How do I start my own business in Kentucky?

How much does it cost to register your business in KY?

To form an LLC in Kentucky you will need to file the Articles of Organization with the Kentucky Secretary of State, which costs $40. You can apply online, by mail, or in-person. The Articles of Organization is the legal document that officially creates your Kentucky Limited Liability Company.

Does Ky require a business license?

Kentucky does not have a statewide business license that applies to all businesses, but certain types of businesses are required to have a special license or permit to legally operate their business. In some cases, more than one license may be required.

Do I need a LLC to start a business?

You don’t need an LLC to start a business, but, for many businesses the benefits of an LLC far outweigh the cost and hassle of setting one up. … You can also get those things by forming a corporation or other type of business entity. It’s also perfectly legal to open a business without setting up any formal structure.

How do I start my own LLC?

Steps to Form an LLC

  1. Choose a name for your LLC.
  2. File Articles of Organization.
  3. Choose a registered agent.
  4. Decide on member vs. manager management.
  5. Create an LLC operating agreement.
  6. Comply with other tax and regulatory requirements.
  7. File annual reports.
  8. Out of state LLC registration.
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Do you need a business license to start a business?

Almost all businesses will need one or multiple licenses to start and operate their businesses legally, whether at the local, state, or federal level. … You’ll want to apply for and receive all necessary licenses before you actually start operating or open your doors to the public.

How much does an LLC cost?

The main cost of forming a limited liability company (LLC) is the state filing fee. This fee ranges between $40 and $500, depending on your state. There are two options for forming your LLC: You can hire a professional LLC formation service to set up your LLC (for an additional small fee).

How do I get a tax ID number in Kentucky?

To obtain an EIN number immediately, apply online (available for most businesses) or call the IRS at (800) 829-4933. Before you call, it is highly recommended that you first review IRS Form SS-4 and Form SS-4 Instructions so you will be prepared to answer the questions that the IRS will ask about your business.

Can I start a business without registering it?

You are allowed to operate a sole proprietorship without registering, but you are required to register with your local government to collect and file state taxes. There is nothing wrong with running an unregistered business as long as your business is legal and meets all licensing and tax requirements.

What if my LLC made no money?

Even if your LLC didn’t do any business last year, you may still have to file a federal tax return. … But even though an inactive LLC has no income or expenses for a year, it might still be required to file a federal income tax return. LLC tax filing requirements depend on the way the LLC is taxed.

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What is a good LLC to start?

We chose LegalZoom because they offer easy-to-use online LLC filing services for a reasonable cost. LegalZoom is a large, recognized name in online legal services and earns our top spot as the best LLC filing company for online businesses. LegalZoom is our winner thanks to its low-cost option for new LLC filings.