LLC filings increase yearly. US Legal provides products and assistance to help you through the decision to file and filing.
US Legal provides extensive forms and information on business formation, including our LLC Formation Package. A limited liability company (LLC) is a “hybrid” type of business organization created by state law, with characteristics of both a partnership and a corporation and many of the advantages of both. Like a corporation, the limited liability company is a legal entity separate from its owners who are known as “members.” Barring some other arrangement, members normally vote on any proposed action for the LLC, with the number of votes per member typically corresponding to his or her percentage of ownership interest in the business. Some of the advantageous benefits of an LLC include flexible ownership and management, protection from liability for owners, and tax advantages.
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LLC members should enter into an Operating Agreement of some type (a detailed sample is provided in this package). This Operating Agreement may be established either before or after the filing of the Articles of Organization and may be either oral or in writing in many states. Regardless of state requirements, it is preferred practice to have a written Operating Agreement. If you don’t create a written Operating Agreement, the LLC laws of your state will govern your LLC. The Operating Agreement is kept by the members (each should have an updated copy), and is not filed with the government.
A limited liability company generally has fewer legal formalities to observe than a corporation, and is simpler to create and maintain. Today, there are few reasons for a small business person to form any entity other than an LLC. Trust US Legal to provide the reliable, state-specific forms and information you need. That’s been our goal at US Legal since opening our doors in 1997.
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