4. Management If your LLC is managed by managers (unlike members), you must indicate that your LLC is managed by managers and list LLC managers in #4. No no. The enterprise agreement is an internal document that you should keep for future references. However, many states require by law that LCs have an enterprise agreement. It is of the utmost importance to check the availability of your name before contacting the Secretary of State of Arkansas. A search of the name database lets you make sure that the name of the company you want to use is actually available and that it is not currently registered by another company. Make sure the name contains the words Limited Liability Company or an accepted acronym (LLC, L.L.C. The details of business licenses and licenses vary from state to state. Make sure you read carefully. Don`t be surprised if short courses are needed. In this lesson, we will guide you by submitting your statutes to the state. This is the document that officially forms your Arkansas LLC.
Franchise tax is a state tax on any business that operates in Arkansas, including LCs. The revenue tax, also known as the sales and use tax, is a tax levied by states, counties and municipalities on commercial transactions involving the exchange of certain taxable goods or services. An LLC is called a “national LLC” when it operates in the state in which it was incorporated. Normally, when we refer to an LLC, we actually refer to a national LLC. A foreign LLC must be created if an existing LLC wishes to expand its operations to another state. The creation of an LLC within the State of Arkansas under Title 4, subtitle 3, Chapter 32 is classified as either foreign or domestic. The former must complete a registration form (PDF, online), while the latter must submit an organisational form (PDF, Online). Foreign companies can expect to pay a registration fee of $275 if you deposit online, or $300 with the PDF version, while domestic spinrs must provide $45 for online deposit and $50 elsewhere. Hello Laguana, if you say “Save the name of my farm”, it looks like you`re talking about an app for fictitious names, also known as DBA.
You can certainly register a DBA for your farm, but DBAs have no right to their name. If you only register “a DBA”, then you own this DBA, so you operate your farm as an individual owner and have no liability guarantee (unless you have insurance). Although they do not tell you what to do, I will tell you what most farm owners do. They create a legal entity to separate themselves from the responsibility of their company. I recommend reading two more articles on our website: Sole Proprietor vs LLC and I have to submit a DBA.