How Much Does an LLC Cost in Mississippi? (2024 Filing Fees)

Starting an LLC in Mississippi can be more affordable than you might think, especially since no annual fee is required. Forming an LLC is approximately $50, which covers the filing fee for the Certificate of Formation.

But that’s not all..

While the Certificate of Formation costs $50, you might encounter extra costs for registered agent services, name reservations, and local licenses.

Let’s explore everything you need to know about the complete cost of an LLC in Mississippi.

How Much Does an LLC Cost in Mississippi?

Starting an LLC in Mississippi comes with various costs. Here’s a breakdown of what you need to know:

• Formation Fee: You pay $50 to file the Certificate of Formation with the Mississippi Secretary of State.
• Annual Report: Mississippi LLCs do not need to file an annual report, so this requirement has no ongoing costs.
• Registered Agent Services: If you use a registered agent, fees can range from $100 to $300 per year, depending on the provider.
• Business Licenses: Depending on your business type, you may need specific permits or licenses. Costs vary by city and industry.
• DBA (Doing Business As): If you want to operate under a different name, you must file for a DBA, which costs around $25.
• Certificate of Good Standing: If you need this document for other businesses or banks, expect to pay about $25.
• Taxes: LLCs are typically subject to state and possibly federal taxes, depending on your income and business structure.

LLC Costs in Mississippi (Formation Fees)

Here’s a table outlining the costs of setting up your Mississippi LLC.

Mississippi LLC Requirements	Cost
LLC Business Name Search	$0
Certificate of Formation	$50
Operating Agreement (optional)	$0 (with Northwest)
EIN Number	$0 (free from IRS)
Annual Report	$0
LLC Name Reservation Fee (optional)	$25
Certificate of Good Standing (optional)	$25
Foreign LLC Registration (optional)	$250
Fictitious Name (DBA) (optional)	$25
Taxes	Varies
State Business License Fees	Varies
Registered Agent Services (optional)	$0-$125 (Northwest)
LLC Formation Services (optional)	$39
Total LLC Costs in Mississippi	$50 – $639

Total Mississippi LLC costs range from $50 to $639. If you do everything yourself and skip the optional extras, you might only spend around $50. However, if you decide to pay for additional services and requirements, your costs could go up to between $250 and $639.

The first mandatory expense is the $50 fee for filing the Certificate of Formation, which is essential for officially establishing your LLC. Notably, there is no annual report fee in Mississippi.

Now, let’s discuss the optional costs.

Additionally, conducting an LLC business name search is free, and obtaining an Employer Identification Number (EIN) is free from the IRS. An Operating Agreement is recommended but can be obtained at no cost using services like Northwest. Reserving your LLC name will typically cost $25.

You may also want a Certificate of Good Standing, which costs $25. Registering a foreign LLC in Mississippi incurs a fee of $250. Operating under a different name (DBA) also costs $25.

Regarding registered agent services, you can either act as your agent at no cost or hire a professional service, which typically ranges from $100 to $300.

Mississippi LLC Business Name Search Cost ($0)

When starting an LLC in Mississippi, checking the availability of your desired business name is an important step. The great news is that this search costs you nothing.

You can conduct a business name search directly on the Mississippi Secretary of State’s website. This resource is user-friendly and available to anyone looking to see if their preferred name has already been taken.

It is crucial to choose a unique name that complies with state rules. Your name cannot be the same as any other registered business in Mississippi.

By taking advantage of this free service, you can avoid naming conflicts and ensure a smoother LLC formation process. A proper name search saves you time and potential headaches later on.

Mississippi Certificate of Formation ($50)

To start an LLC in Mississippi, you must file the Certificate of Formation. The filing fee for this document is $50. This is a one-time cost you pay the Mississippi Secretary of State.

Filing the Certificate of Formation is the key step in officially creating your LLC. After you submit this form and pay the fee, the state will recognize your LLC.

The Mississippi LLC processing time is 1-2 business days. The Mississippi Secretary of State’s office has streamlined the process to make it fast and simple for new business owners.

