South Dakota Registered Limited Liability Partnership Application Form

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Control #:
US-P1205-11AM
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This form is a Registered Limited Liability Partnership Application Form. Adapt to fit your circumstances. Available in Word format.

The South Dakota Registered Limited Liability Partnership Application Form is a document designed specifically for businesses and individuals in South Dakota who wish to register their limited liability partnership (LLP). This form is an essential step in the process of establishing an LLP and legally protecting the partners involved. When filling out this form, you will primarily be required to provide information about your LLP, its partners, and its business activities. It typically includes sections for the following details: 1. LLP Information: Provide the legal name of your LLP, along with the principal office address and any additional addresses of your LLP, if applicable. This section also covers the effective date of registration and the duration of the LLP's existence. 2. Statutory Agent: Indicate the name and physical address of the statutory agent appointed to receive legal notices and important documents on behalf of the LLP. The statutory agent must have a physical address within South Dakota. 3. Partner Information: Furnish the full legal names, addresses, and contact information of all partners involved in the LLP. This section may require you to attach an additional sheet if there are more partners than the provided spaces. 4. Business Activities: Briefly describe the nature of your LLP's business activities, highlighting the primary services or products offered. This helps the state authorities understand the industry your LLP operates in. 5. Authorized Signatory: A section dedicated to the authorized signatory must be completed, requiring their full name, address, and contact details. The authorized signatory has the legal right to sign the application form on behalf of the LLP. 6. Filing Fee: Determine the applicable fee for filing the South Dakota Registered Limited Liability Partnership Application Form. This varies depending on the number of partners in the LLP and the type of filing being made. Types of South Dakota Registered Limited Liability Partnership Application Forms: 1. Initial Registration Form: This is the primary form for entities applying to become a registered limited liability partnership in South Dakota for the first time. It collects all the necessary information required to initiate the LLP's registration process. 2. Amendment Form: If there are any changes to the LLP's registered information, such as a change in partner details, business activities, or the statutory agent, an amendment form must be submitted to update the records. This ensures accurate and up-to-date information about the LLP. 3. Dissolution Form: In cases where the LLP decides to dissolve its operations in South Dakota, a dissolution form must be filed. This form confirms the LLP's intention to cease its business operations and provides relevant information for proper record-keeping and closure of the LLP. 4. Statement of Withdrawal: If a partner wishes to withdraw from the LLP, a statement of withdrawal form is required. This form notifies the state authorities about the partner's decision and ensures the LLP's legal records reflect the change in partnership. Filling out the South Dakota Registered Limited Liability Partnership Application Form correctly and thoroughly is vital for maintaining legal compliance and obtaining the official LLP registration in South Dakota. It is recommended to review the instructions provided with the form and seek professional guidance, if required, to ensure accurate completion of the document.

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General partnership (GP) Any profits and losses from the partnership are taken into account on the individual partners' income tax returns while the business itself often pays no separate income tax. Because South Dakota has no individual state income tax, tax liability for partnerships may be delightfully small.

How do you dissolve/terminate a South Dakota Limited Liability Company? To dissolve/terminate your domestic LLC in South Dakota, you must submit the completed Articles of Termination form to the South Dakota Secretary of State by mail or in person and in duplicate along with the filing fee.

In South Dakota partnerships are generally taxed as pass-through entities, meaning the profit and losses from the businesses pass directly into the partners' personal incomes.

Two Ways to Start A New Business in South Dakota Define your business concept. Draft a business plan. Choose a business name. Fund your startup costs. Choose a business structure. Register your business with the South Dakota Secretary of State. Get your business licenses. Set up a business bank account.

LLC members' income is taxed at the federal self-employment tax rate of 15.3% (12.4% for social security and 2.9% for Medicare). South Dakota does not levy state personal or corporate income taxes, though the LLC will most likely need to pay state sales and local taxes, as well as industry-specific taxes.

The first step is to file a form called the Amended Articles of Organization with the Secretary of State and wait for it to be approved. This is how you officially change your LLC name in South Dakota. The filing fee for the Amended Articles of Organization in South Dakota is $60.

South Dakota does not impose a corporate income tax. If you have questions regarding your federal tax return, please contact the Internal Revenue Service (IRS) at (800)829-1040 or visit their website at .

Partnerships file an information return to report their income, gains, losses, deductions, credits, etc. A partnership does not pay tax on its income but "passes through" any profits or losses to its partners. Partners must include partnership items on their tax or information returns.

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Foreign Limited Liability Companies: Foreign Forms are used by organizations whose state of incorporation is NOT South Dakota. Application for Certificate of ... Mar 1, 2022 — Planning to form a limited liability partnership in SD? Learn here the complete info about the requirements and benefits in forming a LLP in ...There are different types of partnerships available in South Dakota. Find out more about how they differ including how partnerships are taxed, ... If you wish to file electronically, we accept Visa, MasterCard, Discover, or American Express debit or credit cards. Customers who do not wish to ... Step One) Choose an LP Name. Whereas the state of South Dakota allows general partnerships to operate under the individual names of the partners, that is not ... Select all license types that apply to your business. Business Tax Licenses. Contractors' excise tax license (ET): A contractors' excise tax license is required ... It combines the limited liability of a corporation with the flexibility and lack of formalities provided by a partnership or sole proprietorship. Any business ... Nov 1, 2023 — Have you been thinking about starting a South Dakota LLC? From the formation process to filing taxes, this guide has what you need. Oct 31, 2023 — Consequently, the owner assumes personal liability for all debts and obligations incurred by the business. Establishing a sole proprietorship in ... The registration of the Partnership Fictitious Name Certificate: Affords exclusive right to that name in the State of North Dakota. No other business may ...

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South Dakota Registered Limited Liability Partnership Application Form