Limited Liability Company

 

The Missouri limited liability company is more frequently used than other legal entities by entrepreneurs and new businesses in Missouri. More than 30,000 LLCs are created every year in Missouri.

Many attempt to form one only to find out that their filing is defective in some way because it does not meet the requirements of the Missouri Limited Liability Company Act. Even worse, others might be able to get a filing processed by the state but find out later there was something incomplete or noncompliant with MO LLC legal requirements.

You want to avoid any of these problems as they can cause you significant liability and problems later in your business life. This Article summarizes the 6 requirements for an LLC formation filing under Missouri LLC laws.

NAME OF MISSOURI LLC

Specific requirements for a Missouri LLC name are outlined in section 347. The name must be easily distinguished from others on record in the state of Missouri, and it must end with an LLC designation. In order to assure a distinguishable name, perform a name search before filing.

THE PURPOSE OF AN MO LLC

The formation documents must include a statement setting forth the LLC's purpose. Missouri state does allow you to use a general statement provision and accepts a standard language provision here. It is advised for most business to keep this purpose broad so as not to limit the authority of your business as it grows and evolves.

REGISTERED AGENT

The Missouri Limited Liability Company Act mandates that every MO LLC has an officially designated registered agent and address. The registered agent must be a resident person or legal entity formed or registered in Missouri. This address can be different from the company's principal office address.

MANAGEMENT

By default, a Limited Liability Company in Missouri is member managed. Those wishing for a MO LLC to be manager managed should make sure that their formation filing reflects this.

LIFE OF THE COMPANY

The IRS no longer has any requirements relating to the duration of a company as of 1997, making statement of duration less critical in regards to tax issues. Consequently, Missouri, along with most other states, now allows for a limited liability company to have perpetual life. However, the documents the state keeps on file must include a statement of duration.

EFFECTIVE DATE

Finally, the Missouri Limited Liability Company Act requires that a stated effective date for the legal entity be included in the filing. Most choose the same day the documents are processed but you can choose a date in the future as long as it is no longer than 90 days out from the filing submission date.

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