Before submitting your application, ensure your LLC name is unique and follows state guidelines. If you need more time to decide on a name, you can reserve it for up to 180 days for $25.

LLC Operating Agreement Cost in Mississippi ($0 with Northwest)

When starting your LLC in Mississippi, an operating agreement is important. It outlines how your business will run, including member roles and responsibilities.

The good news is that you can get your LLC operating agreement for $0 if you use Northwest Registered Agent. They offer this service to help you establish your LLC properly.

Mississippi law does not require an operating agreement, but it is highly recommended. It helps prevent misunderstandings among members or owners about how decisions will be made and profits shared.

Here’s a quick overview of what the operating agreement covers:

• Ownership Structure: Details who owns what percentage of the LLC.
• Management: Explains how the business will be managed and operated.
• Profit Distribution: States how profits and losses will be divided among members.

Using Northwest, you can easily access templates and guidance to create your document. This ensures that you comply with the best practices for running your LLC.

Mississippi Registered Agent Fee ($0-$300/year)

When forming an LLC in Mississippi, you need a registered agent. This can be someone you choose or yourself.

There is no fee if you act as your registered agent. You provide your name and address.

If you hire a professional Mississippi registered agent, fees can vary. Most registered agent services charge between $100 and $300 per year. For instance, LegalZoom typically costs about $249 annually, while ZenBusiness offers services for $199.

A competitive option is Northwest Registered Agent. They offer free registered agent services for the first year if you use them to form your LLC. After that, their fee is $125 per year, which remains lower than many other services.

If you prefer using a registered agent, remember that while it costs money, these services can protect your privacy and offer additional support. You’ll receive important legal documents on your behalf, which can help you stay organized and compliant.

EIN Cost in Mississippi ($0 from the IRS website)

When starting an LLC in Mississippi, you need an Employer Identification Number (EIN). This number is important for tax purposes and helps identify your business. The good news is that obtaining an EIN is free.

You can apply for your EIN through the Internal Revenue Service (IRS) website. The process is simple and can be completed online.

Avoid third-party websites that may offer to apply for your EIN for a fee. These sites can charge for a completely free service through the IRS.

Mississippi Annual Report ($0)

In Mississippi, filing an annual report for your LLC is free. This means you don’t have to worry about additional costs each year.

You must complete this report annually. It’s a simple task that helps keep your business information current. You can find and submit your report using your state business ID.

After forming your LLC, you’ll receive more details on how to file your report. Keeping this document current is essential. It ensures that your business remains in good standing with the state.

Unlike many states that charge annual report fees, Mississippi’s $0 fee can save you money. This approach makes it easier for small businesses to thrive without financial burdens.

LLC Name Reservation Fee in Mississippi ($25)

If you want to start an LLC in Mississippi, reserving your business name is important. The reservation fee for your LLC name is $25. This fee is paid to secure your name for up to 180 days before you officially form your LLC.

Fill out the LLC Name Reservation form on the Mississippi Secretary of State’s website to reserve your name. This process is straightforward and can be completed online.

This reservation ensures that no one else can use your chosen name while you prepare to set up your business. It’s a smart move if you have a specific name in mind and want to avoid potential conflicts with other businesses.

Once your reservation is confirmed, you can focus on the next steps to create your LLC. If needed, you can extend your reservation for another 180 days, but you must pay the fee again.

Fictitious Name/DBA Cost in Mississippi ($25)

In Mississippi, if you want to operate your business under a name different from your legal business name, you need a DBA, “Doing Business As.” The cost to register a DBA in Mississippi is $25.

When you file for a DBA, it is important to check if your desired name is available. You can do this through the Mississippi Secretary of State’s Business Name Search. This step helps ensure that no one else uses the same name.

If you need to renew your DBA, you must also pay a $25 renewal fee by December 31st, the fifth anniversary of your registration.

Filing can be done online, making the process easier and more convenient. Remember, while a DBA allows you to operate under a different name, it does not offer legal protection like an LLC or corporation.

