Kansas (except for banks) "association", "church", "college", "company", "corporation", "club", "foundation", "fund", "incorporated", "institute", "society", "union", "university", "syndicate" or "limited", or one of the abbreviations "co.", "corp.", "inc.", "ltd.", or words or abbreviations of like import in other languages if they are written in Roman characters or letters § 17-6002 Kansas Statutes
Some businesses are prevented from forming an LLC, however. Typically financial companies such as banks, financial trust companies and insurance agencies can't file as an LLC. LLCs are sometimes limited for industries in certain states, too. For example, if you live in California, you can't form an LLC if you're an architect, accountant or licensed health care provider. Check out our LLC information by state for more details on your state.
Minimal Compliance Requirements LLCs are subject to limited state mandated annual filing requirements and ongoing formalities. While corporations are typically required to have at least an annual meeting of directors and shareholders (and initial meeting of the same), adopt bylaws, and keep minutes of all meetings and all formal corporate resolutions, an LLC is not required to do any of those things (see the explanation of an operating agreement, above). The LLC members may have whatever meetings they wish and may document any such things as they wish, however they are not required to do so.
The articles of organization also should include information about how your LLC will be managed. You need to indicate whether the members of the LLC will do hands-on management or if there will be hired management. Another requirement is to discuss how long the LLC will be in existence (there is no limit on this, so it is fine to say in perpetuity).
The restaurant chef is not the only person that has a say on what goes on the menu. High-end restaurants often find themselves indecisive when it comes to the food they want to serve, especially as seasons change. A menu planning business is a very low-cost idea, but is perfect for those who love to work with food without any direct involvement in preparing or serving it. Many places are willing to hire a consultant to design their seasonal menus, so visit local restaurants and make them aware of your culinary skill set.
An attorney is typically not required when starting a business. A business filing service such as Swyft Filings can help you streamline the formation process, and save you a great deal of time, effort, and money. However, if you are unsure of which business structure may be right for you, or you have questions regarding specific tax or organizational issues, it may be advisable to speak with an attorney or accountant before starting a new business.
If you want to separate your personal liability from your company's liability, you may want to consider forming one of several types of corporations. This makes a business a separate entity apart from its owners, and, therefore, corporations can own property, assume liability, pay taxes, enter into contracts, sue and be sued like any other individual. One of the most common structures for small businesses, however, is the limited liability corporation (LLC). This hybrid structure has the legal protections of a corporation while allowing for the tax benefits of a partnership.
The first step in forming an LLC is to file your company’s Articles of Incorporation with the state in which you are looking to establish your business. Once this has been completed, it is recommended that you take the time to develop a formal set of documents that will explicitly outline the ownership and management structure of the business, as well as establish your initial bank accounts.
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"Many people think they have a great idea and jump into launching their business without thinking through who their customers will be, or why these people should want to buy from or hire them," Desaulniers said. "Second, you need to clarify why you want to work with these customers – do you have a passion for making people's lives easier? Or enjoy creating art to bring color to their world? Identifying these answers helps clarify your mission. Third, you want to define how you will provide this value to your customer and how to communicate that value in a way that they are willing to pay."
General liability insurance is not typically a legal requirement, but it is very strongly recommended. This policy protects your business assets from lawsuits-without it, a legal claim could force your company out of business entirely. A general liability insurance policy covers injuries, property damage, personal liabilities, advertising liabilities, and legal defense and judgment.
Undertakings for Collective Investment in Transferable Securities (UCITS) – Public limited companies formed under EU Regulation and the Companies Acts 1963–2006. Sole object of a UCIT is collective investment in transferable securities of capital raised from the public that operates on the principle of risk-spreading. Central Bank of Ireland must approve all registrations of UCITS.