Louisiana LLC

Louisiana LLC

Form a Louisiana LLC

At LawInc we are Louisiana LLC formation experts who can help you form a Louisiana LLC, the right way. We file the Louisiana LLC Articles of Organization with the Louisiana Secretary of State Corporations Division and prepare a customized operating agreement. We can also obtain the Louisiana LLC’s EIN, in an quickly as 24 hours. Let LawInc guide you through the process of forming your Louisiana LLC.

Let LawInc walk you through the Louisiana Limited Liability Company formation process. Our clear, concise and easy to use website, helps keep things simple.

Louisiana LLC Name

The first step in forming a Louisiana Limited Liability Company (LLC) is selecting the business name. Louisiana LLC names:

  • Must contain the words must contain the words “Limited Company” or “Limited Liability Company” or the abbreviation “L.C.” or “L.L.C.”
  • The name of a Louisiana LLC must be distinguishable on the records of the Louisiana Sec. of State.

An available Louisiana LLC name may be reserved for 60 days.

LawInc.com permits you to choose up to three names and will conduct a name search for your Louisiana LLC, prior to filing.

Louisiana LLC Formation

Louisiana LLC Filing Procedure: When forming a Louisiana LLC, the Louisiana Articles of Organization must be filed with the Louisiana Secretary of State. The Louisiana Articles of Organization must state:

  • The Louisiana LLC name.
  • Name and address of each Louisiana LLC organizer.
  • Street address of Louisiana registered agent.
  • Street address of principle place of business.

Louisiana LLC Organizers: An Louisiana limited liability company can be formed by one (1) or more organizers.

Louisiana LLC Members: Louisiana LLCs require 1 or more members. There is no residence or age requirement. Louisiana LLC members are not required to be listed in the Articles of Organization.

Louisiana LLC Duration: The period of duration of a limited liability company shall be perpetual unless the Louisiana Articles of Organization place a limitation on the company’s existence or until dissolution or termination.

Louisiana LLC Purpose: A Louisiana Limited Liability Company may be organized to conduct any lawful purpose, unless a more limited purpose is stated in its Articles of Organization. A Louisiana LLC may not be formed for the purpose of insurance underwriting in all of its several forms.

Louisiana Registered Agent: An Louisiana LLC must maintain a registered agent and office to receive service of process in Louisiana. The Louisiana registered agent should be available, at an Louisiana physical address, during normal business hours to accept important legal and tax documents on behalf of the Louisiana LLC. The registered agent can either be (1) a domestic entity or a foreign entity that is registered to do business in Louisiana or (2) an individual resident of the state. A Louisiana LLC may not act as its own agent. Additionally Section 12:1319 of the Louisiana Limited Liability Law requires that the Louisiana LLC maintain certain records at its registered office.

Louisiana LLC Operating Agreement: After filing, it is highly advised that an operating agreement is drafted which dictates the LLC internal affairs and management. There is no set criteria, but an Louisiana LLC operating agreement should reference how the Louisiana LLC is managed, allocation of profits and losses and member capital contributions. The Louisiana LLC operating agreement does not need to be filed.

Louisiana LLC Post-Filing Requirements

Louisiana LLC Annual Report: Louisiana LLCs are required to file an Annual Report. The Louisiana LLC Annual Report is due on the anniversary of the Louisiana LLC filing date. The filing fee is $25. For more information, visit: http://www.sos.la.gov

Louisiana LLC Taxes

Louisiana State Income Tax: The LLC tax rate for Louisiana is variable, depending on Louisiana taxable net income.

Federal Income Tax: An advantage of the LLC is its tax flexibility. LLC members are allowed to select how the entity will be taxed. An LLC may be classified for federal income tax purposes as either a:

  • Sole proprietorship
  • Partnership, or
  • Corporation.

Single member LLCs are treated the same as sole proprietorships. Profits are reported on Schedule C as part of your individual 1040 tax return. Self-employment taxes on Louisiana LLC net income must be paid just as you would with any self-employment business.

Most Louisiana multi-member LLCs elect to be treated as partnerships by the IRS and file IRS Form 1065. On this form, Louisiana LLC profits are reported and allocated to each of the owners according to the Louisiana LLC’s operating agreement. Each owner is given a Schedule K-1, which shows each owner’s share of LLC income or loss. The owner then reports and pays taxes on this income on the owner’s annual 1040 income tax return. It is important to note that as with sole proprietorships, all Louisiana LLC profits are taxed to the owners, even if they are not actually distributed by the LLC. This situation can arise when the LLC needs to use its profits to pay ongoing expenses.

If pass-through taxation is not desired, an LLC may elect to be taxed as a corporation by completing IRS Form 8832. If this election is made, the LLC is taxed as a C corporation by the federal government. Because the corporate income tax rates for the first $75,000 of corporate taxable income are lower than the individual income tax rates that apply to the taxable income of non-corporate taxpayers, it is possible a net income tax savings can result from this tax election. Additionally, an LLC can be taxed like an S corporation by filing IRS Form 2553.

Federal Tax Identification Number/Employer Identification Number (EIN): The Federal Tax Identification Number, also known as the Employer Identification Number (EIN) is a number that is assigned to a business by the Internal Revenue Service. An EIN is like a Social Security Number for a business. It is a requisite for certain business functions such as opening bank accounts or hiring employees. An EIN is typically required if the Louisiana LLC has more than one owner, or any employees.

Louisiana LLC Dissolution/Cancellation

Louisiana LLC Dissolution/Cancellation: In order to dissolve or cancel an Louisiana LLC, the members or managers must file a notarized Affidavit to Dissolve Limited Liability Company with the appropriate filing fee by mail or fax. Online filing is also available. To file online, visit http://www.sos.la.gov.

Acts Triggering Louisiana LLC Dissolution: A Louisiana LLC can be dissolved upon the happening of one of the following:

  • At a time specified in the Articles of Organization or operating agreement;
  • Upon occurrence of events specified in the Articles of Organization or operating agreement;
  • Consent by the specific number or percentage of members indicated in the operating agreement;
  • At any time there are no members; or
  • Judicial decree to dissolve by a Court.