Filing a South Dakota LLC
Young entrepreneurs may find that the South Dakota LLC structure could be incredibly beneficial. For one, the process of creating an LLC is rather straightforward, which is helpful for first-time business owners. Additionally, LLCs provide significant liability protection to owners.
Steps To Filing a South Dakota LLC
Choose A Name
You’ll first need to choose a name to form your South Dakota LLC. The state of South Dakota requires all businesses to mention their structure in their name. For instance, because you are filing as an LLC, you consider adding “Limited Liability Company” or “L.L.C.” to your company name. If you do not do so, South Dakota will not accept your application. Additionally, you’ll want to make sure that you do not pick a name that is already in use by another company. Check out DoMyLLC’s Name Availability Check Page to prevent that from happening.
Choose A Registered Agent
After you choose a name, you’ll need to pick a registered agent to serve on your company’s behalf. The registered agent position is incredibly important, as this person or third-party company will accept legal correspondence on behalf of the company. Their information is a matter of state public record. Because of how vital this position is, many South Dakota LLCs opt for a professional company that provides registered agent services, such as DoMyLLC.
File Articles Of Organization & Pay Filing Fees
After choosing a name and registered agent, you’ll need to file Articles of Organization with the Secretary of State’s office. When doing so, owners will need to include a $150 filing fee. The Articles of Organization will provide other relevant information, such as:
- The name of the company
- Purpose of organization
- Address of the initial designated office
- Registered agent information
- Duration if not perpetual
- Management structure – if managers are in charge of the company, provide the name and address of each individual
- Additional provisions if needed
- Names, addresses, and signatures of organizers
File Initial Report
South Dakota LLCs are not required to file an Initial Report. However, owners should be mindful of Annual Report deadlines.
Create An Operating Agreement And Hold Meetings
LLC members will also find it in their best interest to create an operating agreement. This will further define the corporate structure so that members can begin holding meetings.
Obtain Employer Identification Number
Employer Identification Numbers are required to file taxes and open a business bank account. South Dakota LLC owners can obtain EINs from the IRS.
File State Required Annual Reports
The state of South Dakota requires businesses to submit an Annual Report to the Secretary of State each anniversary month. There is a filing fee of $50 to do so. If owners do not provide the paperwork in time, they are subject to a $50 penalty. South Dakota LLC owners can learn more about Annual Reports at the state page.
In addition to filing an Annual Report, owners must also pay taxes and renew business licenses and permits each year.
How DoMyLLC Can Assist With Streamlining The Process
At DoMyLLC, we have years of experience assisting business owners in South Dakota, offering services such as:
- Name availability check
- Articles of Organization preparation
- Filing of the Articles of Organization with the Secretary of State’s office
- Sample documents, including a sample Operating Agreement, meeting notices, and meeting minutes
- Dedicated account manager
- Unlimited customer support
We will work with you to come up with a comprehensive solutions package that allows your business to thrive.