Not all states require it, and some states call it by a different name.Ī limited partnership agreement is an internally binding document between all partners that defines how business decisions get made, each partner's duties, powers, and responsibilities.
It notifies the state of the partnership’s existence and contains basic business information like the company name, address, and partner names. This simple document describes the basics of your limited partnership. It's widely recommended to create one to protect yourself and your business, even if your state doesn’t mandate it.
It defines how key business decisions are made, as well as each member’s duties, powers, and responsibilities. It includes business information like the company name, address, member names, and the registered agent.Īn operating agreement describes the structure of your company's financial and functional decisions. Business structureĪrticles of organization is a simple document that describes the basics of your LLC. The documents you need - and what goes in them - will vary based on your state and business structure. Number and value of shares (if you’re a corporation).
Ownership, management structure, or directors.The information you’ll need typically includes: In most cases, the total cost to register your business will be less than $300, but fees vary depending on your state and business structure. John and Kelly’s auto repair shop is officially registered with the appropriate offices. John and Kelly’s state also requires that they provide documents to the tax board soon after registering (not all states have this requirement). They also have to pay the newspaper for the public notice. There are fees associated with the registration process (usually less than $100), but John and Kelly accounted for those costs in their original budget. They provide proof of publication to the office they registered with. They register the name of their business - what’s called a “Doing Business As” (DBA) name - with the appropriate office (the county clerk or state government, depending on where the business is located, although a few states don’t require DBA name registration).Īfter registering their DBA name - based on laws of the state, county, and town they registered in - John and Kelly publish a public notice in a local newspaper announcing their new business. Registration requirements vary by state, so John and Kelly first contact their state and local government for information about how to register their auto repair shop.īecause John and Kelly are using a fictitious name for their auto repair shop - rather than their own legal names - they are required to register their business name. Pacific Northwest region media contacts.Market research and competitive analysis.
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