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Limited Liability Company Forming

When forming a limited liability company or "LLC," there are certain factors to review, which must then be followed up with the applicable corporate formation procedure. Considerations include how the LLC will be managed, who will serve as the officers of the LLC, what are the assets of the company and how the earnings will be distributed. Once these matters are resolved, the LLC must be formally established. Each state has its own laws which specify the procedure in which the LLC must be established. Generally, the LLC must contain a name which is not already in use. This name should be checked for availability at the outset of the filing process. Once the name is verified for usage, the LLC's Articles of Incorporation must be filed with the Secretary of State where the LLC is formed. The specific method of filing and all requirements are contained in the applicable law of the state.

Fast Facts

  • LLCs may include foreigners as members of the LLC
  • LLCs which are comprised of licensed professionals are commonly known as PLLCS, or professional limited liability companies

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  • Advantages of a Limited Liability Company LLC

    A limited liability company is type of business entity.  The LLC structure is a hybrid between a corporation a...
    • Site: smallbusinesslawfirms.com
    • 3 of 4 user(s) found this useful
  • Form an LLC (Limited Liability Company)

    A limited liability company is a legal business entity that combines certain aspects of corporations with cert...
    • Site: smallbusinesslawfirms.com
    • 1 of 1 user(s) found this useful
  • Types of Limited Liability Companies

      A limited liability company (LLC) is a legal business entity which combines the protections afforded corpora...
    • Site: lawfirms.com
  • Limited Liability Companies

    Many small business owners have chosen to form an LLC as an alternative to forming a corporation in order to l...
    • Site: smallbusinesslawfirms.com
    • 2 of 2 user(s) found this useful
  • Becoming an LLC Business

      A limited liability company (LLC) is a legal business entity that combines the most favorable features of a ...
    • Site: lawfirms.com

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