Georgia is a beautiful place to start a business. Having access to international trade and the world’s busiest airlines, it is considered one of the leading technology centers in the U.S and an innovator’s dream. This goes to say that forming a new business in the Peach State is not that hard.
The Georgia LLC is a legal structure designed to preserve your assets such as home, bank account, and car if your business is getting sued. Legally registering your business and keeping it in order involves some necessary costs, and some of these payments are payable to the Georgia Secretary of State, while others are due to the Georgia government.
To guide you, we have gathered the total Georgia LLC cost and the legal requirements you need to accomplish:
Requirements to Start your Business Right Away
Filing Fee: When filing the LLC’s Articles of Organization, the charge to be paid to the Georgia Corporations Division is $100 online or $110 by mail.
Certificate of Authority: If you extend your Georgia LLC beyond state boundaries, you will need a Certificate of Authority or Foreign Qualification to operate in another state. It is usually required if you have a physical presence, employees, or banking in a state other than Georgia. Fees and requirements for qualified aliens depend on the policies of each state.
Business License and Permits: Georgia LLC may require special licenses and permissions to comply with specific requirements. Georgia, regional, or federal organizations may issue these business permits and licenses. Some of the associated charges only need to be paid once, while others have an ongoing cost.
Remember that managing your business without the required permissions can show you risks and fines from the federal, local government, and Georgia State.
Operating Agreement: A business document covers how the business will operate, how managers and members are selected, the rights and duties of members, and the Operating Agreement.
However, it is not required for Georgia LLCs and does not need to be submitted to the GA Secretary of State. But, it is a great idea to have an agreement in place to help avoid confusion and conflicts on the road.
Registered Agent: Your Georgia LLC requires a registered agent, who must be designated when you first incorporate your LLC and file your initial paperwork. If you wish to move to another registered agent later, you will need to file the appropriate paperwork. Georgia permits you to change your registered agent when you file your annual report, which takes the yearly submission fee.
Certificate of Existence: Some businesses will ask you to prove your Georgia LLC’s compliance with laws and tax requirements. In that case, you will require a certificate of Goodwill, titled “Certificate of Existence,” from the Georgia Secretary of State.
Overall, LLCs in Georgia tend to be lower in cost than corporations. But the fees for filing articles and annual reports are the same for both Georgia corporations and LLCs. Nevertheless, Georgia LLC costs $100 online in start-up fees. This may seem time-consuming, but complying to the legal requirements for your new business in Georgia is easy.
However, if you think you are too busy to work on these documents, make sure to consult an expert and have a reliable agent do this for you to avoid unnecessary fees and penalties.