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Llc Corporations

A limited liability corporation, also referred to as an "LLC," is a legal form whose primary hallmark is the limitation of personal liability of the LLC members. As a result, the personal assets of members of the LLC are shielded from the liability of the LLC itself. The LLC is usually flexible and is frequently used in businesses with just one owner. In order to form an LLC, it is necessary to register the corporation with the Secretary of State where the LLC is formed. In order to register the LLC, one must make sure that the particular name of the business is not already in use by another LLC. If the name is already in use, the LLC will not be permitted to use the proposed name and will have to submit an alternative name. Thereafter, the LLC must file formal legal documents with the Secretary of State's office.

Fast Facts

  • LLCs are not subject to double taxation by the Internal Revenue Service
  • Most states require LLCs to file Articles of Incorporation with the Secretary of State where the LLC is formed

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  • 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
  • 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
  • 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
  • Types of Limited Liability Companies

      A limited liability company (LLC) is a legal business entity which combines the protections afforded corpora...
    • Site: lawfirms.com
  • Business Law in Arizona

    All Arizona corporations start out as a C corporation. Then the owners can choose to become an S corporation b...
    • Site: lawfirms.com

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