As an economically developed state, anyone could imagine how popular Missouri is to many aspiring entrepreneurs. However, along with its leverages comes mandatory expenses should you choose to form your business under its jurisdiction. Fortunately, our business specialists decided to tackle all Missouri LLC fees to help you manage your finances ahead of time.
Formation Costs for a Missouri LLC
Business Name Reservation
Reserving your chosen LLC name is only an optional part of Missouri LLC fees. Technically, you can apply for a specific trade label upon filing your articles of organization as long as the said name isn’t taken by any operating businesses.
However, if you can’t proceed with your application yet, you can request to reserve the LLC name for 60 days if you pay a $25 reservation fee. You can also renew your rights twice with the same amount. But, if that’s not the case, our experts highly advise going ahead with the registration process.
Articles of Organization
It’s a no-brainer that the initial filings you’ll be tasked to do to form an LLC are submitting your company’s articles of organization. Through this submission, the secretary of state will record all submitted information and regard your business as a legal entity.
This procedure includes a processing fee amounting to $50 for online filing and $105 if sent through the mail.
Operating Agreement
Crafting an operating agreement for your LLC may not be mandatory, but it offers perks that any trade experts like us could confirm. With this internal document, the regulations about ownership and management rights are clearly defined to avoid future conflicts.
Although creating operating agreements are typically free and customizable, ensuring their legal comprehensiveness may require you to hire professional services.
EIN Registration
Besides submitting formation documents, applying for a federal employer identification number (EIN) is a mandatory procedure to be identified as a legal business entity. This nine-digit code, acquired for free from the IRS, is often used for tax filings, bank transactions, and hiring employees.
Registered Agent
As the representative responsible for handling notices and demands from the state, selecting a registered agent is definitely crucial for your business. While you can opt to act as a registered agent yourself, managing business filings isn’t as easy as you think.
To lessen the chances of missing compliance deadlines, we recommend hiring professional companies as your registered agent service provider. These providers offer accurate and swift services costing around $0 to $300.
Business License/s
Before your company could legally operate, you also have to apply for specific licenses and permits required by local, state, and federal government, depending on your business transactions. In addition, for some companies providing professional services, there are licensing requirements you must pass before being granted operation rights.
Certificate of Good Standing
Admit it or not, operating a business could involve transacting with banks and lending companies. These procedures will oblige you to provide your LLC’s Certificate of Good Standing as proof of compliance with the state. You can obtain this document from the SOS by paying a $10 processing fee.
Other Taxes
As a Missouri LLC, you’re automatically treated as a pass-through entity. This taxation status meant that you wouldn’t be imposed on corporate tax returns. However, you’ll still need to pay certain taxes depending on your business transactions. You can check the Missouri Department of Revenue for specific classifications [1].
Foreign LLC Registration
All existing businesses expanding in Missouri must file an Application for Registration online for $50 or via print and mail copy for $105. Failure to accomplish this requirement will result in hefty penalties and compliance risks.
LLC Formation Services (Optional)
If you find the entire registration process overwhelming, you can seek assistance from LLC formation services. These professionals have the extensive industry experience to form your business entity swiftly and accurately. However, signing up for their service packages could cost you $0 to $300.
Missouri Annual LLC State Fees
There are no mandatory LLC periodic filings required in the state of Missouri, which is why you also don’t have to worry about any recurring processing fees to renew your business entity.
(To assist you on the challenges of business formation, we have the best online incorporation services listed for you)
Overall Costs
With no annual report fees, the overall estimated costs of forming a Missouri LLC are around $50 if you file your registration online and $105 when submitted through the mail. The LLC formation cost calculation excludes taxes and professional services.
FAQ
How much does it cost to get an LLC in Missouri?
The cost to get an LLC in Missouri is around $50 for online filings and $105 for mail submissions. These estimated expenses only include the official registration of your articles of organization. In addition, annual fees include availed professional services and taxes that solely depend on the nature of your business.
Conclusion
While it’s true that Missouri LLC fees are more low-cost than other states, complying with these mandatory requirements still demands time and consistent effort. Our trade enthusiasts assure you that following this guide will bring more advantages than inconveniences for your business in the long run.
