Form a Kentucky LLC today
When forming a Kentucky LLC, there may be certain advantages and disadvantages afforded to you. Certainly, the most important factor in forming a LLC is the liability protection. This liability protection will provide protection of your personal assets should you be faced with a lawsuit. It is key however to make sure you maintain a separation of you as a person from the corporation. This means that business accounts can't be mixed with personal accounts. Bills and investments from the LLC can't be paid using personal funds. There are also certain tax advantages of forming a LLC as well.
Useful guidelines in naming your LLC
A Kentucky limited liability company name must follow certain guidelines for approval by the Secretary of State. First the name of the limited liability company must in “Limited Liability Company”, “Limited Company” or its abbreviation. The name of the LLC must be distinguishable upon the Secretary of State. This means that the name must be distinguishable either by a spelling difference or addition or removal of a word. An example of a name sounding similar and spelled differently is “catz” vs. “cats.
What is a registered agent?
In every state, a registered agent is required to maintain LLC status. A registered agent must be an individual, over 18 years of age and a resident of the state that the filing is submitted. The role of the registered agent is to accept process from the Secretary of State should the company be sued. The registered agent is not necessarily associated with the operation or is necessarily the owner of the LLC. However, it is wise to choose a registered agent that is trust worth because of the significance of their role. In most cases the registered agent is the organizer or owner of the LLC. One can also have a third party be designated as a registered agent.
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