Filing a Vermont LLC
First-time business owners will likely find Vermont LLCs particularly appealing. Setting up an LLC is rather straightforward, especially when compared to registering other types of business. Furthermore, the LLC structure serves to protect members from liabilities, which could also prove to be particularly advantageous.
Steps To Filing a Vermont LLC
Choose A Name
When forming a Vermont LLC, the first thing you’ll need to do is choose a name. As you’re trying to come up with a name relevant to your business, you should remember that no two companies in the state are permitted to have the same name. To prevent yourself from wasting valuable time, you can use the DoMyLLC Name Availability Check Page.
Additionally, you should remember that you will need to add an indicator to your company name reflecting your LLC status. This could be something like “Limited Liability Company” or “L.L.C.”
Choose A Registered Agent
After choosing a name, prospective owners will have to select a registered agent. Registered agents accept legal correspondence on behalf of the company and are then responsible for delivering this information to the company’s owners. A reliable registered agent could go a long way toward a business’ success, which is why many Vermont LLC owners choose to hire DoMyLLC to serve as their registered agent.
File Articles Of Organization & Pay Filing Fees
Once you have chosen a name and registered agent, you are ready to file Articles of Organization with the Corporations Division. You will need to pay a $125 filing fee to do so. It will also contain other pertinent information, such as:
- The business name
- Fiscal year end month
- Business description
- Initial designated office
- Initial registered agent
- Name, signature, and address of organizers
File Initial Report
Vermont business owners are not subject to Initial Report requirements but must be aware of Annual Reports.
Create An Operating Agreement And Hold Meetings
Members of a Vermont LLC should craft an operating agreement that helps define the corporate structure and detail how the organization will be run. Once complete, the company can begin holding meetings.
Obtain Employer Identification Number
Employer Identification Numbers are necessary to file annual taxes and open a business bank account. You’ll need to contact the IRS to secure an EIN.
File State Required Annual Reports
Vermont LLCs are also subject to Annual Reporting requirements. They must submit an Annual Report two-and-a-half months after the end of the fiscal year. The cost to file a report is $35. If late, there is an additional $25 fee. The state also holds the right to dissolve a business if the Annual Report is not filed on time.
In addition to filing an Annual Report, Vermont LLCs must also be prepared to file taxes and renew all licenses and permits on a yearly basis.
How DoMyLLC Can Assist With Streamlining The Process
Trying to keep track of the Vermont LLC requirements can be overwhelming. That’s why DoMyLLC offers streamlined 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
DoMyLLC can handle your administrative duties so that you can focus on growing your business. Be sure to contact us today to learn more.