Here’s the step-by-step guide to forming an LLC in Mississippi:
1. Choose a Proper Name for Your LLC
The first step when setting up your LLC is picking a name that meets the requirements set by the State of Mississippi. Your chosen name must include “Limited Liability Company” or one of its abbreviations such as “L.L.C.,” “LLC,” or “Limited Co.” You also want to make sure that your chosen name isn’t too similar to any other existing business name within the state. To check if your desired business name is available, use the Business Entity Search tool found on the Secretary of State website.
2. Appoint a Registered Agent
The Secretary of State requires all businesses in Mississippi to appoint a registered agent who will accept service of process on behalf of your LLC and handle official documents such as legal notices, tax forms, and government correspondence. This person or entity can either be a resident living in Mississippi or another business registered with the state that has agreed to act as your registered agent.
3. File Articles of Organization
Once you have acquired all the necessary information and documents needed for setting up an LLC, you are ready to file your Articles of Organization with the Office of the Secretary of State using Form 801A found on their website. Here you will provide basic information about your company such as its name, address, and registered agent details along with any additional information requested by the state.
4. Create an Operating Agreement
An operating agreement is not required by law in Mississippi but it’s strongly recommended that you create one for your LLC as it sets forth how it will be managed and outlines procedures related to ownership interests and decision-making among other things. Operating agreements are crucial for avoiding disputes between members down the line so make sure you take this step seriously when setting up your LLC in Mississippi.
5. Obtain Licenses & Permits
Depending on what type of business activities you plan on engaging in within Mississippi, there may be certain licenses or permits required before you can legally start doing business within the state. Make sure you do thorough research into which specific licenses or permits might be needed by visiting SBA’s license & permit database.
6 . Pay Taxes & Fees
All businesses operating within MS must pay applicable taxes including federal income tax; self-employment tax; payroll tax; unemployment tax; sales & use tax; property tax; corporate income tax; franchise taxes; and fuel taxes among others depending on what type of business activities they engage in so make sure you know exactly what types are applicable for yours before launching operations..