How long does it take to get an LLC in 2024?

If you’re beginning a business for the first time or need assistance setting up an LLC, you’ve come to the correct place. We have all of the information you need to know regarding the time it takes to register your LLC.

However, you should be aware that establishing an LLC with the state and completing other LLC formation procedures might sometimes take longer than expected.

There may be unforeseen delays as a result of incomplete or incorrect application submission issues, and keep in mind that you are working with the state government.

In this article, we’ll explain what a Limited Liability Company (LLC) is, how to form one, and how long it takes.

LLC processing time

Starting a business is always an exciting new chapter, but as an ambitious entrepreneur, long processing delays to form your limited liability corporation (LLC) can be a huge detriment.

While the exact time it takes to complete LLC formation documents varies based on various factors, including location, there are several steps you can take to expedite the process and have your firm up and running as soon as possible.

The time it takes to form an LLC varies by state. It can take anything from a week to 10 business days, depending on how quickly the state processes business filings.

In some states, the state agency often gives approval for the limited liability company within three business days after receiving your intake information.

However, there are seasons of the year when it may take longer than planned, so plan appropriately. Typically, there is a high file volume at the start and end of the year.

Tax Structure

Once your LLC has been officially registered with the state, it can be configured to resemble a corporation, ensuring the limited liability protection benefits of a corporation while also giving the most basic degree of taxation benefits seen in a partnership.

Fees

Payment of the filing fee (which varies depending on the state in which your paperwork are filed) is required before the state will approve your LLC. The LLC articles of organization will not be completed until the state receives your entire payment.

In many circumstances, forming an LLC is as simple as filing a one page document with the state (commonly referred to as the articles of organization or certificate of organization, depending on the state) and the state filing fee.

How to start an LLC quickly

Whether you live in a state that allows for accelerated processing or not, there are ways to speed up the process of forming an LLC. In most circumstances, this entails being well-prepared, well-organized, and thorough. Here are several quick ways to form an LLC:

• Check that your formation documents are complete and properly filed. This is one of the most typical issues that entrepreneurs encounter while founding their LLC. Making sure you meet all standards before filing your formation documents raises the likelihood of a quick and smooth filing process.
• Make use of an LLC filing service. This will ensure that your formation documents are full, accurate, and meet all state criteria, resulting in a shorter processing time.
• Submit your paperwork online. If your state allows online filing, it can significantly reduce processing time when compared to mail-in or in-person filing.

Applying for a US business bank account

Once you get an LLC it will take another 1-2 weeks on average to get your bank account set up.

To begin, you should discuss your requirements with several banks to gain a better understanding of their services and rates.

After you’ve decided on a bank, you can begin the account-opening procedure by going online or visiting a local location.

Specifics vary from one bank to another, but new customers are typically required to come to the bank for an in-person visit and give in their paperwork.

In general, before you may open a business bank account in the United States, you’ll need to present the following documents:

• Photo identification of the director opening the account
• Articles of organization/incorporation
• EIN verification letter
• Personal address proof for the director
• Proof of business location (some banks will require you to prove that your business address is located in the same geographic area and state as that branch, while others will not)

It’s also worth noting that many banks will require a minimum deposit in order to open an account. Before you go to the bank to turn in your documents, double-check what documents are necessary and the minimum deposit amount.

Which bank should I go with?

There are numerous national and local banks around the United States, and if you already have an account with an international financial organization that operates in the United States, you may be able to simply move your account across. If you’re opening a new account, you should definitely stick with one of the Big Four banks:

• JP Morgan Chase
• Citibank
• Bank of America
• Wells Fargo

How to create an LLC

You can create an LLC on your own or work with a company like Doola that will take care of everything for you.

If you decide to get help with forming your company, here are the steps to follow:

1. Create your business

Your proposed LLC name and personal address (which can be anywhere in the world) are all we require for this phase.

• Email (so we can communicate!)

This stage doesn’t require any paperwork. You might require your passport later on in the process to open a bank account.

• Duration: 1 week (on average)

2. Obtain an EIN

Once your business is established, we begin drafting your EIN application (Employer Identification Number).

You do not need a Social Security Number (SSN) because we will apply on your behalf.

• Typical timeline (with SSN):  1 - 2 business days
• Timeline (without SSN):   4-6 weeks (on average)

3. Register for a U.S. bank account

You can apply for a U.S. bank account through our unique partner site once you receive your EIN, which is needed for the bank account. This stage requires a passport.

• Duration: 3 - 5 business days

Processing of payments

We’ll assist you in setting up your bank account and integrating it with your payment processor so you can begin receiving payments transferred to your account.

How much does an LLC cost?

The cost to form an LLC ranges from $40 to $800. The average state filing fee in the US as of 2022 is $132.

LLC filing fee: A one-time charge made to the state where your LLC is being formed. This charge is one-time only. Monthly LLC costs are not charged in any states.

An ongoing, necessary cost that must be paid annually or biennially to keep your LLC in compliance and good standing. If submitted after the due date, there are late costs. If you fail to comply with this condition, your LLC will be terminated in 90% of states.

