Forming an LLC in Pennsylvania
Forming an LLC in Pennsylvania in 7 easy steps
- Begin by deciding a name for your limited liability company. The name must be unique, i.e. not used by another LLC, and you must of course adhere to trademark law. The name must also include an LLC identifier, e.g. “L.L.C.” or “Limited Liability Co”. When forming an LLC in Pennsylvania certain words are prohibited in the name, such as words that constitute blasphemy, profane cursing or swearing, or words that profane the Lord’s name. There is also a list of terms that can only be used if you have obtained the correct license or is registered with the right authority, e.g. ‘‘pharmacist”. ‘‘architect’’ and ‘‘engineer’’. Before you form an LLC in Pennsylvania, it is a good idea to obtain a complete list over prohibited and restricted words from the Pennsylvania State filing office.
- Flawed Operating Agreements are known to cause IRS troubles for LLC’s and it is therefore advisable to let an attorney go through your Operating Agreement before you adopt it. Hiring an attorney is not required by law; it is entirely up to the members of the LLC.
- Go to the filing office in the state of Pennsylvania and file the Article of Organization for the LLC. When forming an LLC in Pennsylvania, the minimum filing fee is $125. (For 40business days.)
- Now is the right time to formally adopt your Operating Agreement. Have a meeting with all the members (owners) of the LLC and adopt the agreement.
- Your LLC can now get its own FEIN (Federal Employer Identification Number).
- Open up a company bank account to handle your transactions.
- Apply for local business licenses and any necessary permits from the cities and counties in which you will be doing business.
Maintaining an LLC in Pennsylvania
Unlike most other states, Pennsylvania does not require annual reports and annual report fees from limited liability companies.
