Ready to incorporate in Louisiana this week in our 50 states of incorporation series? This southern gem is most widely known for its delicious comfort food, swinging jazz scene and vibrant colors (as seen in New Orleans), and for surviving hurricanes Katrina and Rita. The population of Louisiana comes in at about 4,614,500, and the capital is Baton Rouge.
Though the state comes in at number 40 on the Forbes “Best States for Business” list, the state office is generally very supportive of small businesses looking to incorporate in Louisiana. Any small business owner is welcome and encouraged to give the state a call with questions they might have, and their state website has also proved to be quite helpful with a checklist available to small business owners to help expedite the process. There are even incentive programs implemented for business owners in the research and development, manufacturing, and motion picture fields. Seafood and tourism are also two big industries that do well in Louisiana, the former of which features 90% of the crawfish eaten around the world coming straight from Louisiana. And as far as tourism goes, Bourbon Street, anyone?
The low ranking on the Forbes “Best States for Business” list is predominantly due to Louisiana’s low ranking in quality of life and the state’s high crime and poverty rates. However, on a small business friendliness scale surveyed by Thumbtack.com, Louisiana holds a solid B in the ease of starting a business, licensing, and regulations.
Here are a few tips to keep in mind if you decide to form an LLC or incorporate in Louisiana:
- Every new small business in Louisiana that forms a Limited Liability Company is required to include either the words ‘Limited Liability Company,’ or the abbreviations ‘L.L.C.’ or ‘L.C.’ in their name. That means on business cards, the company storefront, and in paperwork, be sure to include a form of ‘LLC’ on the end of your business’ name.
- The name and address of the LLC are required to be included in the Articles of Organization. The business’s purpose, and indication of the duration of the company must also be included (this can be perpetual if the filer chooses). The LLC must also name a Registered Agent with a physical address in Louisiana, and have the Articles of Organization notarized. The business owner can act as its own registered agent as long as he/she lives in Louisiana, or the business can appoint an outside registered agent.
- If you do live outside of Louisiana but still want to transact business inside the state, you just need to provide the Secretary of State Office an Application for Authority to Transact Business In Louisiana and pay a fee.
If you want to go ahead with getting your business started in the state famous for its creole and steamboats, or if you have any questions, go ahead and give us a call at (877) 692-6772!