LLC cost by state (as of 2022):

• The filing fee for an Alabama LLC is $200. Every year, there is a $100 recurring cost.
• The filing fee for an Alaska LLC is $250. Every two years, there is a $100 recurring cost.
• The filing fee for an Arizona LLC is $50. There are no recurring costs (an informational report does not need to be filed).
• The filing fee for an Arkansas LLC is $45. Every year, there is a $150 recurring cost.
• The filing fee for a California LLC is $70. The annual charge is $800, with a $20 statement of information fee every two years.
• The filing fee for a Colorado LLC is $50. Every year, there is a $10 recurring cost.
• The filing fee for a Connecticut LLC is $120. Every year, there is a $80 recurring cost.
• The filing fee for a Delaware LLC is $90. Every year, there is a $300 franchise tax levy.
• The filing fee for a Florida LLC is $125. Every year, the recurring charge is $138.75.
• The filing fee for a Georgia LLC is $100. Every year, there is a $50 recurring cost.
• The filing fee for a Hawaii LLC is $50. Every year, there is a $15 recurring cost.
• The filing fee for an Idaho LLC is $100. The monthly charge is $0. (an informational report must be filed every year).
• The filing fee for an Illinois LLC is $150. Every year, there is a $75 recurring cost.
• The filing fee for an Indiana LLC is $95. Every two years, there is a $30 recurring cost.
• The filing fee for an Iowa LLC is $50. Every two years, there is a $45 recurring cost.
• The filing fee for a Kansas LLC is $160. Every year, there is a $50 recurring cost.
• The filing fee for a Kentucky LLC is $40. Every year, there is a $15 recurring cost.
• The filing fee for a Louisiana LLC is $100. Every year, there is a $35 recurring cost.
• The filing fee for a Maine LLC is $175. Every year, there is a $85 recurring cost.
• The filing fee for a Maryland LLC is $100. Every year, there is a $300 recurring cost.
• The filing fee for a Massachusetts LLC is $500. Every year, there is a $500 recurring cost.
• The filing fee for a Michigan LLC is $50. Every year, there is a $25 recurring cost.
• The filing fee for a Minnesota LLC is $50. The monthly charge is $0. (an informational report must be filed every year).
• The filing fee for a Mississippi LLC is $50. The monthly charge is $0. (an informational report must be filed every year).
• The filing fee for a Missouri LLC is $50. The monthly charge is $0. (an informational report does not need to be filed).
• The filing fee for a Montana LLC is $70. Every year, there is a $20 recurring cost.
• The filing fee for a Nebraska LLC is $105. Every two years, there is a $10 recurring cost.
• The filing fee for a Nevada LLC is $425. Every year, the recurring charge is $350.
• The filing fee for a New Hampshire LLC is $100. Every year, there is a $100 recurring cost.
• The filing fee for a New Jersey LLC is $125. Every year, there is a $75 recurring cost.
• The filing fee for a New Mexico LLC is $50. The monthly charge is $0. (an informational report does not need to be filed).
• The filing fee for a New York LLC is $200. Every two years, there is a $9 recurring cost.
• The filing fee for a North Carolina LLC is $125. Every year, there is a recurring cost of $200.
• The filing fee for a North Dakota LLC is $135. Every year, there is a $50 recurring cost.
• The filing fee for an Ohio LLC is $99. The monthly charge is $0. (an informational report does not need to be filed).
• The filing fee for an Oklahoma LLC is $100. Every year, there is a $25 recurring cost.
• The filing fee for an Oregon LLC is $100. Every year, there is a $100 recurring cost.
• The filing fee for a Pennsylvania LLC is $125. Every ten years, there is a $70 recurring cost.
• The filing fee for a Rhode Island LLC is $150. Every year, there is a $50 recurring cost.
• The filing fee for a South Carolina LLC is $110. The monthly charge is $0. (an informational report does not need to be filed).
• The filing fee for a South Dakota LLC is $150. Every year, there is a $50 recurring cost.
• The filing fee for a Tennessee LLC is $300. Every year, there is a $300 recurring cost.
• The filing fee for a Texas LLC is $300. The monthly charge is $0. (an informational report does not need to be filed).
• The filing fee for a Utah LLC is $70. Every year, there is a $20 recurring cost.
• The filing fee for a Vermont LLC is $125. Every year, there is a $35 recurring cost.
• The filing fee for a Virginia LLC is $100. Every year, there is a $50 recurring cost.
• The filing fee for a Washington State LLC is $200. Every year, there is a recurring cost of $60.
• The filing fee for a Washington, DC LLC is $99. Every two years, there is a $300 recurring cost.
• The filing fee for a West Virginia LLC is $100. Every year, there is a $25 recurring cost.
• The filing fee for a Wisconsin LLC is $130. Every year, there is a $25 recurring cost.
• The filing fee for a Wyoming LLC is $100. Every year, there is a recurring cost of $60.

Related reads: The four best states to form an LLC in

Conclusion

Creating an LLC is one of the first key stages in getting your firm off to a good start! Many factors will influence how long it takes to get everything up and running. If you haven’t already, now is the best time to establish your LLC.