When creating and maintaining a small business in Georgia, there are many factors that should be considered. The details can sometimes get lost with the frenzy of activity and multiple responsibilities that come to the forefront, but the basics are critical to the business complying with the law.
For those who seek limited liability for their company and want to prevent personal and business assets from becoming mixed, a limited liability company (LLC) may be the way to go. Still, there are underlying factors that must be considered with an LLC. These including selecting its name, filing the correct forms, and having a registered agent.
A registered agent is critical for an LLC
With an LLC, the registered agent will receive any documentation, official information or service of process regarding the business. There is no specific requirement for the registered agent to be involved or uninvolved in the business. That means it does not need to be an owner, an officer or a shareholder.
The address and location must be in Georgia. The registered agent is required to be at that address. It is not sufficient to have a P.O. box as the address. There is no way to avoid having a registered agent when forming an LLC in the state. If the business wants to change the registered agent or the office location, it is done by filing the annual registration or changing it. The rules apply for any kind of business in the state including domestic or foreign LLCs.
An LLC can protect personal assets, but following the rules is essential
Those who fail to understand the value of shielding their personal assets in a business setting often live to regret it. Challenges with the business can cause them to face personal tax issues, lose property and more.
Not adhering to the law with a registered agent or any other part of an LLC is a mistake that many business owners – experienced and inexperienced – make. When forming a small business or making changes to an existing business, it is wise to have legal advice to ensure that the law is followed. A firm with experience in small business formation may be able to help.
