Here’s how to start an LLC in Montana in 10 simple steps.
1. Choose a name for your LLC. This name must include the phrase “Limited Liability Company” or “L.L.C.” It can also include “LLC,” “LC,” or “Ltd. Liability Co.”
2. File a Certificate of Formation with the Montana Secretary of State’s office. You can do this online, by mail, or in person. The filing fee is $70.
3. Appoint a registered agent for your LLC. This person must be a resident of Montana and will be responsible for accepting legal documents on behalf of the LLC.
4. Create an operating agreement for your LLC. This is not required by Montana law, but it is highly recommended as it will outline the ownership and management structure of your LLC, as well as the rights and responsibilities of each member.
5. Obtain any necessary licenses and permits for your business. Depending on the nature of your business, you may need to obtain special licenses or permits from the state or local government in order to operate legally.
6. Open a business bank account. Once you have obtained your EIN, you can open a business bank account in the name of your LLC. This will make it easier to keep track of your business expenses and income separately from your personal finances.
7. If you will have any employees working for your LLC, you will need to obtain workers’ compensation and unemployment insurance coverage for them. You can do this through the Montana Department of Labor and Industry’s Workers’ Compensation Program or through a private insurance carrier.
7. If you will not have any employees working for your LLC, you are not required to obtain workers’ compensation or unemployment insurance coverage, but you may want to consider doing so anyway as it will protect you from liability if any workers are injured while working for your company.
8. Begin paying taxes on your LLC’s income . You will need to file both federal and state tax returns for your LLC each year, as well as pay any taxes owed on the income earned by your business.
9. File an annual report with the Montana Secretary of State’s office . This report must be filed each year on or before June 1st and there is a $20 filing fee.
10. Renew your business licenses and permits, if necessary . Depending on the nature of your business , you may need to renew certain licenses or permits every year or every few years .
Congratulations! You have now officially formed an LLC in Montana! By following these 10 simple steps, you can ensure that your business is up and running smoothly and legally from day one . Of course , this is just one small part of starting and running a successful business , but it ‘s an important one . Now get out there and make something great !