Limited Liability Company Organization
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A
Limited Liability Company, or LLC, is a business entity created
which has the characteristics of both a corporation and a partnership.
An LLC enables the owner or the members to pass income through to their
personal tax returns. You can organize either a one-member LLC, or a
multi-member LLC. An LLC has the following advantages:
- LLCs are easy to organize and maintain;
- Members are insulated from the debts of an LLC, just like a
corporation;
- Income and losses can be passed through to members as in a sole
proprietorship or partnership;
- LLCs are more informal in terms of maintenance;
- An LLC can have very flexible management and you can structure
ownership in different ways. For example, you can have a Managing
Member who gets a certain level of income and profit, and limited
members who receive less income and profit, just like a limited
partnership.
Selecting a Legal Structure for Your Business
Chart
comparing Different Forms of Business Structure
Articles of Organization for an LLC - $29.95
These forms are for use by a person or persons who wish to file for
incorporation of a limited liability company (LLC). Each form set includes
specific instructions on where to file including required filing fees.
LLC Operating Agreement - $39.95
This product is used to create a Management Operating Agreement for a limited
liability company.
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