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Safe Shield - Your Partner in Forming a South Dakota LLC

How can Safe Shield help form a South Dakota LLC?

How can Safe Shield help form a South Dakota LLC? Safe Shield is sought by many businesses who desire to cut their liabilities and succeed in their fields. Our service implements a three-step process in order to initiate your business safely and successfully. Through experienced guidance by our business formation experts, you can rest assured that your financial and personal investments will be protected and organized in such a manner that will ensure success.

In establishing your South Dakota LLC, Safe Shield will assist you in the preparation and filing of the Articles of Organization with the South Dakota Secretary of State. In addition, we will search name availability for your South Dakota LLC. Safe Shield will prepare your Operating Agreement as well as all of the other necessary foundational documents, while also offering a number of other important personalized services that will benefit your company. After the filing of the Articles of Organization, your South Dakota LLC will then be recognized as a legitimate business entity by the state.

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Registration of your South Dakota LLC’s name

Registration of your South Dakota LLC’s name Selecting a name for your business is the initial step in the proper formation of your South Dakota Limited Liability Company. Name selection can be confusing, but generally, the name that you select must be registered and bear the words “Limited Liability Company” or the initials “L.L.C.”. If the company is registered in a language other than English, you must use words or initials of the same meaning. It cannot bear any of the following words: “Corporation”, “Incorporated”, “Limited Partnership” or the initials “Corp.”, “Inc. or “L.P.”. It must never bear any word or group of words that is not allowed by the existing law for the said LLC.

Your chosen name must also be distinguishable in the records of the South Dakota Secretary of State from all of the following:
  • The name of any other South Dakota Limited Liability Company, Limited Partnership, or Corporation. Nor can it be identical to a previously registered foreign LLC, Limited Partnership, or Corporation.
  • A name authorized by the existing laws of the State of South Dakota.
  • The false name used by an overseas company, “Foreign Limited Partnership”, or “Foreign Limited Liability Company” that has been given the authority to conduct business in South Dakota because its actual name is not available.

With the help of Safe Shield, you can choose the names you would most like to use. It is also very important to check for the availability of the names first. Safe Shield will search the possible names of your South Dakota Limited Liability Company before filing. And, after you have chosen a particular name, Safe Shield will assist you in registering the chosen name with the State of South Dakota.

Requirements in forming your South Dakota LLC

Your LLC is legal and official when the Articles of Organization are filed by the South Dakota Secretary of State, and they are determined by that office to meet all state laws. The Articles of Organization must also accompany the filing fee and be submitted by mail only. This fee is currently $150.00. It must also contain information including: · LLC Name and Address · Date LLC is Effective and Duration if not Perpetual · Registered Agent Name and Address · Name and Address of Each Organizer · Selected Type of Management whether Member-Managed or Manager-Managed Regardless of Whether One or More Members Will Be Liable For Company Debts and Obligations · Name, Title, and Signature of the Resident Agent, Who is the Organizer Executing the LLC

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The document must be signed by at least one organizer, manager, member, or fiduciary of the South Dakota LLC, as specified in the document. The standard processing time is two to three weeks. Expedited services are also available for a fee of $50, which will reduce the processing time. Process time when expedited is five to eight business days.

It is also highly recommended that an Operating Agreement is created. In South Dakota, to create an Operating Agreement, all members join to create a legal document including all terms of any agreement. The document can be revised or changed at will if it is done so in writing with the agreement of all members. However, all changes must comply with all state laws. The registered agent should keep a copy on file.

If your LLC provides certain professional services other licenses and permits from South Dakota’s professional license board may also be necessary.

When forming a South Dakota LLC, there are other matters regarding organization that must be addressed. The rules that apply are as follows: · The resident agent can be any person natural to the United State that is over 18 years old and the person does not necessarily need to be a member of the organization. · A South Dakota LLC requires that at least one person or business is listed as the organizer; however additional organizers may be included. · The organizer may be an individual, a corporation, a Limited Liability Company, a government or governmental agency, a business trust, an estate, a private trust, a partnership or association, or any other entity considered legal by the State of South Dakota.

