LLC Help Guides

Once an LLC has filed its certificate of formation, it should also complete the LLC operating agreement. Although the operating agreement is not compulsory under the law, it is essential for protecting limited liability status, preventing disputes among members, and ensuring that the company follows legal formalities. Without an LLC operating agreem...

Formation To form an LLC, complete and file your articles of organization (sometimes called a certificate of formation). Governance Although you do not need to file an LLC operating agreement, this is a core document that defines who owns the LLC, how it will be managed, how the membership will handle profits, and more. Ownership Although many LLCs...

Forming a limited liability company (LLC) has many advantages. An LLC is not a partnership or a corporation but rather an entity that displays features common to both business types. It contains a deeper level of personal asset protection than the sole proprietorship and provides for simplified tax accounting. An LLC's owners are referred to as "mem...

An LLC is a pass-through entity. That means that the earnings of the LLC are actually taxed through the owner or owners of the LLC. That also means that there are no federal corporate taxes that are imposed on the LLC and it is ultimately a saving for the business. As such, the owner or owners report the profits and losses on their own individual in...

Are you ready to start and form an LLC for your new business? We have provided the simple steps that you will need to take below in order to help you get your LLC set up online with ease. Before you start a company, you need to decide which entity to use. Each entity type is taxed differently. Depending on your company size and structure, those tax...

Although a dissolution of an entity, or closing it down in simple terms, is never something that people plan on doing when they open up a business, it does not mean that it does not happen. Also, it does not have to mean that the business is closing. In fact, a dissolution of an entity could simply be the result of wanting to change how the company...

Once your company votes on bringing in a new member, you should ensure that you integrate the new member properly, including their contributions. The LLC admission agreement allows you to add the new member or members and information about them, including their names, descriptions of their contributions, interests sold, payment terms, and the specif...

Limited liability companies (LLCs) can be an extremely beneficial business structure for large and small companies alike. They are extremely flexible and offer many of the benefits of corporations without all of the paperwork and other requirements. For these reasons, LLCs are a popular choice for many new business owners. LLCs also work well for th...

When business professionals want to know the legal differences between a limited liability company (LLC) and a corporation, the underlying issue is which entity will benefit the business most. This is a complicated question that will depend on your business plan and issues like tax obligations, asset protection, foreign investment needs, and much mo...

Limited liability companies (LLCs) are a hybrid legal entity that offer small businesses two attractive benefits: pass-through taxation and limited liability. Someone who wants to grow their company without access to startup capital can use business losses to offset the taxes on other income—an attractive option when you are first starting out. At t...