Forming an LLC in Mississippi

Forming an LLC in Mississippi in 7 easy steps

1. To begin with, your company must of course have a name that adheres to Mississippi state law. You are not allowed to use the terms “bank”, “banking”, “banker”, “bankers”, “insurance”, “trust” or “trust company” and you must include an LLC identifier in the name, such a “Ltd Liability Coy” or “LLC”. You should also keep in mind that it is prohibited for LLC’s to have names that contain any of the words “incorporated”, “corporation”, “limited partnhership” or “partnership”, as well as words of similar import. Combinations and/or abbreviations of prohibited words are naturally also banned. You cannot pick a name that is already used by another LLC and you must follow trademark law.
2. According to Mississippi state law, you are not required to hire an attorney when forming and LLC in Mississippi. Forming an LLC is pretty straightforward and most people can do it without help from a legal expert, but it can still be a good idea to hire an attorney to check your Operating Agreement because faulty Operating Agreements are known to easily cause IRS problems for LLC’s. Paying an attorney now can save you a lot of money in the long run.
3. When you have a name and an Operating Agreement, head for the Mississippi state filing office where you will file the Articles of Organization for the LLC. The minimum state filing fee for LLC formation is $50.00. (For 25 business days.)
4. The next step when forming an LLC in Mississippi is to have an Organizational Meeting where the members (owners) of the LLC adopt the Operating Agreement for the LLC.
5. Once the Operating Agreement has been adopted it is time for the newly formed LLC to obtain a Federal Employer Identification Number (FEIN).
6. Don’t forget to arrange a company bank account for the LLC to handle your transactions.
7. Last but not least, the LLC needs to obtain any necessary local business licenses and permits from the cities and counties where it will be conducting business.  

Maintaining an LLC in Mississippi
In the state of Mississippi, LLC’s are required to hand in their annual reports by January 1st. The report fee is $25..