If you are trying to form an LLC in Mississippi, then take note that in this state, starting an LLC requires having a Mississippi registered agent who will handle all official paperwork on the LLCs behalf.
On this page, you’ll learn about the following:
Mississippi Registered Agent Requirements
There are certain requirements to fill the role of a Mississippi registered agent:
- The nominee must be more than 18 years old.
- The individual must have a legal, physical address in the state where the LLC will operate.
- The individual must be physically present during normal working hours.
How to Choose a Registered Agent?
When you file your Certification of Formation in Mississippi, you must nominate a registered agent. You can either appoint an in-house registered agent (yourself or any LLC member) or outsource to a Mississippi registered agent service. You can elect your registered agent online through the Mississippi Secretary of State website.
Hiring an Inhouse Registered Agent
When hiring an in-house registered agent, make sure the individual is over 18 of age and lives in Mississippi.
Can I be My Own Registered Agent?
Yes, you can be your own registered agent. So long as you meet the basic requirements for a registered agent, then you can take on this role for your LLC.
Outsourcing a Registered Agent
You may, instead, get professional registered agent services. Doing so ensures that you will have the best individual to represent your business. Here are the best LLC services on our list that will provide you with registered agents to ease your worries.
Note that availing of the services of professional registered agents would be your best option since you are guaranteed that whoever is handling your legal affairs knows their stuff well. You will enjoy peace of mind and focus only on running your business, as the ‘professionals’ take care of all legal matters.
What to Consider When Choosing a Registered Agent
Here are some factors to consider when choosing a registered agent.
- Service Fee: Since most states require formal businesses to have registered agents, selecting the best-registered agent is critical. Hiring a registered agent service typically costs between $50 and $300 annually. When you consider how much time it will save you, this is a small price to pay.
- Tenure in Business of Registered Agent: You want the registered agent to have established and time-tested procedures for handling documents that are received.
- State Jurisdiction Limitation: If your company expands to another state, you should use the same registered agent in all states to reduce the administrative burden of dealing with multiple registered agent service providers.
- Offer Monitoring and Follow-up Services: You want to receive up-to-date information and alerts from your registered agent as soon as possible so that you are aware of the various statutes, rules, and regulations that apply to your company.
Mississippi Business laws and Registered Agent
Registered agents are responsible to handle all the business laws and other legal issues related to Mississippi LLC. Every state has its own business laws. Mississippi is no exception. It has its own set of different business laws to follow. Here are some of the important business laws every business should follow.
- Mississippi Antitrust Laws: Antitrust laws regulate and prevent anti-competitive practices in any open market by levying heavy penalties and punishment against such activities. These laws counter the formation of cartels, monopolies, or any barrier created for new entrants in the market.
The Mississippi Trusts and Combines in Restraint or Hindrance of Trade Code prohibit any agreement in restraint of trade, product monopolization, price-fixing, quantity fixing, acquisitions executed to reduce competition in the market, knowingly issuing or holding stock certificates of any trust, and any unfair methods of competition. Public Contract fraud is also prohibited in the State.
The State allows a successful plaintiff to recover attorneys’ fees. Other penalties levied on the offender are a fine of $100 to $5000 for the first offense and a fine of $200 to $10,000 for a subsequent offense, injunction, unenforceable contracts, and losing their business license. Public contract fraud is considered a misdemeanor with a fine of $25 to $1000.
- Mississippi Civil Statute of Limitations: Every lawsuit must be filed within a certain period of time after the occurrence of the incident as per the Statute of Limitations. In general, the time period for filing a lawsuit in Mississippi varies between 2 years to 7 years. Suits for crimes such as injury to person and property, and slander should be filed within 3 years of the incident, while disputes relating to rents, collection of debts, and contracts should be brought before the court within 3 years from the date of breach/dispute. For judgments, the suits can be filed within 7 years for both domestic and foreign judgments.
- Mississippi Wage and Hour Law: The Employers in Mississippi must abide by the wage and hour laws prescribed under the U.S. Fair Labor Standards Act. The minimum wage is set at $7.25 per hour. The minimum wage for a tipped employee is $2.13 per hour as long as the combined wage equals the federal minimum wage of $7.25 per hour. Any employee who works for more than 40 hours in a week should be compensated with overtime pay which is 1.5 times the regular hourly rate.
Any employer found in violation of the laws shall be liable to civil penalties and action can be instituted to recover the full wage amount.
- Mississippi Interest Rates Laws: Every state in the United States has an Interest law for businesses. Normally, the general interest rate guidelines are less than the legal threshold of interest rate. Mississippi has laws to limit the interest rates and significantly high-interest rates are considered unlawful and open to criminal prosecution. The maximum legal interest rate is 8%. The contract rates should not exceed greater than 10% or 5% above the discount rate. The interest rate on judgments is determined as per the contract rate or as set by the judge. The penalty for usury can render such contracts in violation of the interest laws as void and the debtor may recover 100% of the amount paid, and the offender to be held guilty of a misdemeanor and fined up to $1000.
