[cscotta]

This a great, succinct guide - glad to see it.

One very important step five to add: check with your state's Secretary of State office to see if there are any additional steps that must be taken. Many states require foreign-registered LLCs and corporations to submit an "application for authority to transact" or otherwise register with them.

Depending on where you're located, a local business registration fee or license may be required as well.

It's also important to apply for an EIN number, which is generally required before opening a bank account in the business' name, and for tax purposes: https://sa2.www4.irs.gov/modiein/individual/index.jsp

There may be other steps that I'm missing, but as with any guide to navigating these waters, always ask for help in your particular situation, and don't be afraid to (indeed, please do!) consult a lawyer.

[mmorris]

check with your state's Secretary of State office to see if there are any additional steps that must be taken. Many states require foreign-registered LLCs and corporations to submit an "application for authority to transact" or otherwise register with them.

Definitely important to check on the rules specific to your state.

In addition to just acquiring permission to operate, there are sometimes tax specific requirements too. For example, in New York there is a separate, state-level S-corporation election. Even if you are already a federal S-corp you need to submit to the state in order to be treated as an S-corp on your state taxes.

[tocomment]

I made an LLC in Maryland and I didn't get an EIN. I used my SSN to open a business checking account.

Would it be worth going back and getting an EIN? Would I be able to change the bank account? What would the benefits of doing that be?

[techsupporter]

In general, the taxpayer ID used to open the account is the taxpayer that owns the account. I am the treasurer of a small non-profit, and the non-profit's EIN is listed on our checking account. Having my SSN on there--except as identification that I'm authorized to perform transactions on the account--would have made me an owner, which is not what we wanted. Check with your bank to be certain, but I would change the account's EIN to your LLC's.