Form an LLC in Arkansas with Inc Authority for Free

Choose a name for your business that is short, memorable, and relevant. Check the state database to ensure that no other business is using your chosen name. Ensure that the name follows the Arkansas LLC naming guidelines.

Sometimes it may take some time for you to complete all the formalities. To protect your chosen business name during this period, you can reserve it with the state by paying a filing fee of $22.5 for online filing or $25 for paper filing.

While this is completely optional, we recommend that you reserve a domain name for your website that matches your chosen business name. The simple reason is that your website’s domain should represent your brand and this will help.

You don’t want to end up in a situation where you register your Limited Liability Company and later realize that there’s no available domain name matching your business name. That’s why it’s prudent to think about this beforehand.

According to the new LLC laws of the state, you need to provide the information for your registered agent while filing the application to receive a Certificate of Organization. There is no separate filing fee that you need to pay for this.

A registered agent can be an individual or a company who accepts the responsibility of receiving all business correspondence on your behalf. They’re also responsible for forwarding any time-sensitive legal notices to you on priority.

According to the modified LLC laws by the state, filing a written LLC operating agreement when registering an LLC is no longer required. The state allows LLCs to run based on oral operating agreements among the members.

Also, in the absence of any operating agreement, the default provisions of the ULLCA apply. However, we highly recommend forming one for internal use and it can simplify your operations by listing the rules of governance.

The “Articles of Organization” are called the “Certificate of Organization” in Arkansas. This is the official document that you need to file with the Arkansas Secretary of State to register your Limited Liability Company in the state.

As per new regulations, you only need to provide important information like the name and address of the business and the registered agent information when filing this. When the state accepts your application, your LLC is legally registered.

Even after your Arkansas LLC is registered, you need to take a few steps before you can start your business operations. Obtaining a Tax ID number or an Employer Identification Number is one such necessary step you must complete.

An EIN is your business’ identity and the Internal Revenue Service (IRS) uses it to identify your business for tax purposes. It is also required for various business purposes, such as opening a business bank account and paying employment taxes.

Next on your list of things to do when starting an LLC in Arkansas is to open a business bank account. This will help you keep your business finances separate from your personal finances and also manage your accounts better.

You should do some research and find the best business accounts and banking options for your small business. Make sure you choose a bank that offers a hybrid banking model and allows you to manage your finances on the go.

This is another mandatory requirement for running a business in Arkansas. You must find out the requirements for any business licenses and permits you need for your specific business at Federal, state, or local levels.

As the requirements vary by type of business and the area of operation, it would be specific for your LLC in Arkansas. You may, for example, need an occupational license if you start a professional Limited Liability Company.

Unlike other business entities, LLCs have the flexibility to choose how they want to be taxed. By default, a single-member LLC would be taxed like a Sole Proprietorship where the business profits and losses pass to the owner.

A multi-member LLC in Arkansas, however, can choose to be taxed as a C-Corp, an S-Corp, or a Partnership. Each has its own set of advantages and disadvantages, so make your choice after careful consideration of each option.

A DBA is an assumed name or fictitious name that businesses often use to conduct their day-to-day business. One of the main reasons why businesses use this is to shorten their official name to make it more memorable and catchy.

The naming conventions for LLCs, in many states, require businesses to add words like “limited” or “LLC” to their registered names. This sometimes leads to names being long. If that’s the case for you, you can file for a DBA for your business.

Here are the features you’ll get with this plan:

• Business name search: It offers a free tool that you can use to search for the availability of your chosen business name within your state.

• Registered agent services (1 year): You get one year’s worth of complimentary registered agent services with both the free and paid plans.

• Digital document storage: When you sign up for any plan, you will get your own account that you can use to store your business documents online.

• Brief tax consultation: You will get access to a tax expert to whom you can ask questions and get guidance on how to get the most tax savings.

• LLC formation: Inc Authority’s team of experts will review and file all Arkansas LLC paperwork to help you start your new business.

• S-Corp election: If you want to get the special S-Corp tax status for your LLC, Inc Authority will also help you fill out and submit Form 2553 of the IRS.

• Business funding analysis: Every business needs funding to grow and Inc Authority will analyze your LLC’s short-term funding requirements.

The free plan is perfect for new entrepreneurs on a shoestring budget, who just want basic services to form an LLC. If you need more services, you should check out the two paid business starter bundles that it offers.

Price: Free

Here are the additional services you’ll get with the Starter plan, in addition to what you get with the free plan:

• LLC operating agreement: Though not necessary, it’s recommended to draft a written operating agreement and Inc Authority can help you with that.

• Employer Identification Number: Every business needs an EIN for various purposes and Inc Authority can help you get one with this plan.

• Corporate forms and documents package: With the Starter plan, you will get a whole set of templates to help you prepare various business documents.

• Annual compliance notifications: Inc Authority’s team will notify you of all upcoming compliance deadlines and ensur you don’t miss anything.

• Detailed tax consultation: This will be a more detailed tax consultation than the one offered with the free plan, to help you get more tax savings.

• Web domain + 5 business email addresses: Inc Authority has tie-ups with leading website builders to help you build an SEO-friendly website.

Price: Custom

Here are the additional services you’ll get with this plan:

• Dedicated customer success advisor: With the Fasttrack plan, you will get a dedicated advisor who will help you through the business formation process. They’ll be your point of contact for everything you may need to start your new business and leverage Inc Authority’s various services.

• A private banking specialist: You’ll also get access to a private banking expert who will help you understand your business’s banking needs. They’ll also provide you with the best business banking options and help you choose the right checking and savings accounts for your new business.

• Personalized business advisory services: Inc Authority will act as your partner to help you grow your business, not just register it with the state. You’ll have access to experts in various fields to guide you on how to expand your business and answer all your business-related questions.

• Expedited application filing: One of the biggest advantages of going with the highest-tier plan is that you get priority service. Your application will move to the top of the pile and will be filed within the same day. This will ensure that your business gets registered quickly and you start operations ASAP.

You will also get more personalized and high-touch services overall, with this plan. As such, if you want a premium service experience and are willing to pay for it, this is the plan for you. But if you want basic services, the free plan is more than enough.