Form an LLC in Louisiana with Inc Authority for Free

The first step toward starting a new business in Louisiana or any other state is to come up with a feasible and profitable business idea and make a business plan. This involves planning the various aspects of how you will launch your new business.

Your business plan should answer key questions about your business, such as who its target audience is and what products or services it will offer. You should also plan how you will market your new business and win your first few clients.

Choose a business name that well represents your business and is not misleading. Your chosen LLC name should be unique and must not be used by any other business in Louisiana. It should also be short and easy to remember.

Follow the naming guidelines of the state of Louisiana and ensure that the name doesn’t suggest a non-profit organization if you have a for-profit business. Also, add terms like Limited Liability Company or its abbreviations to your LLC name.

Ensure that you reserve your chosen business name or LLC name if you anticipate a delay in the LLC registration process. This will ensure that no other business can use your chosen LLC name for the period for which it is reserved.

In Louisiana, you are allowed to reserve a business name for a period of 120 days. To reserve a business name, you must apply with the Louisiana Secretary of State, along with the state filing fee of $25 and expedited filing fees, if applicable.

Select a Louisiana registered agent to receive all legal correspondence on behalf of your business. If your business gets sued or gets a legal notice, your registered agent will receive it and inform you of the same on time.

You can choose to be your own registered agent, but that would require you to always be present at the registered address during the business days and hours. As a busy entrepreneur, that may not always be possible for you.

Determine whether you need to start a foreign LLC or a domestic LLC in Louisiana. This choice will depend on whether you have an existing business and want to expand it or if you want to start a new business from scratch.

If you already have an established business in another state and want to expand it to Louisiana, you’ll need a foreign LLC. If you’re establishing a new business in Louisiana, then you’ll need to form a domestic LLC.

The next step in the process is to create an operating agreement that guides how your Limited Liability Company in Louisiana will operate. It covers detailed guidelines on how the roles and responsibilities of members and managers.

It also defines the clear rules on who makes the decisions and how and how conflicts will be resolved. As such, you should make a detailed LLC operating agreement to ensure all important governance guidelines are covered.

Legally register your LLC by submitting your articles or organization to the Louisiana Secretary of State. You may do so by filing the application and all accompanying documents online or by sending it via mail or in person.

Make sure you fill out all required information accurately and provide all the necessary information. Pay the $100 filing fee while submitting your application and choose one of the expedited filing options if you so wish, at an extra cost.

Every business needs an employer identification number, also known as a Tax ID. The government and the Internal Revenue Service use this number to recognize and track a business and its tax filings each year, or lack thereof.

Employer Identification Number is not just useful for tax purposes but for various other reasons. For instance, you will need an EIN to open a bank account in the name of your LLC. Having an EIN also improves your chances of getting external funding.

To ensure that your business finances remain completely separate from yours, open a bank account in your business’s name. This will streamline your business finances and also help you build a banking history for your business.

Look for hybrid business banking options that do not require you to visit a physical branch for every need. Choose the right business banking solution that helps you manage your business finances easily from anywhere and anytime.

Depending on the type of business you want to start in Louisiana, you may need different licenses and permits. Most businesses require a general business license, but specialized businesses require a few more licenses.

For example, a restaurant may require a food permit or a liquor license. Check out the detailed requirements specific to your business, and obtain all required federal, state, and local licenses to start your business operations.

A Limited Liability Company in Louisiana has the flexibility to choose its tax structure. A single-member LLC is taxed as a Sole Proprietorship and follows pass-through taxation where the business income passes to the LLC members.

A multi-member LLC, on the other hand, can be taxed as a Partnership and follow the pass-through taxation. Alternatively, it can also choose to be taxed as a Corporation, including both C-Corp and S-Corp tax structures.

Opt for an assumed name or fictitious name, aka trade name, if your chosen business name is too long or not memorable enough for branding purposes. Following the naming conventions may make your official LLC name too long.

