Forming an LLC is as simple as it seems and you will also stand the chance to get an EIN/Federal Tax ID which means (Employer Identification Number) which is recommended whenever you’re starting an LLC.
There are many ways to form an llc and we are also going to recommend the cheapest way to form an llc too.
When you setup an LLC, you’re probably registering a business in the United States.
However, in this guide, we will let you steps to forming an LLC with the LLC Full form.
Forming an LLC
Before you form an llc, you should choose a state, where you want to form your llc and it determines the annual tax fee you’re going to pay.
We recommend that you don’t form your llc in states like Delaware and California because they charge $500 and $800 annual tax fee respectively with another expensive state filling fees.
We have researched and found a particular state to be budget friendly to register your llc and that is Kentucky.
- $15 Annual Tax Fee.
- Cheap State Filling Fees.
However, if you’re to form your llc online using any random llc formation company, you will need to spend over $600 – $1000 forming an llc.
Meanwhile, in this guide, we will guide you in the process of forming your llc with only a $178 budget and that includes your LLC (Limited Liability Company) and EIN/Federal Tax ID.
For that to happen, we are going to form our llc in a state called Kentucky and with the help of Inc Authority.
How to Form an LLC in Kentucky (LLC Full Form)
Kentucky is a nice state to form your llc and if you’re probably forming an llc for the purpose of setting up a stripe account then it’s also a good idea.
At IncAuthority, you’re going to form your LLC and get your EIN/TAX ID. Follow the simple guidelines below to complete the signup. It’s easy and takes just few minutes. All you have to do is choose your state, enter your business name and form your LLC!
Step 1: Go-to IncAuthority.com
When you arrive at IncAuthority.com, click on the start now for free tab.
Step 2: Select Entity Type and Filling State.
In your entity type, select Limited Liability Company (LLC) and in the Formation State, select Kentucky.
Click on Save & Continue.
Step 3: Enter Your Personal Details
In this step, enter your First and last name, email and contact phone number.
You’ll need a US Phone number, don’t use the one on the picture, download DINGTONE via PlayStore or Apple store and buy a US Phone Number at $4.99/yr.
Click on save and continue.
Step 4: Enter Your Business Details
Enter your business name and business description (if you have a clothing online store, say you have an online and you sell clothings and apparel).
A brief description of your company, a sentence or two describing your business.
Select your business benefit and click save & continue.
Step 5: Business Address
You need a US Address to continue in this step, go-to Shipito.com and signup.
You’ll get a US address instantly, use it and continue your signup. Takes just 1 minute.
In your US Address, note that CA means California.
Step 6: EIN/Federal TAX ID
The interesting part about IncAuthority is they get an EIN for you at $49, which is considered as the cheapest place to get one. Others charge from $95 and above.
You need to include the EIN/Federal Tax ID which is very important!
Click save and continue.
Step 7: Operating Agreement
Operating agreement is important because it provides proof you own the business.
In case any problem occurs in future, you can be able to correct them with your operating agreement and in case Stripe requires it.
Select the operating agreement and proceed with the form.
Step 8: Addons
The next pages contains Addons and they include the following:
- INC Protection Advisor. $27/month.
- LawSuit Protection. – $99.
- Express Delivery – $49.
- Domain Name – $29.95
- Business License Package – $99
All these ad-dons are not important, so you can skip all of them until you get to the payment stage.
Step 9: Make Final Payments
At the end, you’ll only be paying for State Filling Fee, EIN and Operating Agreement.
Other formation companies charge a lot for offering this service but IncAuthority Charges $0 Service fee.
Now you need to make payment using either Debit/Credit Card or PayPal.
For the Delivery Option, you can select $0 free delivery (Electronic Delivery) and they will be delivered to your email.
Finally, that is all. You’ve successfully created your LLC Business Name and EIN/Federal Tax ID.
After following the above guidelines, you will be able to form an LLC for your business without any glitches of any kind.
Having any troubles or any questions, drop them in the comment box.
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