How to Get a Free LLC in 2024: A Complete Guide

Starting a Limited Liability Company (LLC) is a great way to protect your personal assets while growing your business. While you cannot avoid the mandatory state filing fees, there are ways to set up your LLC without paying for a formation service. In this article, we’ll guide you on how to get a free LLC in 2024, avoiding unnecessary costs and using simple strategies to help your business get off the ground without breaking the bank.

We’ll also show you how to get key items like an Employer Identification Number (EIN) and an Operating Agreement for free. So, if you’re looking to form a free LLC in 2024, this guide will show you how to do it.

What Does "Free LLC" Really Mean?

To clarify, forming a free LLC means not paying for a formation service, but you will still need to cover the state filing fee. This fee can range anywhere from $35 to $500 depending on your state. While the state fee is unavoidable, you can still form an LLC without paying a service to assist you, and that’s where the concept of a "free LLC" comes in.

The Best Formation Service for a Free LLC: Business Anywhere

One of the best formation services to help you set up your LLC for free is Business Anywhere. Unlike many other formation services that bundle unnecessary features into expensive packages, Business Anywhere allows you to select only the services you need. This keeps your costs low while ensuring you get expert help where necessary.

If you decide to add additional services later, you can use the code "BEGIN15" at checkout to save 15% on any add-ons.

Steps to Get a Free LLC in 2024

1. Choose Your LLC’s Name

Your first step in forming a free LLC is to choose a unique name for your business. Keep in mind the following rules:

• The name must include “LLC” or “Limited Liability Company.”
• Avoid using words like "bank," "insurance," or anything that could mislead people about the nature of your business.
• Ensure your LLC’s name is available by checking your state’s Secretary of State website.

2. Select a Registered Agent

A registered agent is required for all LLCs. This person or service will receive legal documents and state notices on your behalf.

• You can be your own registered agent, but your address will be publicly listed, and you must be available during business hours.
• Business Anywhere offers a free registered agent service for the first year when forming your LLC with them. After the first year, this service will cost $147 annually.

3. File Your Articles of Organization

The Articles of Organization (or Certificate of Formation) is the official document you submit to the state to form your LLC.

• This document includes your business name, address, and registered agent information.
• Filing fees vary by state, but Business Anywhere helps you file these documents for free. You'll only need to pay the state fee, which ranges from $35 to $500, depending on your state.

4. Obtain a Free Employer Identification Number (EIN)

An EIN is like a Social Security number for your business and is required for tax purposes, hiring employees, and opening a business bank account.

• You can get your EIN for free directly from the IRS website. The application process is quick and only takes about 10 minutes.
• Business Anywhere also offers to get your EIN for you for $97 if you'd prefer someone else handle it.

5. Create an Operating Agreement

An Operating Agreement outlines how your LLC will operate, detailing the roles of members and how profits are shared.

• You can create an Operating Agreement for free by using a template from Northwest Registered Agent.
• If you have a more complex business with multiple members, you may want to hire a lawyer to help you draft this document.

6. Open a Business Bank Account

It’s crucial to keep your personal and business finances separate. Opening a business bank account helps maintain your LLC’s limited liability protection.

• Many banks offer free business checking accounts, including BlueVine and American Express, which even pay interest on your balance.

7. File a Beneficial Ownership Information Report

Starting in 2024, LLCs are required to file a Beneficial Ownership Information Report with the Financial Crimes Enforcement Network (FinCEN).

• This report discloses information about the primary owners of the LLC. You have 90 days after forming your LLC to file this report.
• You can file it for free on your own or pay a service like Business Anywhere $25 to handle it for you.

8. Optional: Add Additional Services with Business Anywhere

If you need additional services, such as a virtual mailbox or assistance with tax filings, Business Anywhere offers these as individual add-ons, which keeps your costs low.

• Use the code "BEGIN15" at checkout to save 15% on any extras you choose.

Why Choose Business Anywhere for Your Free LLC?

Business Anywhere offers one of the most affordable ways to form a free LLC by allowing you to pick only the services you need. Here’s why they stand out:

• Free Formation Service: Pay only the state fee to form your LLC.
• No Bundled Packages: Add individual services instead of purchasing unnecessary bundles.
• Free Registered Agent Service: Enjoy a free registered agent for the first year.
• Customizable Options: Add extras like EIN service, virtual mailboxes, and operating agreements as needed.

Conclusion

Forming a free LLC in 2024 is entirely possible if you follow these steps and use the right services. While you can’t avoid paying the state fee, services like Business Anywhere allow you to get expert help at no additional cost, making it easier than ever to start your business without unnecessary expenses. Whether you do everything yourself or use a service, forming your LLC the right way will set your business on the path to success.

Frequently Asked Questions (FAQs)