Q: What is a Limited Liability Company?
Q: What paperwork is required to form an LLC?
Q: Do I need an attorney to form an LLC?
Q: What are the advantages of an LLC?
1. Limited Liability: For the members of an LLC, liability is limited to the amount of capital which the member has invested in the LLC. Therefore, members of an LLC are offered the same liability protection as a corporation's shareholders.
2. Pass-Through Taxation: LLC's allow for pass-through taxation. That is, the earnings of an LLC are only taxed once.
3. Flexible Management Structure and Flexible Ownership: LLC's are generally free to establish any organizational structure agreed on by its members.
Q: What is the organizational structure of an LLC?
If an LLC is managed by its members, it operates similar to a partnership. Each member has an equal say in the management of the LLC. If the members choose, they may elect a manager to oversee the affairs of the LLC.
Member management, however, is the normal default rule of state law.
Q: How is the ownership of an LLC evidenced?
Q: What is a registered agent?
It is possible for you to act as your own registered agent as long as your address is within the state that you are forming the LLC in. However, if registered agent services are required, as they frequently are in Delaware and Nevada, 101incorporate can provide these services.
Q: What is the LLC kit? A: After your Articles are filed, your LLC should have an organizational meeting where an operating agreement is adopted. Member certificates can be distributed to members and these transactions should be recorded in the LLC ledger. All of this information can be maintained in a limited liability company record book, which is included in the LLC kit. Our LLC kit includes all of the information and paperwork needed to make this process easier.
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