- Mississippi Pyramid and Ponzi Scheme Laws: Any pyramid or Ponzi scheme is considered illegal in Mississippi as they are contrary to the public policy of the State. These schemes are deceptive in nature and participating in or organizing such activities is prohibited by the laws of the State. Penalties for participating in such activities include imprisonment of up to 6 months and a fine of $500. Committing such a practice is a misdemeanor with fines of up to $1000 for the first offense and imprisonment up to 1 year in addition to a $1000 fine for a second offense committed within 5 years of the last offense. The third offense shall be considered a felony punishable with imprisonment up to 5 years and a fine up to $5000.
- Mississippi Deceptive Trade Practices Laws: The State of Mississippi aims to protect its residents from unfair business practices. Such practices mislead the consumers into investing in invaluable market products by selling them with twisted statements and lies such as false advertising. The laws specifically prohibit false advertising and odometer tampering.
For remedies to the plaintiff, the court can order restoration of money or property, imposition of civil penalty up to $10,000 for a willful violation, and recovery of attorneys’ fees. Odometer tampering is considered a misdemeanor and punishable with fines of up to $500 and/or imprisonment of up to 6 months.
The Registered Agents are the people who act as points of contact between your business and the State Authorities. They assist your business in ensuring compliance with all regulations and codes of the State. Hiring a registered agent in Mississippi will help you handle your business in a smooth and legally compliant manner.
How to Remove a Registered Agent for LLC in Mississippi
A registered agent for LLC in Mississippi can be removed by Filing an Amendment with the Mississippi Secretary of State with a filing fee of $10.
Listed below are some common reasons you may need to remove a Registered Agent for your LLC in Mississippi. You may have moved to a different state, or perhaps you just don’t want your address on public record anymore. Or maybe your business is growing and you no longer have time to handle all of the registered agent responsibilities. Whatever the reason, it’s important to learn how to remove your LLC’s registered agent.
Before removing your LLC’s registered agent in Mississippi, you should review its operating agreement. Operating agreements are legal contracts between LLC owners and management that detail how the business will be run. While this document isn’t necessary, it is important for the LLC to have one in case of legal issues in the future. You can also use it to clarify issues about the LLC with the Registered Agent if needed.
To remove your LLC’s registered agent in Mississippi, you’ll need to fill out a Change of Agent form. Make sure you have the proper address, and that it’s open during business hours. If you’ve already set up your LLC, you can simply submit the form online. If you’d like to change your registered agent, you can do so at any time using the state website. It will take the state about 24 hours to process your form.
You can remove your LLC’s registered agent in Mississippi at any time by filing the appropriate paperwork with the Secretary of State. However, you’ll have to pay a fee of $50. You can pay by credit card, cash, or money order. Remember that your new registered agent must be able to accept all documents and have an office in Mississippi during business hours. When changing your registered agent, you need to include the name and address of your new agent on the form.
Once you’ve changed your registered agent, you can change to a new one or switch to a new one. However, it’s important to choose a reliable and affordable service – one that can focus on growing your business instead of worrying about managing your LLC. In the meantime, you can focus on improving your business. So, if you’re wondering how to remove a Registered Agent for LLC in Mississippi, here’s what you should do.
Choosing a name for your LLC is a critical step in forming a Limited Liability Company in Mississippi. Make sure you choose a name that is easy to remember and available in Mississippi. Also, make sure that the name doesn’t already exist as a business in the state, as that could result in conflicts. Once you’ve chosen a name, be sure to use the suffix “Limited Liability Company” to avoid any confusion with other businesses.
An LLC in Mississippi is subject to annual filing requirements with the state’s Secretary of State. LLCs must file an annual report online by April 15th each year. It’s best to do this online, where you won’t need to pay a fee. In contrast, a certificate of formation in Mississippi costs $50 and can be processed the same day, so removing a Registered Agent for an LLC in Mississippi can save your company from creditors and a major headache.
All corporations and limited liability companies doing business in Mississippi are required by state law to appoint a Mississippi registered agent. Mississippi registered agents provide a reliable way for the Secretary of State and state courts to contact a corporation or LLC.
A registered agent is simply a person or entity appointed to accept service of process and official mail on your company’s behalf who lives in the state of service and is over 18.
If you intend to be your own registered agent, you may be forced to use your home address (especially if you run a home-based or web-based business), making the address public.
Before you choose a registered agent for your Mississippi LLC, compare their price and services from the table. They will be responsible for all your documentations, filings, and other LLC-related tasks. Hence, choose the best one for your business that provides 100% accurate service at a reasonable price.