Are you looking for the best way to register an LLC in PA? Then you’ve come to the right place since we’ll reveal the steps required to set up your LLC in the state of Pennsylvania. There are benefits to launching an LLC, and we’ll share them in this article. This will help you appreciate the top reasons to go through with the process in the first place.
State law in Pennsylvania says that a registered agent must be assigned to an LLC. We’ll help you understand the process in this article and how they can help your business. Overall, there are many benefits to registering an LLC. It can take your business to the next level and help you dominate your industry.
Steps for Registering an LLC in PA
Now let’s focus on the steps you need to take in order to register an LLC in PA. The time it takes to complete the steps depends on how prepared you are. So make sure that you take the time to gather your documents ahead of time, so you can fill out the documentation quickly.
Select a Unique Name for Your LLC in PA
The first part of the process is to choose a name for your LLC. Make sure that the name isn’t already taken in the state of PA, and it doesn’t sound similar to other ones. Otherwise, your application to register the LLC may get rejected.
You’ll need to do a name search to find out what ones are still available. Also, if you find a name you like but aren’t ready to start the business, you can pay a reservation fee. This ensures that there’s no rush to start the business when you’re not ready and still have chosen your ideal LLC name.
Choose a Registered Agent
It’s the law that you must have a registered agent working for your LLC. This can be a professional working in the state of PA, or a service that has the license to operate there. When looking for a registered agent, you’ll need to find one that you can trust. Hence, dig into their background reputation to ensure that they are legitimate.
Don’t have the time to look for a good service? Then consider Business Anywhere, for a professional PA registered agent. We can help deal with any legal matters so you can get on with growing your business.
Complete the LLC Paperwork
Now it’s time to file your LLC paperwork, and this includes submitting the Certificate of Organization and the docketing statement. You’ll need to file these with the Pennsylvania Department of State’s Bureau of Corporations and Charitable Organizations. The form submission can be completed online, or you can send it by mail. Also, the fee is $125, and you may get a fee waiver if you apply for a veteran small business exemption.
Furthermore, you can establish your LLC in other states but operate the business in PA by filing a Foreign Registration Statement, and the cost is $250.
Do you want to avoid getting stuck with the paperwork when filing your LLC paperwork? Then take advantage of the Business Anywhere business registration service. We can help you at every step of the process.
Advantages of Registering an LLC in PA
Now let’s turn our attention to the benefits of registering your LLC in PA. This section provides an overview of the top reasons why making the investment is worthwhile. Also, some of these advantages may greatly increase the chances of your business becoming a success.
Higher Chance to Get a Bank Loan
Banks securitize every aspect of a business before they hand out a loan. That’s because they want to be sure they will receive a return on their investment. Therefore, if you take the step of registering your business as an LLC, then you may get the bank loan your business needs.
Also, the size of your bank loan might be increased if you have an LLC. The increase in loan size may be the difference between slowly scaling your business and taking it to another level fast.
Here’s an example of what you can spend your bank loan on:
- More inventory to fill up your shelves.
- Hire more employees to distribute the workload.
- Increase the amount of money you spend on marketing.
Liability Protection
You can reduce the chances of facing personal liability problems due to issues with your business. Therefore, you can avoid serious legal trouble when customers file a complaint. Instead, it’s your LLC entity that will take the brunt of the legal problems.
More Trust
The amount of trust that you can acquire from employees, suppliers, and customers increases if you have an LLC. That’s because your business will be viewed as more legitimate. Therefore, it’s worthwhile investing in an LLC since you’ll get more sales and higher levels of profitability.
Also, some of the higher-quality suppliers in your industry will be willing to do business with you. In fact, you may get a price reduction when entering negotiations since suppliers want to do business with legitimate companies.
Financial Management
You can improve the quality of your financial management with the LLC structure. That’s because the money will flow in and out of the LLC instead of your personal account. This is especially handy when you have business partners with whom you need to share financial transactions.
Should you Register an LLC in PA?
If you plan on launching and running a business in PA, then registering an LLC is the smart move. You’ll have many of the advantages discussed in the section above. Hence, your odds of success will improve since you can get a better bank loan and have more trust in your industry.
Also, registering an LLC is fast and inexpensive. In fact, here at Business Anywhere, we can help with business registration services to make the process easier.
