Company Name | Words such as “Limited Liability Company,” “LLC” or “L.L.C.” must be included at the end of the LLCs’ name For LLCs, the words “Partner” or variations are not allowed to be used. In addition, the word “Trust” also cannot be used. The LLCs’ names cannot be similar or the same to any domestic or foreign-qualified LLCs. The proposed name cannot contain language implying or stating that other than the LLC’s permitted purpose(s) stated in the Certificate of Formation. | Words such as “Corporation,” “Incorporated,” “Company,” “Limited” or an abbreviation thereof, must be included at the end of the corporations’ name For corporations in the banking business, words such as “Bank,” “Banking” or “Bankers” may be used while the word “Trust” cannot be used The corporations’ names cannot be similar or the same to any domestic or foreign-qualified corporations. The proposed name cannot contain language implying or stating that other than the corporation’s permitted purpose(s) stated in the Articles of Incorporation. |
Board of Directors | For LLCs, the minimum requirement of the managers/members is one or more. There is no residency requirement for the managers/members The appointed directors of the LLCs must be at least 18 years old or older. Managers & members’ addresses and names are not required to be listed in the Certificate of Formation | For corporations, the minimum requirement of the directors/shareholders is one or more. There is no residency requirement for the directors/shareholders The directors of the corporations must be at least 18 years old or older. Directors & shareholders’ addresses and names are not required to be listed in the Articles of Incorporation |
Other requirement | Annual Report: LLCs are required to file the annual report due on or before April 15th of every year. Registered Agent: The physical address and name of the registered agent must be listed, including the information of the normal business hours to accept important legal documents from the government. Employer Identification Number (EIN): LLCs who want to open a business bank account is required to have an EIN. Furthermore, with employees working in LLCs, EINs are also required. There is no state tax identification number needed in Mississippi. | Annual Report: Corporations are required to file the annual report due on or before April 15th of every year. Stock: the Articles of Incorporation must list the authorized shares and par value. Registered Agent: The physical address and name of the registered agent must be listed, including the information of the normal business hours to accept important legal documents from the government. Employer Identification Number (EIN): Corporations that want to open a business bank account is required to have an EIN. Furthermore, with employees working in corporations, EINs are also required. There is no state tax identification number needed in Mississippi. |