Here are a couple of examples of a general statement of purpose: Some states want general statements while others want specific ones. Create a statement of purpose for your LLCĪ statement of purpose describes the primary purpose of your business and is required by most states. There are some restrictions on the names you can choose, again state-specific and you may not be able to use words like “university” or “bank.” Most states will require that you include “LLC,” “Limited Liability Corporation,” or something similar at the end of your LLC’s name. Because LLCs are state specific, you can search through your Secretary of State’s website or by using the search function on LegalZoom. Your name can be just about anything, but remember that it is a representation of you and your business. Pick a name for your LLC and confirm that it’s available Using LegalZoom to set up an LLC is really pretty easy and just takes seven simple steps. Listen to Episode 7: Do I Need an LLC for my Online Business? to learn more. It tells clients and customers that you are taking things seriously. There’s also something a little more official about having the letters “LLC” behind your business name. You should be keeping your income separate, reporting your business income, and treating your side hustle like it really is a real business – setting up an LLC using LegalZoom can help you. If you’re side hustling, like running Facebook ads for small businesses or blogging, you are a business owner. For example, if there are debts or lawsuits against your business, you generally won’t be personally responsible for them, your business will be. Why you need an LLC for your online businessĪgain, an LLC provides some separation between your personal and business liability, in turn protecting your personal assets. Learn more about what LegalZoom can offer your business. They’re also generally much less expensive than using a business attorney, and the turnaround time can be pretty quick. You don’t need to be tech savvy or have the legal experience to use LegalZoom, and that’s a big plus for many people, including business owners like you, who need to set up an LLC. You can use LegalZoom for all sorts of legal needs, from fully forming an LLC to patent paperwork, living wills, and prenups. LegalZoom is an online legal technology company that offers a variety of legal services for people who want convenient and affordable options for using an attorney. Fortunately, using LegalZoom to start your LLC will alleviate some of the stress and time so that you can do more of what you love. It’s not the most exciting job, but it’s a necessary thing for business owners to do. Setting up an LLC (Limited Liability Corporation) is an important business task that will separate your business liability from your personal liability.
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