LLCs in Mississippi are affordable and easy to form. And as with the states, the State of Mississippi has some unique LLC requirements.
Interested parties must register with the Secretary of State by filing the necessary forms, paying the necessary fees and meeting all naming and formation requirements.
The specifications required of a Mississippi LLC are as follows:
Registration. LLCs are required to complete and submit a Certificate of Formation with the Secretary of State. This is done by mail. The Certificate of Formation must include the following pertinent information:
- LLC name
- Future effective date, if applicable
- Business email address
- If you will have employees, a federal employer identification number (EIN) is needed, not a social security number
- Name and address of registered agent
- Date of dissolution, if applicable
- Signature, name, title and address of at least one member, manager or authorized representative
Be sure to also include the necessary filing fees.
Forms and fees. LLC registrants are required to complete and submit a Certificate of Formation with the Secretary of State. There is a $50 filing fee that is about $50 that must be paid upon submission of the documents. Fees can change, check with the Secretary of State for the most recent fees.
Timeline. The usual processing time is between one to two working days after receipt of the documents. Expedited processing is not available in Mississippi.
Naming requirements. LLC naming requirements can be confusing. However, the easiest way to ensure that your LLC name will be approved is to make it distinguishable from other LLCs and include specific words required of LLCs. You may opt to have a preferred name checked for availability before filing your LLC formation documents with the Secretary of State.
Formation requirements. To form an LLC, a registrant must first file a Certificate of Formation with the Secretary of State. All submissions must be accompanied by a $50 filing fee.
An LLC with more than one member is also strongly advised to have a limited liability operating agreement among its members.
Starting an LLC in Mississippi?
Before you begin the registration process for an LLC in Mississippi, it’s important to know what an LLC is and whether or not it is a viable business structure for your company, so be certain to read up on the definition and benefits of an LLC.
These steps will guide you through the LLC registration process with the Mississippi Secretary of State:
1. Decide on a name for your business. You can choose any name for your LLC as long as it ends with “Limited Liability Company” or any variation of its abbreviation—e.g., LLC or L.L.C.
A name may be reserved for up to 180 days. You may file a name reservation application with the Secretary of State by submitting a completed request form and $25 fee via mail. The name reservation form must include:
- Desired name for the LLC
- Entity type
- Printed name, address and signature of applicant
You may also have a preferred name checked for availability by accessing the Secretary of State website.
2. Assign an agent for service of process. Registered agents are individuals or corporations authorized to do business in the state and which have permanent addresses in Mississippi. Registered agents accept legal documents on behalf of the LLC and make sure its members are notified.
3. Get an Employer Identification Number (EIN) from the IRS. If there are two or more members in your LLC, your company will need to obtain an EIN from the IRS, for tax purposes.
4. Create an operating agreement. Although LLCs in Mississippi are not required to have a limited liability company operating agreement, it is wise to have one in place with other members should your LLC have more than one member. The State of Mississippi recognizes limited liability company operating agreements as governing documents.
5. Familiarize yourself with the LLC’s continuing legal obligations, specifically annual reports. Mississippi requires LLCs to file annual reports with the Secretary of State. These reports must be filed anytime after January 1 and before April 15 every year. This process may be done online or by mail and there is no filing fee.
Please note that other continuing legal obligations may include, but are not limited to, state taxes, annual reports and so on. It is your responsibility to know what these continuing legal obligations are in order for your LLC to remain in good standing with the state.
Filing an LLC and Fees
Following are the forms and fees that are required when starting an LLC in Mississippi:
1. Forms. First, you need to complete and submit a Certificate of Formation, along with the required filing fee, to the Secretary of State.
2. Fees. The filing fee for the Certificate of Formation is about $125. Fees can change, check with the Secretary of State for the most recent fees.
3. Limited liability company operating agreement. Although the LLC operating agreement is not submitted with the Certificate of Formation to the Secretary of State, it is a good idea to have one in place for LLCs with more than one member. This document should be kept on file by the registered agent.
4. Taxes. LLCs in Mississippi are treated as corporations, limited liability partnerships or single-member LLCs and are subject to federal income tax classifications. Depending on the type of taxation you opt to have for your LLC, you will have different federal tax responsibilities.
You should always make sure to acquaint yourself with the state laws regarding taxation, as your LLC may be subject to other taxes akin to the kind of business your LLC is involved with.
This portion of the site is for informational purposes only. The content is not legal advice. The statements and opinions are the expression of author, not LegalZoom, and have not been evaluated by LegalZoom for accuracy, completeness, or changes in the law.