Why form a Louisiana LLC?
When forming a Louisiana LLC, it is important to note that the biggest advantage of an LLC over a sole proprietorship is the liability protection that is afforded to you. When running a sole proprietorship, all personal assets as well as company assets are vulnerable to a lawsuit. By creating a separate legal entity away from the individual, this protects all personal assets from lawsuit. This protection is afforded to the owner, member and any other person associated with the LLC. Protect yourself today and form a LLC. We can help.
Useful tips in naming your LLC
All Limited Liability Companies formed in Louisiana must have the legal designator of “Limited Liability Company” or its abbreviation “LLC”. Names that are checked for availability must be distinguishable from any other LLC, Corporation and trade name. When checking to see if a proposed business name is available, take in to account the various spellings of words as well as words that are spelled different but have the same meaning. Ex. Easy, EZ, E-ZEE ). The name shall not imply that the corporation is an administrative agency of any parish or of this state or of the United States. Names that businesses that were revoked are not available for use for 3 years after the date they were revoked. LLCs cannot have the designator of “Doing Business As (DBA)” in their LLC name. Lastly, the LLC name shall not contain any word or phrase which indicates or implies that it is organized for any purpose not lawful for a limited liability company in Louisiana or contrary to its articles of organization. The names of revoked Louisiana corporations and limited liability companies are not available for a three year period after the date of revocation.
Management types of your LLC
There are two types of management systems for your LLC. The types are manager managed and member managed. The most common is the member managed system where all the members have equal say in the management of the LLC. The other system, manager managed, there is a third party outside of the members to manage the daily affairs of the LLC. The manager can also be a member as well.
What is a Registered Agent?
Every state does require each corporation to have a Registered Agent. The role of the registered agent is to be the point of contact for the Secretary of State. They require an individual to be over the age of 18 and a resident of the state whom the Secretary of State can serve process to. Therefore it is important to have someone who is reliable to serve as the registered agent since the Secretary of State will be sending legal documents. If an individual or an address can't be provided, there are third party companies who can serve as the registered agent and they can forward the legal documents to you. This service requires a certain annual fee.
Do I need a notary?
Yes. The articles of organization do need to have all the signatures to be notarized by an authorized notary. Failure to not notarize your documents will delay the submission process.
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