Ohio LLC
For Ohio LLC prices and State fees, please visit the costs page for forming an LLC in Ohio.
A Ohio Limited Liability Company combines the favorable taxation of a partnership and the limited liability of a corporation. Ohio LLC Formation separates the member/owners from the business liability and is regarded as a separate legal entity. A single member Ohio LLC can be taxed as a corporation or disregarded entity (for taxation) due to some IRS rules and regulations regarding single owner LLC’s. Multiple owner LLC’s may choose to be taxed as a partnership or a corporation seek the advise of a financial professional for what applies to you. You can contact Companies Incorporated to find out more about LLC’s by calling (800) 830-1055.
Ohio llc formation creates a separate legal entity that shields the owners of the business from liability, debt and contractual obligations, the business is viewed as a separate "person" that is responsible for the Ohio LLC liabilities. In order to maximize the protection the company can provide, it must be operated correctly. Examples of these formalities include filings to maintain standing with the Ohio State Office, as well as operational formalities, such as not commingling personal and company funds and documenting business decisions made by the officers in annual meeting minutes of the shareholders. For more information on Ohio Limited Liability Company, you can call Companies Incorporated at (800) 830-1055.
A Ohio LLC is a "pass through" tax entity. This means that the profit and losses of the company are passed on to those who own it and reported on their personal tax filings / returns. The Ohio Limited Liability Company does not pay business taxes at the company level, any tax due is paid at the individual level of the owners. Ohio llc formation has tax advantages that include the option to have the company taxed as a corporation, otherwise it is taxed as a partnership or sole proprietorship, however the need to file itemized business deductions, or a schedule K-1, is unnecessary. For more information on Limited Liability Companies, call Companies Incorporated at (800) 830-1055.
