An Ultimate Guide To Form an LLC in the State of Iowa
Formation of Limited Liability Company is simple and affordable and gives protection to the members. One or more person can create an LLC and the Certificate of Formation must be filed with the Secretary of State Iowa.
Iowa Entity Name Search and Iowa company name Reservation To Register an Iowa LLC
The proposed name, to use for the LLC must be checked with the Iowa Secretary of State database to file Certificate of Formation. LLC name can also be reserved for the future use.Name reservation does not give you a right to operate or advertise business in the state of Iowa. It is reserved for a limited time only.
Preparation of the Certificate of Formation Iowa
- The name of the LLC must state in the certificate with a business designation LLC, L.L.C or Limited Liability Company.
- The street address of the initial registered office and the name of the initial registered agent for service of process for the company. A registered agent can either be a person or a commercial entity of Iowa.
- Purpose to form an LLC and any lawful business can be started under LLC.
- Name and address of the owner(s).
- Pay state filing fee to process documents.
Timeline To Process The Iowa LLC
State of Iowa usually takes 7-10 business days to process your application.
How to get an EIN for Iowa LLC?
LLC in the state of Iowa must apply for the Employer Identification Number with the Internal Revenue Service to open a bank account and filing taxes.
Register an IA LLC as a Non US Resident
A Non US Resident can also register an LLC in the state of Iowa without a social security number.
Iowa Biennial Report Filing
The LLC must file a renewal every year to conduct business in the State of Iowa.
How to prepare an Iowa LLC Operating Agreement?
Although it is not a necessary document to register an LLC in the state of Iowa, but we recommend to prepare the operating agreement to limit the obligation of the members or for their protection.
How to get an ITIN to file Iowa LLC taxes?
Non US residents file a form W7 to get an ITIN to file taxes. The W7 form goes along with the income tax returns and each member of the LLC gets a separate ITIN.
Filing Elections For Iowa S Corporation or Iowa C Corporation
LLC can choose to file taxes as a corporation or an S Corporation for the tax purposes only. Form 2553 should file to elect an S Corporation and Form 8832 for a C Corporaiton.
Filing Iowa LLC Taxes
- Single member LLC report profit or loss on form 1040 as a sole proprietorship.
- Multi member LLC report profit or loss on form 1065 as a partnership or a corporation.
- LLC as an S Corporation report on Form 1120S.
- LLC as a C Corporation report on Form 1120.
Apply for the Iowa LLC Sales and Use Tax
Iowa Sale Tax is required to sell tangible properties or offer taxable services, and the application files with the Iowa Department of Revenue.
Useful Links:
https://tax.iowa.gov/iowa-sales-and-use-tax-taxable-services-0
