website to register a business name in ohio

From there, you’ll need to make sure you have the financial ability to keep paying workers’ comp insurance for your workers. If you need workers’ compensation insurance-which many LLCs do-you’ll have a filing fee of $120. That saves you some money, but you have other ongoing expenses to think about. Unlike in other states, you don’t have to pay a yearly fee for your LLC in Ohio. It’s higher if you choose to work with a business attorney. That brings the bare minimum starting investment to $138.

You also need $99 to file your articles of organization. That guarantees that no one else will take your business name for a given amount of time. When reserving your LLC name, you’ll need to shell out a $39 processing fee. However, you’ll need a small financial investment, too. Most of the investment you’ll need when starting an LLC in Ohio is time. The Investment Needed to Start an LLC in Ohio You also can’t raise money for an LLC in Ohio by issuing stock, making it harder to fund your business. Unfortunately, looking at a few drawbacks to starting an LLC in Ohio, you’ll pay higher self-employment taxes. For example, they don’t pay an annual fee or report to continue doing business as an LLC. LLCs have fewer general obligations than corporations, too. You also have some say in how you get taxed, either as a corporation or pass-through entity. As an LLC, you also avoid getting taxed twice as a C-corporation. When it comes to taxes and regulations, LLCs have less strict guidelines and less paperwork than other types of businesses. It means you can worry less about what happens to your assets in those situations and instead focus on growing your business. Why Starting an LLC in Ohio is Worth ItĪn LLC offers your business protection from lawsuits and other claims. Follow these steps to start your LLC in Ohio and make things easy for yourself. If you’ve been scared off by the idea of complex paperwork and legal requirements, we’re here to help. Disclosure: This content is reader-supported, which means if you click on some of our links that we may earn a commission.ĭo you have big ideas for your business? An LLC might sound fancy, but it’s also a great way to protect your business.

Website to register a business name in ohio