Kansas LLC’s must comply with state law by having the words, “Limited Company”, “Limited Liability Company”, “L.L.C.”, “LLC”, “LC”, or “L.C.” at the end of the name. The LLC name must be unique from other business entities registerd with the Kansas Secretary of State. The Kansas Secretary of State’s business name database (https://www.kansas.gov/businesscenter/) can be used to check for name availability.
The Articles of Organizaton must be filed to the Kansas Secretary of State. The articles must contain the LLC’s name and address as well as that of its registered agent. The articles can be filed at the Kansas Secretary of State website (https://www.kansas.gov/businesscenter/).
Kansas LLCs must also include the names of their members and managers in the Articles of Organization. After formation, the LLC must file an annual report each fiscal year. The report will contain information about the LLC’s physical address and Employer Identifcation Number (EIN).
What is an LLC?
LLC refers to a Limited Liability Company, and it is organized by business owners. They have fewer corporate formalities and can be taxed by the IRS as a sole proprietorship, S corporation, or C corporation.
Each state has different requirements and regulations regarding the formation of an LLC. Business owners should check with state laws when considering forming an LLC.
Owners of LLCs are known as members, they can be individuals, corporations, other LLCs, or foreign entities. There is no limit on the number of members an LLC can have. In most states, “single-member” LLCs are allowed, where there is only one owner involved in managing the LLC.
The IRS will treat the LLC as a corporation, partnership, or included in the LLC owners personal tax return. A domestic LLC with at least two members is classified as a partnership for federal income tax purposes unless they file Form 8832 and elect to be treated as a corporation.
LLCs carry tax advantages over other forms of business such as limited partnerships. The owners of an LLC do not assume personal liability for business debt, and any losses of the LLC can be used as tax deductions against active income.
An LLC can be formed through the state business formation process or consulting with LegalZoom.