The Limited Liability Company (LLC) is a business entity that offers limited liability protection and pass-through taxation. An LLC can be managed either by the members or by managers.

 

The LLC allows for pass-through taxation as its income is not taxed at the entity level; however, a tax return for the LLC must be completed. Any income or loss of the LLC as shown on this return, is passed through to the owner(s). The owners, also called members, must then report the income or loss on their personal tax returns and pay any necessary tax.

 

As with corporations, the LLC legally exists as a separate entity from its owners. Therefore, the owners cannot typically be held personally responsible for the debts and liabilities of the LLC.

 

Advantages of an LLC:

 

• LLCs allow for pass-through taxation.
   

• Members of an LLC are not typically held personally responsible for the debts and liabilities of the business.
   

• LLCs generally have no ownership restrictions.
   

• LLC members have flexibility in structuring the management of the company
   

• An LLC does not require as much annual paperwork or have as many formalities as a C-corporation or an S-corporation
   

• Written consent of LLC members must be obtained before increasing ownership in the company.
   

• Potential customers may perceive an LLC as a more professional entity than a sole proprietorship.
   

To create an LLC, the proper formation documents, typically called the Articles of Incorporation or Certificate of Incorporation, must be filed with the appropriate state agency, and the necessary state filing fees must be paid.

 

All formations come with the following:

 

• Preliminary Name Check with State
   

• Preparation and Filing of all Articles of Organization Documents
   

• Free Registered Agent Service for 12 months
   

• Next-Day Expedited Processing Service
   

• Corporate Kit & Seal (Optional But Highly Recommended)

  • ​A professional binder enclosed in a matching slip-case

  • 20 custom-made, numbered membership certificates printed with your company name

  • A membership transfer ledger, which allows you to keep accurate records of membership
     

• Tax ID (EIN) Business Tax Number
   

• Customized Operating Agreement ($1200 Value)
   

• Lifetime Company Alerts
   

• PDF File with Banking resolutions, Meeting Minutes, Addendums, and Business Contract Templates
   

• Certified Copy of State Filed Documents

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* Formation Pricing

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