The MO LLC is used more than any other legal entity by new business owners in Missouri. Over 30,000 limited liability companies are formed each year in this state.
Those trying to form an LLC may discover after the fact that their filing does not meet the requirements laid out in the Missouri Limited Liability Company act. Even having a filing processed is no guarantee for business owners, since sometimes a filing already processed by the state may still turn out to be incomplete or noncompliant with the MO LLC act.
It pays to try to stay out of the legal turmoil and liability that can ensue in such a case. Summarized below are the 6 requirements specified by Missouri LLC laws for the filing of an LLC formation.
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 filing must include a statement of the proposed LLC’s purpose. A general statement provision is allowed by the state of Missouri, and a standard language provision is acceptable. The statement of purpose for most Limited Liability Companies should be kept broad to avoid limiting the authority of the business in the future.
AGENT FOR A MO LLC
Furthermore, according to the Missouri Limited Liability Company Act, a registered agent must be designated for every MO LLC. This registered agent can be a legal entity formed or registered in Missouri, or a resident person. The address of the company’s principle office and that of the registered agent do not have to be the same.
MEMBER 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.
PERPETUAL DURATION
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.
DATE EFFECTIVE
As specified in the MO LLC act, the filing must state an effective date for the LLC. Typically, the date of processing is used, though a future date no more than 90 days from when the filing is submitted can be used.
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