A member is essentially an owner or co-owner of the LLC. Any legal entity can become a member by obtaining a share in the LLC at any time or within the span of time provided in an operating agreement. A member must also be in compliance with any requirements of the Operating Agreement. In South Dakota, there are no age or residence requirements for members and they need not be listed in the articles of organization. .

Members are also allowed to resign from membership; however there are some restrictions on how this may be done. Typically a member can file a notice of withdrawal with the LLC, unless it is specified otherwise in the Operating Agreement. The Operating Agreement is crucial to define the terms of any possible resignation. Any member has the right to resign from membership when the process is laid out clearly and it is not prohibited in the Operating Agreement. In some instances, even with an Operating Agreement members may be prohibited from withdrawing based on the agreement, or at the very least be subject to stringent withdrawal guidelines.

There are other requirements concerning membership, minimum numbers, requirements for eligibility, and the actual process of securing membership in which Safe Shield will assist. Safe Shield will ensure all requirements are met and make it simple for the LLC to be established and operate successfully.

In the matter of member contributions to the South Dakota LLC, any member may contribute cash, property, services, promissory notes, or some other binding promise to provide cash, property, or other good and valuable considerations, or to render any services.

Other Safe Shield Services for South Dakota LLC’s

How can Safe Shield help form a South Dakota LLC? Safe Shield can help provide your South Dakota LLC with a Registered Agent in South Dakota. South Dakota law does require a Registered Agent, and it is important that all LLCs have an agent duly registered with the state. This agent is the individual authorized to receive letters, correspondence, and notices coming from the state including court documents.

Safe Shield is also pleased to inform you about any continuing obligations set by the State of South Dakota. This would include information about all required record keeping according to state law.

One such obligation set by South Dakota state law is the submission of an annual report. The report is due on the final day of your anniversary month of each year, and must include the $50 filing fee. The first annual report is due in the year following that in which the limited liability company was initially chartered or registered with the Secretary of State. The report must include: · Limited liability company name · Full address and email of the principal business location · Name, address, and email address of the registered agent in South Dakota · State of origin · Date, signature, and email address of person authorized to submit the annual report · Telephone number of the principal place of business · Names and addresses of all managers and governors, or the names and addresses of the managing member or members

The state also requires certain records to be kept that are available for inspection at the Registered Office of the South Dakota LLC. The records must include: · The Articles of Organization and any amendments · Bylaws, restated bylaws and any amendments · Permanent minutes of shareholder and director meetings and record of all actions taken by a committee of the board of directors in place of the board of directors and on behalf of the corporation · Records of actions taken by the shareholders without a meeting · Resolutions adopted by the board of directors creating one or more classes or series of shares and fixing their relative rights, preferences and limitations · A list of all shareholders including names and addresses listed alphabetically and showing the number and class of shares held by each · Written communications to shareholders for the past three years · A list of names and business addresses of current directors and officers · Most recent annual report

Safe Shield can also offer some assistance in the matter of state and federal taxes, though they cannot give tax advice. South Dakota is one of four states that do not have business or personal income taxes; South Dakota taxes both goods and services. Business Taxes include Sales Tax, Use Tax, Contractors' Excise Tax, Municipal Sales and gross receipts tax, Tourism Tax, Telecommunication Tax, Motor Vehicle Gross Receipts Tax, and Emergency 911 Surcharge.

Your LLC is required to get a federal tax identification number or “employment identification number (EIN)” if the LLC has more than one member. The EIN is very much like the social security number of an individual. A separate tax identification number will be needed by your LLC so you can open a bank account. Safe Shield can assist you in filing for certain tax requirements like your Federal Tax ID Application as well.

It is also helpful to have assistance with future state filings. Filings, which must be completed with the South Dakota Secretary of State, must be submitted with the necessary filing fee (if applicable). Annual report filings should be filed on time, a registered agent and office must be continually maintained, and any changes or amendments to the certificate of registration must be reported.

Click Here for more detail about how to set up your business properly from the very start.

SafeShield provides step by step assistance with the filing and management of your North Dakota LLC. Get started today by completing our online formation form and begin the exciting and rewarding process of starting your own LLC. If you have any questions, we welcome you to contact Safe Shield today !