To successfully set up Shopify Payments for your U.S.-based, limited liability company (LLC), follow these streamlined steps:

1. Access Your Shopify Store: Log into your Shopify online store.

2. Update Store Address:

   • Navigate to ‘Settings’ and then select ‘General’.
   • In the ‘Store address’ section, ensure your company’s legal name and address are accurately entered. The country should be set to the United States.

3. Save Address Changes: After updating your store address, remember to click ‘Save’.

4. Configure Payment Settings:

   • Go back to ‘Settings’ and choose ‘Payments’.
   • Click on ‘Activate Shopify Payments’.

5. Fill in Business Details:

   • For business type, choose ‘Private Limited Company’.
   • Enter your legal business name.
   • Your Employer Identification Number (EIN) should be at hand. If it’s not, retrieve it through the IRS or your company’s registration documents.
   • Indicate ‘No’ for VAT number.
   • Double-check that your company address is correctly listed.

6. Enter Personal Details:

   • Input your personal information, including your residential address.
   • If you’re the sole owner, select the option indicating you’re the only owner.
   • Describe your product offerings in the ‘product details’ section.
   • For the statement descriptor, input your company name.

7. Bank Information:

   • Enter the details of your bank account from a provider like Wise or Mercury.

8. Complete Setup: Finally, click ‘Complete account setup’ to finalize the process.

By following these steps, you’ll be able to smoothly activate Shopify Payments for your U.S. LLC, ensuring a seamless transaction process for your business.