assets, such as their home or car, could be confiscated to pay off debts if the company is sued or unable to pay them. Because they lack the same legal protections as a corporation or LLC, sole proprietors may also have a harder time raising money or getting loans.

A trade name that a company employs in place of its legal name is known as an assumed name. This is sometimes referred to as a DBA (Doing Business As) in several states. Businesses frequently utilize assumed names to establish a unique brand or identity for a certain commodity or service. For instance, if “Jones Enterprises, LLC” distributes a line of cosmetics under the name “Radiant Beauty,” they would have to register “Radiant Beauty” as an assumed name with the state in which they conduct business.

An assumed name is denoted by the five-letter term “alias.” A person or entity may use an alias in place of their actual name. An assumed name, also known as a DBA, is frequently used interchangeably with an alias in the business world.