Mississippi Certificate of Good Standing ($25)

A Certificate of Good Standing is an important document for your LLC in Mississippi. It shows that your business is officially recognized and compliant with state regulations.

To get this certificate, you’ll need to pay a $25 fee, typically paid to the Mississippi Secretary of State.

You should request this certificate if you plan to conduct business outside Mississippi. Many banks and lenders may also ask for it when applying for loans or opening business accounts.

Obtaining your Certificate of Good Standing is simple. You can apply online through the Mississippi Secretary of State’s website.

Mississippi Foreign LLC Registration Fee ($250)

If you plan to register a foreign LLC in Mississippi, you must pay a $250 registration fee. This fee applies to companies formed outside of Mississippi that want to operate in the state.

To begin registration, you must complete an online application. Please note that you can’t register in person or by mail.

Before applying, you need a few things. First, you must appoint a registered agent located in Mississippi. This agent will receive legal documents on behalf of your LLC.

Additionally, you’ll need a Certificate of Existence from your home state. This document shows that your business is valid where it was formed.

An $8 credit card processing fee will be added when submitting your application online.

The registration process is typically quick and can take 2 to 3 weeks. If you prefer faster registration, you can expedite the process for quicker results.

Mississippi Business License and Permit Fees (varies)

In Mississippi, there isn’t a general statewide business license. Instead, every business needs a sales and use tax permit. You can get this permit through the Mississippi Taxpayer Access Point (TAP) online. The good news is that there is no fee to register for this permit.

With this permit, you can collect the state’s sales tax, currently at 7%.

Depending on your business type, you might need additional licenses. This can include local or professional licenses. Each of these can come with different fees based on your location and the nature of your business.

Mississippi LLC Taxes (varies)

When you form an LLC in Mississippi, you should know that taxes can vary widely. By default, Mississippi LLCs are treated as pass-through entities. This means your business income is reported on your tax returns.

• Federal Taxes: You are subject to federal income tax and the self-employment tax of 15.3%.
• State Income Tax: Mississippi charges a personal income tax that begins at 4%.
• Local Income Tax: Depending on your location, you might also face local taxes.
• Business Taxes: These vary based on your LLC’s activities.
• Sales and Use Tax: You may have to collect and pay sales tax on goods sold.
• Payroll Tax: If your LLC has employees, you must account for payroll taxes.
• Property Tax: Ownership of property can lead to property tax obligations.

Your specific tax situation depends on several factors, including your industry and the nature of your business activities.

Mississippi LLC reinstatement fee ($50)

If your LLC in Mississippi has been administratively dissolved, you can reinstate it for a fee of $50. This fee is required to process your reinstatement application.

To begin the reinstatement, you will need to complete a specific form called the Mississippi Application for Reinstatement Following Administrative Dissolution and provide a tax clearance letter from the Mississippi Department of Revenue.

When you submit your application, include a $50 check. Write this check to the Mississippi Secretary of State.

You will then mail your completed application and payment to:

Secretary of State
P.O. Box 136
Jackson, MS 39205-0136

Remember, prompt payment of this fee and submission of the required documents will help you more efficiently regain your LLC’s good standing.

Mississippi LLC dissolution fee ($50)

To dissolve your LLC in Mississippi, you must pay a $50 filing fee. This fee is for submitting the Article of Dissolution to the state.

When you decide to close your LLC, you file this document with the Mississippi Secretary of State. It officially ends your business’s legal status.

Before filing, hold a formal vote among your members, as required by state law or your operating agreement. You must also pay any outstanding taxes and close tax accounts.

After paying the fee, keep a record of the submission. This indicates that you have completed the dissolution process. Ensure that you comply with all local regulations to avoid any future issues.

Mississippi LLC Change of Registered Agent fee ($50)

Changing your registered agent in Mississippi requires a $50 fee. You must pay this amount to update the state’s records with your new agent information.

