A series LLC in Montana is a form of LLC that offers its owners and members certain 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 straightforward to establish your own Series LLC in Montana. 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. When name your series LLC in Montana, you are just obliged to follow typical LLC naming regulations.
Follow the Montana LLC Naming Regulations:
3. Does my company name exist in Montana? Do a name search on the State of Montana 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 name a Registered Agent for your Montana series LLC. The parent LLC’s Registered Agent must be the same for each child series.
What exactly is a Registered Agent? A registered agent is a person or corporation 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 is eligible to be a Registered Agent? A registered agent must be a Montana citizen or a company allowed to do business in Montana. You may choose someone from your organization, even yourself.
You must submit the Articles of Organization with the State of Montana to register your LLC. This is something that can be done online.
We suggest that you engage with an attorney to complete your series LLC Articles of Organization. Your attorney may submit an addendum to contain precise wording about the establishment of your kid series.
The parent LLC pays $70 to file the Articles of Organization, and each new child series pays $50.
When forming a series LLC in Montana, 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.