A series LLC in Kansas is a form of LLC that offers its owners and members unique liability and tax advantages. The series LLC is made up of a master LLC and one or more sub-series that branch out of it.
It is not difficult to establish your own Series LLC in Kansas. It’s easy with our step-by-step instructions!
An illustration of how a series L L C permits its members to split a “parent” L L C’s assets and activities into a number of “child” series.
You should know the answers to the following questions before naming your series LLC:
1. Series LLC name regulations differ per state. In Kansas, typical LLC naming regulations apply, and the child series name must include the complete name of your LLC and be recognizable from other names in the series.
Once your articles of organization are finished, you must also submit a Certificate of Designation (a document that records the name of the child series) for each child series.
Follow the Kansas LLC Naming Regulations:
2. Consider the following basic guidelines for making the titles of your series more identifiable, unified, and clear:
3. Does my company name exist in Kansas? Do a name search on the State of Kansas website to ensure that the name you choose isn’t already used.
Is my company’s name accessible as a URL? We propose that you investigate if your company’s name is accessible as a web domain. Even if you don’t intend to create a company website right away, you may wish to purchase the URL to prevent others from doing so.
You must appoint a Resident Agent for your Kansas series LLC. In some states, a Resident Agent is known as a Registered Agent. The parent LLC’s Resident Agent must be the same for each child series.
What exactly is a Resident Agent? A resident agent is a person or company that agrees to deliver and receive legal documents on your series LLC’s behalf. Service of process of legal action (if you are sued) and state filings are examples of such paperwork.
Who may work as a Resident Agent? A resident agent must be a Kansas resident or a company allowed to do business in Kansas. You may choose someone from your organization, even yourself.
You must submit the Articles of Organization with the State of Kansas to register your series LLC. This may be done online or in the mail.
For assistance with submitting your series LLC Articles of Organization, we recommend talking with an attorney.
Once your articles of organization have been registered, you must submit a Certificate of Designation (a document to record the name of the child series) for each child series.
The filing fee for the Articles of Organization is $250.
The Certificate of Designation costs $100 per child series to file.
When forming a series LLC in Kansas, an operating agreement is necessary. The operating agreement is not required to be registered with the state.
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? The operating agreement for a series LLC is crucial since it sets the liability restrictions (asset protection) of the individual series.
What exactly is an EIN? A corporate entity is identified by its Employer Identification Number (EIN) or Federal Tax Identification Number. Each of your series LLC’s offspring series will need an EIN.
Why do I need an EIN? An EIN is necessary for the following activities:
How can I get an EIN for my LLC series? The IRS does not have precise procedures for obtaining an EIN for a series LLC’s child series. For each subsequent EIN, experts recommend utilizing the name of your series LLC coupled with the name of the child series.