How Long Does it Take To Get an LLC and Do You Need One?

How long does it take to get an LLC with Kelly and Kristin from Dotted Lines

You’ve just launched your business, something you’ve been dreaming of for ages! You’re excited to put your skills and expertise to work, helping others and making a lasting impact. But as you dive into the nitty-gritty of the legal side, LLCs keep popping up. Now you’re asking yourself, 'Do I need an LLC? Am I legally protected without one? And how long does it take to set it up?

That’s why we’ve put together this handy-dandy guide all on LLCs. Find out what an LLC is, if you need one, and how long it takes to set one up!

What is an LLC?

An LLC, or Limited Liability Company, is a type of business structure designed to keep your personal assets separate from your business assets. This means that if legal issues or debts arise, your personal belongings—like your home, car, and savings—are protected and not at risk. Phew!

Benefits of forming an LLC:

Limited Liability Protection: Any business legal issues remain separate from your personal wallet.
Flexible Management: Run your business solo or with partners—LLCs can adapt as your business grows.
Pass-Through Taxation: Skip the double taxation headaches. With an LLC, profits go straight to you, taxed just once.

LLC vs. Other Business Structures:

Sole Proprietorship: Easy to start, but your personal assets are on the line.
General Partnership: Shared responsibility, but also shared risk—your personal finances could still be at risk.
Corporation (C Corp and S Corp): Strong protection, but with more rules, paperwork, and possible double taxation (C Corp). Not a great choice for most solo entrepreneurs in the health & wellness & coaching spaces!

Do You Need an LLC?

For Business, Career, Life & Mindset Coaches:

As a coach, your reputation is everything. Clients need to know they’re in good hands—and forming an LLC can help build that trust. Not only does it protect your personal assets from potential legal issues (like a client dispute), but it also boosts your credibility. People tend to see LLCs as more legit and trustworthy, making it easier to attract and keep those high-quality clients.

For Health, Wellness, & Nutrition Professionals:

As a health and wellness professional, the stakes are high. Whether you're giving nutrition advice or leading wellness programs, there's always the chance something could go wrong. That's where an LLC comes in—it gives you a crucial layer of protection, keeping you safe if things don’t go as planned.

How Long Does It Take to Get an LLC?

Getting an LLC varies depending on where you live and how you file. Here’s a few things to keep in mind before filing for an LLC:

State Processing Times: Each state has its own way of doing things. Some states process LLC applications in just a few days, while others might take a few weeks … or longer for states like New York which have specific publication requirements. It all comes down to how quickly your state handles business filings.
Filing Method: If you opt for online filing, you’re likely to get faster results because the process is more streamlined and immediate. On the other hand, if you choose to file by mail, be prepared for a longer wait as your paperwork needs to be physically processed and filed.
Expedited Services: In a hurry? Most offer expedited processing for an additional fee. This service can cut down the timeline significantly, sometimes getting your LLC approved in just a few days, compared to weeks with standard processing depending on your state.

Why LLC Timelines Matter: If you need your LLC set up before signing contracts, launching services, or even opening a business bank account, knowing how long it takes can save you a ton of headaches! Being prepared means avoiding delays and keeping things running smoothly from the start.

Do You Need an LLC Agreement?

Forming an LLC is a big step toward protecting your business, but there’s one more piece of the puzzle you shouldn’t overlook—a solid LLC Agreement. But do you really need one?

An LLC Agreement (sometimes called an Operating Agreement or Company Agreement) is more than just a formality; it’s a crucial document that lays out how your LLC will be run. For a single-member LLC, it’s your blueprint for how your business will operate and is required by law to have in place.

This agreement specifies everything from how the entity will be managed and how expenses will be paid, to how profits will be distributed and how the business will be taxed. It also solidifies key details like your LLC’s address and the identity of its sole member—you.

Even if you’re the only owner, having an LLC Agreement in place helps you meet corporate formality requirements, which is essential for maintaining your limited liability protection. It’s your safeguard, ensuring that your business operates smoothly and that you’re fully covered in the eyes of the law.

If you’re forming a single-member LLC, an LLC Agreement isn’t just a nice-to-have—it’s a must-have. It provides clarity, structure, and the legal backbone your business needs to thrive.

Shop our DIY LLC Agreement contract template here!

Forming an LLC and More!

Forming an LLC is a great step toward taking control of your business’s future, but don’t stop there! Setting up an LLC is just the beginning of building a strong, legally protected foundation for your business. To truly maximize the benefits of your LLC, it’s crucial to ensure all your legal ducks are in a row.

That’s where our Legally Ready Bundle comes in. This comprehensive package is designed to take the guesswork out of your legal contracts, giving you the tools and resources to confidently run your business.

Whether you’re a coach or wellness professional, our bundle is tailored specifically to your industry. It covers everything from drafting airtight contracts to ensuring you meet all the necessary legal requirements, so you can focus on what you do best—growing your business!

ALTHOUGH KELLY AND KRISTIN ARE LICENSED ATTORNEYS IN THE STATE OF TEXAS, NEITHER THEY NOR DOTTED LINES CO., LLC ARE YOUR ATTORNEY, NEITHER THEY NOR DOTTED LINES CO., LLC HAS AN ATTORNEY-CLIENT RELATIONSHIP WITH YOU, AND NEITHER THEY NOR DOTTED LINES CO., LLC KNOWS YOUR BUSINESS. THE INFORMATION IN THIS POST IS NOT TO BE CONSIDERED LEGAL ADVICE, AND YOU SHOULD NOT CONSIDER IT A SUBSTITUTE FOR LEGAL ADVICE. WE ALWAYS RECOMMEND CONSULTING WITH AN ATTORNEY IN YOUR LOCAL JURISDICTION SINCE THEY WILL BE ABLE TO ADVISE YOU AS TO YOUR PARTICULAR SITUATION AND ALSO PROVIDE YOU WITH INFORMATION SURROUNDING ANY NUANCES OF YOUR LOCAL LAWS THAT WE SIMPLY CANNOT ADDRESS IN THIS POST. FURTHER, WE DO NOT GUARANTEE ANY SPECIFIC RESULTS. THE AUTHOR UTILIZED CHAT GPT TO CREATE TEXT INCLUDED IN THIS BLOG POST. AFTER GENERATING THE LANGUAGE, THE AUTHOR REVIEWED, EDITED, AND REVISED THAT LANGUAGE TO THEIR OWN PREFERENCE. THE AUTHOR TAKES RESPONSIBILITY FOR THE CONTENT IN THIS PUBLICATION.