Start an LLC in Mississippi in 5 Simple Steps
Step 1: Give Your Mississippi LLC a Name
Step 2: Select a Registered Agent.
Step 3: Submit the Certificate of Formation.
Step 4 Create an Operating Agreement
Step 5: Obtain an EIN
It is simple to form an LLC in Mississippi.
To form a Mississippi LLC, you must submit a Certificate of Formation to the Mississippi Secretary of State, which costs $50. You may submit your application online. The Certificate of Formation is the formal legal document that establishes your Mississippi Limited Liability Company.
STEP 1: Give your Mississippi LLC a name.
The first and most critical step in forming your Mississippi LLC is deciding on a name. Make sure your name conforms with Mississippi naming regulations and is readily searched by prospective customers.
1. Follow the naming conventions:
The word “limited liability corporation” or one of its acronyms must be in your name (LLC or L.L.C.).
Your LLC’s name cannot include terms that may be confused with a government organization (FBI, Treasury, State Department, etc.).
Restricted terms (e.g., bank, attorney, university) may need extra documentation and the participation of a licensed professional, such as a doctor or lawyer, in your LLC.
STEP 2: Select a Mississippi Registered Agent
You must choose a Mississippi registered agent for your LLC.
What exactly is a Registered Agent? A registered agent is a person or corporate organization that accepts vital legal papers on your behalf. Consider your registered agent to be your company’s point of contact with the state.
Who is eligible to be a Registered Agent? A Registered Agent must be a Mississippi person or an organization, such as a registered agent service, that is permitted to do business in Mississippi. You may choose someone from your organization, even yourself.
STEP 3: Submit the Mississippi LLC Formation Certificate.
You must submit the Certificate of Formation with the Secretary of State to register your Mississippi LLC. This is something that can be done online.
NAICS Requirement in Mississippi
When you file the Mississippi LLC creation forms, you will see that you must provide your NAICS code. The North American Industry Classification System (NAICS) is a collection of 6-digit numbers assigned to businesses based on the sort of commerce they participate in.
STEP 4: Draft an Operating Agreement for a Mississippi LLC.
An operating agreement is not necessary when creating an LLC in Mississippi, but it is a good practice to have one.
What exactly is an operating agreement? An operating agreement is a legal document that outlines an LLC’s ownership and running processes.
Why are operating agreements necessary? A detailed operating agreement guarantees that all firm owners are on the same page and decreases the likelihood of future disagreement.
STEP 5: Obtain an EIN
What exactly is an EIN? EIN is an acronym that stands for Employer Identification Number. EINs are nine-digit numbers provided by the Internal Revenue Service (IRS) to companies to assist them be identified for tax reasons. It is basically a business’s Social Security Number.
An EIN is also known as a Federal Employer Identification Number (FEIN) or a Federal Tax Identification Number (FTIN) (FTIN).
Why do I need an EIN? An EIN is necessary in order to:
Establish a business bank account.
Filing and managing federal and state income taxes
Employ people
What if my single proprietorship already has an EIN? When transitioning a sole proprietorship to an LLC, the IRS demands a new EIN.
Where can I get an EIN? The IRS will provide you an EIN for free. Obtaining an EIN is a simple procedure that may be completed online or by mail.