An LLC is a Limited Liability Company, meaning it’s not a separate tax entity come tax time. The LLC reports all profits and losses on the ‘owner’s’ personal income tax return but it affords the ‘owner’ the same limited liability as a large corporation or business when it comes to the owner being protected from personal liability for business debt or lawsuits. If the LLC owes money, the only assets creditors can reach are the assets of the business itself. I would advise waiting at least 60 days or until your bringing in a steady income before you to take the following steps to get your business registered as an LLC.

First you will want to visit the SBA.Gov website and select your state.

When the time comes to register your business, as an LLC the first step is to choose the name of your company. You will want to make sure ahead of time your business name is not already listed having an LLC designator with the LLC by doing a search in your individual state.

The LLC name has to end with an LLC designator, things like “Limited Liability”, “Limited Company”, “Limited Liability Company” or abbreviations. The accepted abbreviations are generally, “LLC”, “L.L.C.”, “Ltd. Liability”, etc.

Also certain states prohibit certain words like Bank, Corporation, Insurance or City. You will have to check with the U.S. Small Business Administration to find out what the specifics are for your individual state. It is imperative also to make sure your name doesn’t violate another company’s trademark!

Every business must get and possess a business license. Depending on the type of services a business is providing determines what type of business license you will need. A business license for your Psychic business will in all probability simply be an all-around general business license. All businesses must write and file an Articles Of Organization; this describes the ultimate identifying and operation features of your LLC. Once this is filed and approved by the states the articles of organization legally create the LLC as a registered business body within the state.

What you will want to include in this articles of organization is your LLC’s name and address (the principle place of business); the nature of the business typically stated in broad language; names or names of the managers and members of the LLC. Once these are ready and signed they’re ready to be filed at your Secretary of State’s office. Fees range from $0 to $800 as a one-time payment or yearly depending on the state the business is located within.

There are some states where you will register your LLC business name with the Secretary of State or other state agency, but in most states, you’ll register at the county level. The outcome is that each county in your state might have different forms and fees for registering the name. The top thing to do is to call your county clerk’s office to find out its individual procedures, requirements, and fees.

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