How To Form an LLC in Ohio (Cheapest way!) Jan 25, 2021 Starting a business in Ohio offers numerous perks, from simple and manageable state regulations to low corporate and business taxes and widespread community support for local entrepreneurs. Whether you are creating a new business or are an established sole proprietor, forming a limited liability corporation (LLC) in Ohio can be an excellent way to limit personal liability for business-related debts and legal proceedings. Not only does an LLC reduce your personal liability in the event of business debt or lawsuits, but it also allows members to officially organize the ownership, management structure, and taxation of the business within a flexible framework.