How Lengthy Does it Take to Establish a Limited Liability Company?

A limited liability company (LLC) is a legal structure whereby the members of the company are not personally liable for the company’s debts or liabilities. This type of business ownership is attractive to many as it offers protection from personal liability while allowing them to benefit from the limited liability of a corporation.

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Timeframes of LLC Formation

Before you can launch your LLC, there are a few steps you will need to take. The timeframes for each of these steps vary depending on the state in which you are establishing your LLC, and may even differ based on the complexity of your business. Generally, you should expect the following timeframe for the formation of your LLC:

Choose an LLC name: 1-2 days
File the Articles of Organization with the state: Varies from 1-14 days
Create an Operating Agreement: Varies from 1 day-7 days
Apply for an Employer Identification Number (EIN): Immediately

Conclusion

In conclusion, the formation of an LLC can take anywhere from a few days to several weeks depending on the state in which you are establishing your LLC. However, once all the steps are completed, you will have the full protection of the law and the benefits of limited liability for your business.

Sources: SBA.gov, Incfile.com

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