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Whether you own an LLC, Corporation (profit, non-profit or professional corporation) or Limited Partnership (LP, LLP, LLLP), you must complete an annual registration with the Secretary of State Office every year your business is in operation. To register, you'll visit the Georgia Corporations Division website.
A member of the LLC should have an ethical responsibility to meet the obligations of the firm. They should have duty of care.
The main reason people form LLCs is to avoid personal liability for the debts of a business they own or are involved in. By forming an LLC, only the LLC is liable for the debts and liabilities incurred by the businessnot the owners or managers.
Georgia state law requires all Georgia corporations, LLCs, nonprofits, LPs, and LLLPs to file a Georgia Annual Registration (annual report) each year with the Georgia Secretary of State, Corporations Division.
Georgia Annual Report Information. Businesses and nonprofits are required to file annual reports to stay in good standing with the secretary of state. Annual reports are required in most states. Due dates and fees vary by state and type of entity.
Georgia does not require LLCs to have operating agreements, but it is highly advisable to have one. An operating agreement will help protect your limited liability status, prevent financial and managerial misunderstandings, and ensure that you decide on the rules governing your business instead of state law by default.
All corporations that own property or do business in Georgia, or that have income from Georgia sources are required to file a Georgia income tax return Form 600.
Those LLC members who operate the business owe the fiduciary duties of loyalty and reasonable care to the non-managing LLC owners. Depending upon your state, LLC members may be able to revise, broaden, or eliminate these fiduciary duties by contract or under the conditions of their LLC operating agreement.
In Georgia, an annual registration (also known as an annual report) is a regular filing that your LLC must complete every year to update your business information, including: Company address. Registered agent name and address.
How to form an LLC in GeorgiaStep 1: Choose a name for your LLC.Step 2: Choose a registered agent in Georgia.Step 3: Obtain Georgia business permits.Step 4: File articles of organization and transmittal form.Step 5: Draft an LLC operating agreement.Step 6: Pay taxes, and comply with other state requirements.More items...