How To Start An Llc In Arkansas – To form an Arkansas LLC, you must file a certificate of organization with the Arkansas Secretary of State. You can apply online, by mail or in person for $50. A certificate of organization is the legal document that officially creates your limited liability company in Arkansas.
A guide to getting started today. Our What is an LLC guide will help you learn more about LLCs and their benefits. To learn how to form an LLC in Spanish, read our Como Criar Una LLC en Arkansas guide.
How To Start An Llc In Arkansas
For more information on how to form an LLC in any state, see our How to Set Up an LLC guide.
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Choosing a company name is the first and most important step in forming an LLC in Arkansas. Make sure you choose a name that meets the Arkansas LLC naming requirements and is easily searchable by potential clients.
2. Arkansas LLC Name Availability: Make sure the name you want is not already taken by doing an Arkansas LLC search on the Secretary of State’s website.
3. Is the URL available? We recommend checking online to see if your business name is available as a web domain. Even if you don’t plan to build a business website today, you may want to buy a URL to prevent others from taking over.
Now that you’ve verified your name and secured a URL, you can choose a professional service to complete the LLC formation process for you. We recommend using one of these professional services:
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What is a registered agent? A registered agent is an individual or business entity responsible for receiving important tax forms, legal documents, notices of litigation and official government correspondence on behalf of your business. Think of your registered agent as your company’s point of contact with the state.
Who can be a registered agent? A registered agent must be a resident of Arkansas or a corporation, such as a registered agent service, authorized to do business in Arkansas. You can choose a person within the company, including yourself.
Recommended: Free First Year of Registered Agent Service with Northwest LLC Formation ($29 + state fee) Step 3: Submit the Arkansas LLC Certificate of Organization
To register your Arkansas LLC, you will need to file Form LL-01 – Certificate of Organization with the Secretary of State. You can apply online, by mail or in person.
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If you are expanding your existing LLC to the state of Arkansas, you will need to form a foreign LLC.
Arkansas LLCs do not require an operating agreement, but it is a good practice to have one.
What is an operating agreement? An operating agreement is a legal document that describes the ownership and operating procedures of an LLC.
Why are operating agreements important? A comprehensive operating agreement ensures that all business owners are on the same page and reduces the potential for future conflict.
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What is an EIN? EIN is short for Employer Identification Number. EINs are nine-digit numbers issued by the Internal Revenue Service (IRS) that help identify businesses for tax purposes. It’s basically a social security number for the business.
An EIN is sometimes called a Federal Employer Identification Number (FEIN) or a Federal Tax Identification Number (FTIN).
What if I already have an EIN for my sole proprietorship? The IRS requires a sole proprietor to obtain a new EIN when converting to an LLC.
Where can I get an EIN? You can get an EIN for free from the IRS. Obtaining an EIN is an easy process that can be done online or by mail.
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For International EIN Applicants: You do not need an SSN to get an EIN. For more information, read our How to Get an EIN as a Foreign Person guide.
LLC is short for limited liability company. It is a simple business structure that offers more flexibility than traditional corporations.
An LLC is one of several business structures, including sole proprietorships, partnerships, and corporations (including C corp and S corp). For more information, see our What is an LLC guide.
If you’re having trouble coming up with a name for your LLC, use our LLC Name Generator. It will find not only your unique business name but also an available URL to match.
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Once you have your business name, the next step is a unique logo. Get your unique logo with our free logo generator.
Most LLCs (DBAs) do not need to do business by name. The LLC name will serve as your company name and you can accept checks and other payments under that name. However, if you want to do business under a different name, you may want to register a DBA.
Yes. You or someone else in your company can act as the registered agent of your Arkansas LLC.
Using the service of a professional registered agent is an affordable way to handle government filings for your Arkansas LLC. For most businesses, the benefits of using a professional service outweigh the annual costs.
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An LLC is called a “domestic LLC” when it does business in the state in which it was incorporated. Usually, when we refer to an LLC, we are actually referring to a domestic LLC. A foreign LLC should be formed when an existing LLC wants to expand its business to another state.
No The Operating Agreement is an internal document that you should keep for future reference. However, many states require by law that LLCs have an operating agreement.
A Social Security Number is not required to obtain an EIN. You can fill out IRS Form SS-4 and leave section 7b blank. Then call the IRS at (267) 941-1099 to complete your application. Learn more about applying as an international applicant here.
When you receive an EIN, you will be informed of the different tax classification options available. Most LLCs elect permanent tax status.
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However, some LLCs can reduce their federal tax liability by electing S Corporation (S corp) status. To learn more, check out our LLC vs. Read the S Corp Handbook
All LLCs with employees or any LLC with more than one member must have an EIN. It is required by the IRS.
Learn why we always recommend getting an EIN and how to get one for free in the Do I Need an EIN for an LLC?
When your personal and business accounts are mixed, your personal assets (your home, car, and other valuables) are at risk if your Arkansas LLC is sued. In business law, this is called piercing the corporate veil.
What Is An Llc?
Recommended: Read our Best Small Business Banks review to find the best national banks, credit unions, banks suitable for business loans, many brick-and-mortar branches, and more. 2. Obtaining a company credit card:
To learn more about business credit cards and their benefits, check out our review of the best small business credit cards.
Business insurance helps you manage risk and focus on growing your business. The most common types of business insurance are:
Get the protection you need from a specialist small business insurance provider. Find out how much insurance will cost you by getting a quote from our partners at Next Insurance.
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Creating a website is an important step in legitimizing your business. Every business needs a website if they want their customers to find you.
Recommended: Get started today with our recommended website builder or check out our review of the best website builders.
Press releases are one of the easiest and best ways to promote your business. Among the cheapest strategies are:
To operate your Arkansas LLC, you must comply with federal, state, and local government regulations. For example, restaurants may require health permits, building permits, signage permits, etc.
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The details of business licenses and permits vary from state to state. Read carefully. Don’t be surprised if even smaller classes are needed.
Fees for business licenses and permits vary depending on the type of license you are trying to obtain.
Find out how to get the necessary licenses and permits for your business or how to have it done for you by a professional service:
Recommended: If you are a first-time business owner, consider having your business’ professional service licensing requirements reviewed. Read our best business license services review on Startup Savant.
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Depending on the nature of your business, you may need to register for one or more forms of state taxes.
If you are selling a physical product, you must usually register for a seller’s permit through the Arkansas Office of Tax and Revenue website.
A sales tax, also called a “sales and use tax,” is a tax imposed by states, counties, and municipalities on business transactions involving the exchange of certain taxable goods or services.
If you have employees in Arkansas, you must register for unemployment insurance tax through the Department of Employment Services. You must apply for withholding tax through the Tax and Finance Office.
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How you pay as an owner also affects your federal taxes. Visit our guide to learn more about getting paid from your LLC.
In Arkansas, all LLCs are required to file and pay an annual franchise tax. This can be done online or
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