File for a Doing Business As (DBA) or trade name with the Louisiana Secretary of State. You will need to pay a filing fee of $75 to register a trade name and if you want to reserve it for 120 days, you need to pay $25 extra for it.

If you want to protect your brand name, logo, or some other brand element, you can get a trademark. It costs the same as a trade name and involves the same process where you file an application with the Secretary of State. 

Doing so will allow you to protect your brand and prevent any other company from copying your brand name or logo. You may also get servicemarks. If you apply for multiple categories, you need to pay the fee multiple times.

Forming an LLC in Louisiana is a one-time thing, but running it in compliance with the state’s laws is an ongoing process. Make sure you follow all regulatory requirements and stay in good standing with the state.

Two key requirements you need to comply with include paying taxes and filing your LLC’s annual reports on time. Failing to do so may result in penalties or cancellation of your LLC’s registration status, making it non-operational.

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

• LLC name search: Look for your chosen business name in the state’s database to ensure it’s not used by any other entity, using Inc Authority’s free search tool.

• 1-year registered agent services: Get complimentary registered agent services from a Louisiana resident agent for one year, after which you’ll need to pay for it.

• Digital document storage: Store your business registration documents online on Inc Authority’s cloud storage and easily access them anytime, anywhere.

• Tax consultation: Consult a tax specialist to assess the tax requirements for your Louisiona LLC and get advice on how to save the most money on taxes.

• LLC registration service: Take help from Inc Authority’s business formation experts to file your articles of organization and register your Louisiana LLC.

• S-Corp formation: Opt for the S-Corp tax status by filling out Form 2553 of the IRS and taking the Inc Authority’s help in the registration and filing process.

• Business funding analysis: Get in touch with an expert to seek guidance on how to acquire short-term and long-term funding to expand your business.

The free plan is perfect for you if you just want to register your LLC and don’t require other services. As such, if you want additional services, paid plans might be better than paying for individual services as add-ons.

Price: Free

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

• LLC operating agreement: Take help from experts at Inc Authority to prepare a comprehensive Louisiana LLC operating agreement to streamline the operations and decision-making process of your LLC in Louisiana.

• Employer Identification Number: Apply for an EIN for your Louisiana business with help from the Inc Authority. It will help you through the entire application process and even let you choose expedited filing options.

• Corporate forms and documents package: Access a plethora of legal and business document templates. Use these to draft various business documents, contracts, and agreements to save time and effort.

• Annual compliance notifications: Get annual notifications for various compliance deadlines, such as the last date to file an annual report. This ensures you don’t miss any deadlines or incur penalties.

• Detailed tax consultation: Get a detailed tax consultation to plan your business taxes and maximize tax returns. Ask any questions you may have and have an expert take care of your entire tax planning process.

• Web domain + 5 business email addresses: Create a website for your business in Louisiana and get a free web domain registration. You may also get five business email addresses for free if you want.

This is the basic paid plan that Inc Authority offers, which has all the essential services you’ll need to start a new business in Louisiana and hit the ground running.

Price: Custom

Here are the additional services you’ll get over and above what you get with the Starter plan:

• Customer success advisor: A customer success advisor will be assigned to you when you opt for this top-tier plan. They will be your single point of contact for anything and everything you need to start and run a successful business. They’ll help you through the entire process.

• Private banking specialist: You’ll also be assigned a banking specialist who will help you understand your business banking needs. They will also provide you with various banking solutions that are perfect for your business and guide you on how to choose the best option.

• Personalized business advisory: As a new entrepreneur, you’ll need all the help you can get to ensure that your new business is a success. Inc Authority has numerous business experts who can provide specialized advice on different aspects of running a business.

• Expedited preparation & filing: If you want to get first priority and have the team prepare and file your application within the same day, then you need to choose this plan. With this plan, you get expedited filing of your application, but the processing time depends on the state.

This plan is suitable for those who want to be treated as the top priority and don’t mind paying for premium services.

Price: Custom