There are over 120 million registered users on OnlyFans, and the platform’s paid out over $5 billion to creators. It may not be a traditional job, but it can pay well if you’re good at what you do. So if you’re interested in creating adult content, then this is where you need to be.
It’s as easy as signing up and paying the fees to start distributing content on the platform. But we recommend creating a limited liability company (LLC) before launching your OnlyFans career.
Are you now interested in creating an OnlyFans LLC? Then read on. We’ll give you a thorough guide.
Do I Need an LLC for OnlyFans?
Considering that you’re dealing with adult content, you want to ensure that all legal aspects are covered so you don’t get into trouble. So one of the things you might be wondering is if an LLC is required.
As we’ve said earlier, it’s optional to have an LLC for OnlyFans, so that’s good news. However, LLCs offer their members many benefits, including tax ones.
One of the biggest protections that an LLC can give you is the separation of your personal assets from your company’s (this is what the “limited liability” part means). This means that if you’ve been scammed or run into copyright issues, you won’t have to worry about your own money coming into play. Any rulings will only involve your LLC’s finances.
Another benefit you can get from having an LLC is a more professional look. This will give you more credibility, and as a result, this can open more doors of opportunity.
You can always create a corporation, but it’s not as good for an OnlyFans entrepreneur. Not only is it lacking in limited liability, but you’ll have to deal with more paperwork and costs.
How to Start an OnlyFans Business
Are you now convinced that you should have an OnlyFans LLC before launching your career? Then here are the steps to make that happen.
Determine Where You Want to Establish Your LLC
You can actually choose to form your LLC in any state you wish. However, many people choose their home state so it’s easier to deal with.
Whichever state you choose, you’ll have to comply with its business and tax laws; some states (like Delaware and Wyoming) have favorable laws, which is why most people choose to form their LLCs in those states. There are also differing LLC costs by state. You should look at everything as a whole to determine the best state for your OnlyFans LLC.
Pick a Memorable Business Name
As with any business, you’ll need a catchy business name so people remember you. After all, there are over 2 million registered content creators on the platform, so you’ll need to stand out to attract subscribers.
You’ll have to make sure that the name is unique; you can usually do this by performing a business entity search through your chosen state’s Secretary of State website. To do your due diligence, you should use a search engine too, as you’ll be able to see domain names and social media tags that are taken.
Determine Who Your Registered Agent Will Be
When you create an LLC for OnlyFans, you’ll need to appoint someone as your registered agent. This is the person or entity responsible for your legal correspondence, so it should be someone you trust. You can be your own registered agent, but we don’t recommend you do that since you’ll be busy with the content creation side of things.
You can always use a registered agent service, such as ours. We charge as little as $147 per year, and we have other comprehensive services to make your time as an LLC owner easier.
File the Articles of Organization
The articles of organization is a legal document that has information about your LLC and it’s required for its formation. It’ll detail the company’s:
- Official name
- Address
- Owners/members
- Registered agent
- Purpose
If you use our business registration service, we’ll take care of this for you.
Create an Operating Agreement
This legal document isn’t always required in every state, but it’s a good idea to have one. As you can guess by the name, the operating agreement outlines the ownership and operating procedures of your LLC.
Should you bring on other people and make it a multi-member LLC, this prevents conflicts. Even if you keep the LLC as a single-member one, an operating agreement protects your company’s limited liability status and will help in legal matters.
Our expert team can handle this document for you for a small additional fee if you use our services.
Get the Relevant Permits and Licenses
Depending on where you live, you may need to get permits and licenses to legally operate a business from your house. This is applicable on both a local and state level.
Compliance with all local regulations is absolutely crucial, so don’t slack on this. Otherwise, you may risk fines and legal problems that can be troublesome and costly.
Register for State and Local Taxes
You might also have to register your LLC for state and local taxes. This can differ for each locality, so check with your state’s taxation department for specific requirements.
You can consult with a tax professional too. They’ll have experience helping other entrepreneurs like you.
Apply for an Employer Identification Number (EIN)
An EIN isn’t necessary if you’re working alone in the LLC, but since it’s free, it doesn’t hurt to apply for one right away. That way, if you expand your business in the future, you can do so smoothly. Plus, an EIN will allow you to apply for a business bank account, which you’ll need.
This is another service we provide at a small extra cost if you don’t want to deal with the application process.
Open a Business Bank Account
You’re required by law to keep personal and business finances separate, which means you’ll need a business bank account.
After you receive your EIN, you can then apply for this new account. This will help maintain your liability protection, and it’ll make accounting easier too.
Get Started on Your OnlyFans LLC
An OnlyFans LLC isn’t mandatory to start posting content on the platform. But if you want to make some decent money there, it’s a wise move to form an LLC first since it offers you numerous advantages.
It’s a pretty straightforward process, but if it sounds daunting, we’re always available to smooth out a potentially bumpy journey. You don’t have to go through it alone.
Sign up with Business Anywhere to get your OnlyFans career launched. We’ll deal with all the administrative work and get your LLC approved fast.
