What is an LLC?
LLC is a legal and separate entity and provides you a protection for your personal assets. LLC is a pass through entity and the profit and loss pass through to Members/Owners to report taxes on their personal returns. LLC can be treated as a Corporation or an S corporation to file taxes.
How to Register an LLC in the state of Connecticut?
Search Company Name or Reserve
You should check the company name before filing limited liability company to organize with the CT Secretary of State to make sure the name is available. You also have a choice to reserve the name, if you intend to file later.
Prepare Articles of Organization
Include following information in the articles:
- Name of the Limited Liability Company
- Business description, you can conduct any lawful business is permitted by the Connecticut State Law.
- Principal office address (Po Box is not acceptable).
- Mailing address if different from the office address (PO Box is acceptable).
- Appointment of Statutory Agent for service of process (It can be a legal entity or a person).
- List all members or managers' information including their names, titles, business addresses and residence addresses.
- Include required filing fee.
- Organizers's name(s) and Address(s)
- A non US resident also can also set up a Limited Liability Company in the state of CT without a social security number.
Get Employer Identification Number
You should apply for the Employer Identification Number with the IRS to open a bank account or filing taxes.
State Processing Time
Current estate processing time to file Limited Liability Company is 1-2 working days.
Tax Filing Structure
- You can file an election with the Internal Revenue Service to file your company's taxes as a Corporation or an S Corporation.
- Form 1040 will be filed for the disregarded entity and form 1065 for the multi-members LLC.
- A Non US resident will file Form W-7 with the Internal Revenue Service to obtain an ITIN to file taxes.
Apply for Connecticut Sales Tax License
Obtain sales tax permit from the Connecticut Department of Revenue Services, if you are engaged in selling or providing and taxable products or services. You can visit to the DRS website to check the taxable items or services.
Requirements to Hire Employees
- Register with the Connecticut Department of Labor, if you are planning to hire employees.
- Obtain workers compensation and Disability insurances for your employees.
