Do you have a killer product you’re ready to start selling nationwide? Are you finally ready to take the plunge and purchase that building to open your very own restaurant? Setting up an LLC in Kansas may be your first step.
Whatever your market may be, it’s important to briefly hit pause while you consider the legal business formation. This is a necessary step to insulate yourself personally from the devastation of a lawsuit or creditor claim involving your product or service.
Lex Launch takes the guesswork, hidden fees, and headache out of obtaining an LLC in Kansas. By working with one of the company’s experienced Kansas business attorneys, you will have a solution in a fraction of the time it takes to work with a traditional law office.
3 Steps to Set Up Your Kansas LLC
The concept of a Kansas “Limited Liability Company” is created and governed by Kansas corporate laws. These laws mandate the precise forms and documents necessary to create this type of entity, which protects its member(s) from personal liability if a legal issue were to arise involving the business. LexLaunch is here to help clients navigate the Kansas LLC set up process, including:
1. Start-up Tasks
The process begins by choosing a legal name for the entity (check what’s available through the Kansas Business Center), followed by a request for a federal tax ID from the Internal Revenue Service. You’ll also need to decide who the LLC members will be and which of those members will fulfill leadership roles.
2. Make it Official
Lex Launch will help your business prepare the necessary documentation to formally register you as a Kansas LLC, including Kansas-compliant Articles of Organization, Operating Agreement, etc. You’ll also need to identify your Resident Agent and enroll with the Kansas Department of Revenue for state taxation purposes.
3. Stay Compliant
For a Kansas LLC to do its job, it will need to be well-run and comply with certain business formalities. You’ll need to hold regular meetings, take thorough minutes, file an annual report, and keep books and records in order.
Purpose of an LLC
If you’re just starting out (and on a budget) it may seem like formal corporate formation is not really necessary. However, creating an LLC is a small investment that can reap dividends in the long run, particularly if your business experiences a setback or major legal issue.
In the event an LLC finds itself on the receiving end of a lawsuit for damages (i.e., money), individual members will be insulated from personal financial responsibility to correct the problem—meaning, your home and personal savings will be safe. Further, creditors of LLC debt may only seek payment from the business itself – not individual members.
Peace of mind is invaluable when it comes to your business. Call Lex Launch right away to learn about our flat fee Kansas LLC set-up – we look forward to working with you!