MO LLC- Make Sure You Meet these 6 Rules for a Missouri LLC
Every year, more than 30,000 limited liability companies are started in Missouri. MO LLC is the most often used legal entity by new business owners in the state.
Many attempt to form one only to find out that their filing is defective in some way because it does not meet the requirements of the Missouri Limited Liability Company Act. Even worse, others might be able to get a filing processed by the state but find out later there was something incomplete or noncompliant with MO LLC legal requirements.
You want to avoid any of these problems as they can cause you significant liability and problems later in your business life. This Article summarizes the 6 requirements for an LLC formation filing under Missouri LLC laws.
NAME OF MISSOURI LLC
Specific requirements are set forth in Section 347 for a Missouri LLC name. First, the name must have an LLC designation tail. Second, the name must be different and uniquely distinguishable from any other recorded names in the state. You should perform a name search before you submit your filing.
STATEMENT OF PURPOSE
The filing must include a statement of the proposed LLC's purpose. A general statement provision is allowed by the state of Missouri, and a standard language provision is acceptable. The statement of purpose for most Limited Liability Companies should be kept broad to avoid limiting the authority of the business in the future.
REGISTERED AGENT
The Missouri Limited Liability Company Act requires each MO LLC to officially have a designated registered agent, along with an address. Your registered agent has to be a person residing in Missouri, or a legal entity that was created or registered in the state. The address can differ from the principle address of the company.
MANAGEMENT
By default, a Limited Liability Company in Missouri is member managed. Those wishing for a MO LLC to be manager managed should make sure that their formation filing reflects this.
DURATION
Duration is no longer the sensitive matter it once was because of tax issues. Since 1997, the IRS simplified LLC taxes and made no requirements relating to the LLCs life span. Because of this, Missouri and most other states now allow LLCs to have perpetual existence. However, you should know that Missouri requires a specific statement of duration in the filing documents.
FILING THE EFFECTIVE DATE
Finally, the Missouri Limited Liability Company Act requires that a stated effective date for the legal entity be included in the filing. Most choose the same day the documents are processed but you can choose a date in the future as long as it is no longer than 90 days out from the filing submission date.
CLICK HERE for a FREE Report about the Benefits of a MO LLC and a Free Missouri LLC Name Search
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