A registered agent is responsible for receiving your LLC’s legal documents and official notices. If you decide to change your agent, it is important to keep your business compliant with state regulations.

To process the change, you must complete the appropriate form provided by the Mississippi Secretary of State. Ensure that all details are accurate to avoid delays.

Once you submit the form with the fee, the state will update its records. The processing time for this change can take a few days, so plan accordingly.

You can act as your registered agent or hire a service. If you hire a service, you should check their fees, which vary.

What is the Cheapest Way to Start Mississippi LLC?

Starting an LLC in Mississippi can be done in a few different ways. The most common methods include doing it online, hiring a service, or using a lawyer.

If you choose the DIY route, you will only pay the $50 state filing fee. This fee is for filing the Certificate of Formation with the Mississippi Secretary of State. Completing the forms online is straightforward and saves you money.

Another option is to hire an online formation service. Some companies offer packages for as low as $39 plus the state fee, which is still $50. Services like Northwest registered agents are popular for their affordability.

Using a lawyer can be more expensive. Legal fees can range from $300 to $1,000 or more. While lawyers provide valuable advice, this option is not the cheapest.

The cheapest way to start your LLC is to file online yourself. You save on service fees and keep costs to a minimum with just the state fee. However, you should be ready to handle all paperwork and any confusion with the filing process.

Consider your comfort level with legal paperwork. If you find it daunting, hiring a service might be worth the extra cost for peace of mind.

Should You Use an LLC Formation Service in Mississippi?

Deciding whether to use an LLC formation service in Mississippi depends on your comfort level with the process. Services like Northwest Registered Agent offer valuable help when starting your business. They simplify paperwork, making it easier for you.

• Privacy Protection: Using a formation service helps shield your personal information, keeping your address off public records and offering added peace of mind.
• Compliance Assistance: These services ensure your business remains compliant with state laws, managing deadlines and requirements so you don’t miss important paperwork.
• Expert Guidance: Access to LLC formation experts and attorneys provides tailored support. You can ask questions and get professional advice, helping you avoid feeling overwhelmed.

If you prefer a hands-on approach, you might handle the process yourself. But if you want a smoother experience with fewer headaches about paperwork, a formation service could be the right choice.

Frequently Asked Questions

What are the benefits of an LLC in Mississippi?

Forming an LLC in Mississippi protects personal liability, meaning your assets are generally safe from business debts. It also allows for flexible tax options, as you can be taxed as a corporation or a pass-through entity.

How do I start an LLC in Mississippi?

To start an LLC in Mississippi, you must choose a unique name for your LLC, file the Certificate of Formation online, and pay the $50 fee. You’ll also need to appoint a registered agent for your LLC.

Do I need a business license for an LLC in Mississippi?

Yes, while forming an LLC does not require a general business license, many cities and counties in Mississippi require specific licenses or permits to operate legally. Check local regulations for details.

How much does it cost to reinstate an LLC in Mississippi?

If your LLC has been administratively dissolved, reinstating it will cost $50. To bring your LLC back to good standing, you must submit a reinstatement application and pay this fee.

How much does it cost to dissolve an LLC in Mississippi?

Dissolving an LLC in Mississippi will cost you $50. However, any outstanding taxes or fees must be settled before you can complete the dissolution process.

Do I need to hire an attorney to form an LLC in Mississippi?

Hiring an attorney is not required to form an LLC in Mississippi. Many people complete the process independently using online resources and forms. However, legal advice can be helpful for specific situations.

Should I hire an LLC formation service in Mississippi?

Using an LLC formation service can simplify the process. These services handle paperwork and ensure compliance with state laws, saving you time and reducing errors.

Are there penalties for paying my fees late in Mississippi?

Yes, if you fail to pay the required fees for your LLC on time, you may face late fees or penalties. These can add up and affect your LLC’s standing with the state.

What happens if I do not file my Mississippi LLC annual report?

Not filing your annual report can result in penalties and potential administrative dissolution of your LLC. It is important to submit this report to maintain good standing.