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By Katherine Johnson
Every year, more than 30,000 limited liability companies are started in Missouri. MO LLC is the most often used legal entity by new business owners in the state.
Those trying to form an LLC may discover after the fact that their filing does not meet the requirements laid out in the Missouri Limited Liability Company act. Even having a filing processed is no guarantee for business owners, since sometimes a filing already processed by the state may still turn out to be incomplete or noncompliant with the MO LLC act.
It pays to try to stay out of the legal turmoil and liability that can ensue in such a case. Summarized below are the 6 requirements specified by Missouri LLC laws for the filing of an LLC formation.
MISSOURI LLC NAME
Section 347 sets forth specific requirement for a MO LLC name. For one it must include an LLC designation at the end and two it must be distinguishable from other names of record with the state. Always perform a name search prior to submitting a filing.
PURPOSE OF MO LLC
The purpose of your LLC must be stated in your formation documents. There is a provision allowing your to utilize general statement in standard language. Most businesses would do best to keep the language in the statement of purpose broad so your enterprise's authority will not be restricted as it grows and changes over time.
AGENT FOR A MO LLC
The Missouri Limited Liability Company Act mandates that every MO LLC has an officially designated registered agent and address. The registered agent must be a resident person or legal entity formed or registered in Missouri. This address can be different from the company's principal office address.
SPECIFYING TYPE OF MANAGEMENT
By default, a Limited Liability Company in Missouri is member managed. Those wishing for a MO LLC to be manager managed should make sure that their formation filing reflects this.
LIFE OF THE COMPANY
Duration used to be a sensitive matter due to tax reasons. But since 1997, the IRS made LLC taxation matters easier without any requirements related to the life of a company. As a result, most states including Missouri now allow for this kind of legal entity to have a perpetual life. Missouri requirements do require a certain statement of duration in the documents on record with the state.
EFFECTIVE DATE
The Missouri Limited Liability Company Act also demands that an effective date be stated for the LLC in the filing. Most filers will pick the document processing date, but you may also select a date at some point in the future. Future dates must be no farther than 90 days from the submission date of the filing. |
