To form an LLC in Kentucky you will need to file the Articles of Organization with the Kentucky Secretary of State, which costs $40. You can apply online, by mail, or in-person. The Articles of Organization is the legal document that officially creates your Kentucky Limited Liability Company.
How much does it cost to establish an LLC in Kentucky?
The cost to start a Kentucky limited liability company (LLC) is $40. This fee is paid to the Kentucky Secretary of State when filing the LLC’s Articles of Organization. Use our free Form an LLC in Kentucky guide to do it yourself.
How do I get a tax ID number in Kentucky?
To obtain an EIN number immediately, apply online (available for most businesses) or call the IRS at (800) 829-4933. Before you call, it is highly recommended that you first review IRS Form SS-4 and Form SS-4 Instructions so you will be prepared to answer the questions that the IRS will ask about your business.
What are the benefits of becoming an LLC?
Advantages of an LLC
- Run Your Own Show. Entrepreneurs are self-starters who prefer to chart their own courses. …
- Limit Your Personal Liability. …
- Avoid Double Taxation and Pass-Through Deduction. …
- Less Administrative Hassles and Paperwork. …
- Flexibility in Sharing Profits.
What is needed to start a business in Kentucky?
Before you can register your business you’ll need to choose a legal structure and a name. Registration with the Secretary of State and Department of Revenue In order to legally conduct business in Kentucky most businesses are required to register with the Kentucky Secretary of State and the Department of Revenue.
Does Kentucky require a business license?
Kentucky does not have a statewide business license that applies to all businesses, but certain types of businesses are required to have a special license or permit to legally operate their business. In some cases, more than one license may be required.
How much does it cost to start a sole proprietorship in Kentucky?
The filing fee is $20. You can find contact information for each county from the Kentucky Association of Counties. Kentucky does not require a general business license for a sole proprietor to operate a business. However, depending on your business activities, you may need an occupational or professional license.
How much is a EIN number in Kentucky?
Applying for an EIN for your LLC is free ($0)
Applying for an EIN for your Kentucky LLC is completely free. The IRS doesn’t charge anything for applying for an EIN.
Is EIN the same as tax ID?
EIN. An Employer Identification Number (EIN) is also known as a federal tax identification number, and is used to identify a business entity.
What is exempt from Kentucky sales tax?
While the Kentucky sales tax of 6% applies to most transactions, there are certain items that may be exempt from taxation.
Other tax-exempt items in Kentucky.
|Food and Meals|
|Utilities & Fuel||EXEMPT *|
|Medical Goods and Services|