An LLC (Limited Liability Company) is a business structure that may be used to separate business debts and assets from personal debts. Often these are created by small businesses with a single owner. They are formed easily by visiting the website of your state’s Secretary of State. Once the LLC is formed, you can visit the IRS web page and get an “EIN” which is a taxpayer identification number for your new business.

Keep the certificates and documents forming your LLC and giving you a tax id number. You will need those to set up business bank accounts and other accounts with the government that your business might require.