This set of default rules is extremely broad, however, and is unlikely to offer your company much protection at all. If you don’t have an operating agreement, the guidelines, policies, and regulations that apply to your business fall to the state of Ohio. If a dispute or conflict arises, you can easily refer back to the operating agreement to clarify things and potentially resolve the matter. This potentially could place your personal liability or the liability of your LLC’s members in jeopardy.Įven if your LLC’s members have made verbal agreements regarding specific terms, it’s important to have these in writing to avoid miscommunication or misunderstandings. If you do not have an operating agreement that designates members of the LLC and defines their roles and responsibilities, your company may function more like a partnership or sole proprietorship. However, hiring a designated statutory agent means that it will be their physical address on public record.Īdditionally, some business owners hire statutory agents to ensure that someone is available for official contact during traditional business owners, so the owners themselves can enjoy irregular or less frequent work hours.Īn operating agreement may offer protection for members of the LLC from personal liability. This may or may not be a concern for your business. This means your home address will be on public record for individuals and entities that want to send official correspondence to your company. For example, if you name yourself as the statutory agent for your business, you may need to list your home address as the point of contact for your company.
#Ohio business license llc vs inc professional#
It may be more beneficial to hire a professional statutory agent.
However, this may not necessarily be in your best interests or the best interests of your company. Name Your LLC Choose a Registered Agent File the OH Articles of Organization Create an LLC Operating Agreement Get an EIN. Related: Comparison of Business Entities. Learn more about the differences between the sole proprietorship, general partnership, corporation, and Limited Liability Company (LLC). To do so, they would simply file the appropriate form with the Ohio Secretary of State with their own name instead of the name of someone else who would serve as the statutory agent. Before applying for any licenses, the business structure will first need to be established. For a DBA to be printed on your license, you should use the BUS-APP line 2 for new businesses or new locations, and the BUS-RBL line 3 for existing locations. All other DBAs are recorded as trade names and can be reported using a Schedule DBA. Business owners or managers within the business can name themselves the statutory agent of the company. Note: Only one DBA will print on your license.
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