There are very few ways to confirm if your LLC has been approved in the United States. While the exact one you use will depend on your location as well as your needs, it is important to first understand that approval times vary from one state to another but may take just a few weeks.
Also, keep in mind that some states approve the LLC immediately after you send in your articles of organization and pay your fee.
Most often, you will be notified by your state once it has been approved, usually by mail. Howbeit, if you are yet to receive a notification, then you might want to look into the options noted below.
Ways to Know If Your LLC is Approved in the United States
The LLC has become a viable option for business owners who are looking to leverage the benefit of this legal structure. Howbeit, after you have completed the necessary paperwork and sent in your application, you might be seeking ways to ascertain if your LLC has been approved. Below are ways to find out if your LLC is approved in the United States;
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Check Your State’s Business Entity Database
Keep in mind that every state in the United States maintains a database of registered business entities, including LLCs. Most often, you will find that these databases are accessible online via the website of the Secretary of State or a similar governing body tasked with business registrations.
You can search for your LLC’s name to ascertain the status of the LLC. If you find your LLC in the database with an “active” or “approved” status, it simply entails that the registration was successful.
Aside from that, keep in mind that a good number of states provide email or text notifications once your LLC is approved, as such take your time to sign up for these services if available in your state.
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Review Your Formation Documents and Confirmation Materials
Most often, once you have sent in your LLC formation documents, you will get confirmation of your submission. Note that this confirmation might come with a stamped copy of your articles of organization or a filing receipt from the state agency that is tasked with overseeing such application.
If you filed online, it is possible to get an electronic confirmation via email. Go through these documents carefully to check if your LLC has been approved.
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Consult with Legal or Business Professionals
Keep in mind that seeking guidance from legal or business professionals can prove to be of good help. Attorneys who are experienced in business law or certified public accountants (CPAs) with expertise in small business matters can go through your documentation, and deal with any concerns, while also guiding your next steps.
Although this particular option will warrant certain financial commitments, note that it can offer peace of mind and guarantee adherence to state regulations.
Top Things to Do After Confirming Your LLC Approval
Choosing the right business structure is very essential, and opting for an LLC ensures that you can benefit from the varying protection it offers to both you and your business.
However, once you have ascertained that your LLC is approved and legally recognized, you must focus on other vital steps that ensure that your business is set up for success. Below are the top things to do after confirming your LLC approval;
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Obtain Your Employer Identification Number (EIN)
An Employer Identification Number (EIN) refers to a unique nine-digit identifier that is given by the Internal Revenue Service (IRS) to businesses for tax purposes.
Even if your LLC barely has employees, keep in mind that obtaining an EIN is very important especially when it comes to opening a business bank account, filing taxes, as well as carrying out many other business-related financial transactions. It is quite easy to get this number since you can apply online via the IRS website, and the process is free of charge.
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Open a Business Bank Account
Keep in mind that opening a dedicated business bank account makes it possible and easier to track income, expenses, as well as other financial transactions that involve your LLC.
Also, make sure to only work with a well-known bank or credit union that provides business banking services as well as other features and benefits that fall in line with your business needs.
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Draft an Operating Agreement
Although not considered a legal requirement in every state, taking your time to put together an operating agreement is highly recommended for LLCs.
This document puts out the ownership structure, responsibility of management, decision-making processes, as well as operating procedures of your business.
Irrespective of whether you’re the sole owner of the LLC, coming up with an operating agreement comes with a whole lot of benefits as it will help to limit or entirely avoid any form of disputes, and clarify expectations, while also guaranteeing the efficient operation of your business.
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Obtain Necessary Business Licenses and Permits
Although this will most likely depend on your location as well as the nature of your business activities, you must understand the necessary licenses and permits you need to do business legally and focus on obtaining them.
Keep in mind that these requirements will most likely vary by industry, jurisdiction, and business activities, and making the mistake of not obtaining the relevant licenses and permits will lead to fines, penalties, or even the suspension of your business operations.
5. Secure Business Insurance Coverage
It is also important you invest in safeguarding your LLC and its assets against unpredicted risks and liabilities. As such, you need to obtain the requisite business insurance coverage to limit financial losses that come with things like property damage, liability claims, or other business-related risks.
Some of the most common types of business insurance for LLCs include general liability insurance, property insurance, professional liability insurance, as well as workers’ compensation insurance, although this will more or less depend on your business activities and industry.