Small Business Development Guide
Limited Liability Company (LLC)
An LLC is a hybrid of a partnership and a corporation. You may form an LLC with one person. The liability protection is similar to a corporation and the taxes are similar to to a partnership. An LLC can be created by filing the Article of Organization and Appointment of Statutory Agent, along with $125 filing fee, with the Ohio Secretary of State's office at (614) 466-3910. There are certain formalities of the Articles of Organization and with maintaining an LLC, and it is recommended that you hire an attorney for assistance with filing and understanding what is necessary for your business. Expect to pay $500 to $1,000 for this legal service.
When starting an LLC you will need a Tax ID Number, which can be obtained by filing an SS-4 Form with the IRS at 1-800-TAX-FORM (1-800-829-3676). See Partnership, worker's compensation coverage may be required for all parties of an LLC depending on the Bureau of Worker's Compensation's four factor test. Contact the Bureau for information at 1-800-644-6292.