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LLCs can have an unlimited number of members; S corps can have no more than 100 shareholders (owners). Non-U.S. citizens/residents can be members of LLCs; S corps may not have non-U.S. citizens/residents as shareholders. S corporations cannot be owned by corporations, LLCs, partnerships or many trusts.
What does LLC Ohio mean?
Pursuant to Ohio Revised Code Section 1706.16(D), a limited liability company is formed when the articles of organization are filed by the secretary of state or at any later date or time specified in the articles of organization.
How much does an LLC cost Ohio?
How much does it cost to form an LLC in Ohio? The Ohio Secretary of State charges a $99 fee to file the Articles of Organization. It will cost $39 to file a name reservation application if you wish to reserve your LLC name prior to filing the Articles of Organization.
Who can be a member of an Ohio LLC?
It is possible to act as your own statutory agent or select another member or employee of the LLC to do so. To qualify, the person must be an Ohio resident who is at least 18 and has a physical address within Ohio. Hiring an outside business to act as a statutory agent on your LLCs behalf is also an option.
Revised LLC Act - Effective 2022 - Ohio Secretary of State
The new LLC Act clarifies that limited liability companies may be formed for either purpose, but our office will now designate all entities as limited liability
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