Most states don’t allow two different business entities to have the same name. Every state has its own rules and procedures, but there are several steps you’ll need to follow to get your LLC up and running, no matter where you live. To form an LLC, you’ll need to file paperwork with the state where your business is located. LLCs are generally easier to set up and more flexible than corporations, and they tend to have fewer ongoing reporting requirements. An LLC, or limited liability company, exists separately from its owners (known as members), and the owners are therefore not personally responsible for business debts. Many small business owners decide to set up an LLC for the liability protection it provides.
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March 2023
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