There are more than 500,000 small businesses in Missouri, and that number is growing every day. As more people learn how to create an LLC in Missouri, they launch successful businesses in the state.
If you’re going to learn how to form an LLC in Missouri, it’s a good idea to know about a Missouri operating agreement, too. Doing so will enable you to run a successful and compliant business.
Learn how to form an LLC in Missouri below and download an LLC operating agreement template.
Is an LLC Operating Agreement Required in Missouri?
An LLC operating agreement is required in Missouri. Otherwise, you will not be able to legally form your LLC. This goes for all types of LLCs that you might want to form.
Missouri Operating Agreement Laws
Since Missouri law states that LLCs have to have an operating agreement in place, it’s no surprise that there are some laws surrounding them. Even though you don’t formally file your operating agreement, you still need to adhere to Missouri law when writing it. We’ve outlined the most notable laws below but you can read all the laws in § 347.081.
The operating agreement must outline the rights and duties of the members and each member’s percentage of ownership of the LLC.
Operating agreements in Missouri cannot unreasonably limit those rights, however. And, they must adhere to fair dealing and good faith laws.
How Much Does it Cost to Form an LLC in Missouri?
You’ll have to pay a $50 filing fee online or $105 on paper when you file your articles of incorporation with the Secretary of State.
Keep in mind that if you’re starting a foreign LLC, your costs will be higher. In that case, you’ll have to pay $105 to launch your company. You can also pay an optional $25 fee to reserve your LLC name.
How to Form an LLC in Missouri?
Here are the steps you’ll need to take to launch your LLC in the state:
Step 1 – Choose a Name
The first step to creating an LLC in Missouri is to select a business name. Remember, your business name must include either the words “limited liability company” or an abbreviation such as ‘LLC’, ‘L.L.C.’, ‘LC’, or ‘LLC’.
Your business name cannot be a duplicate of a currently existing business name. You can check on the Missouri State website to see what business names already exist and to make sure yours is unique.
Step 2 – Select a Registered Agent
In order to set up your business and file your articles of incorporation, you’ll need to find a registered agent. Registered agents are important because they handle service of process and can assist with filing and compliance of certain documents for the business.
In Missouri, a registered agent can either be an individual or a business entity. If it’s an individual, they have to be a resident of Missouri. If it’s a business entity, the entity has to be legally authorized to conduct business in Missouri.
You can usually find a list of companies and individuals who work as registered agents online. Doing so makes it much easier for your business to choose someone for the job.
Step 3 – File Your Articles of Incorporation
With your registered agent in place, you’re ready to file your articles of incorporation. You can do this either online or by mail by filling out a form and sending it to the Missouri Secretary of State.
At the time that you file your articles of incorporation, you’ll need to include your filing fee. If you’re registering online, you’ll be able to make your payment virtually at the time of filing.
Step 4 – Create Your LLC Operating Agreement
After you file your articles of incorporation, you need to sit down and create your LLC operating agreement. You need to include a few key pieces of information here, including:
- Members’ rights, duties, and responsibilities
- The name of your LLC
- How your LLC plans to operate
- How you will handle meetings and voting
- What will happen in the event that a member forfeits or sells their rights to the LLC
The more detailed you can be, the better. That’s because greater detail means greater protection if you’re ever challenged in a court of law.
Step 5 – Get an EIN
Last but not least, you need to get an EIN for your company. An EIN is an employer identification number that you can obtain for free from the IRS website.
Getting an EIN is important because it allows you to hire employees, open a business bank account, and take out business loans. Keep in mind that if you’re a single-member LLC, you can simply use your social security number.
Missouri LLC Operating Agreement Template
Download a Missouri operating agreement template in PDF or Word format below: