The legal business form of the LLC, or Limited Liability Company, offers the advantages of several other traditional business forms. An LLC has the same benefit of limited liability that a corporation does, but without being taxed as its own entity. Instead, it's taxed more similarly to a sole proprietorship or partnership. Like a corporation, a LLC can have unlimited shareholders, called members. But a main difference is if one of these shareholders dies or files for bankruptcy, the LLC is dissolved and will stop operations unless the remaining members form a new LLC. Limited liability has traditionally been a primary goal of many business forms, but since the legislature authorized it in Massachusetts, the modern LLC has become increasingly popular.

Can My Business Be Formed as an LLC?

The right business form is a decision left up to each business that openes in Massachusetts. An LLC is started just by filing the appropriate form with the Secretary of State. However, some charge additional fees for the formation of LLC?s, and in Massachusetts there are specific laws that govern the actions of LLC?s. Applicable laws are a primary consideration in the decision of whether to organize as an LLC. The right business structure for your company might be difficult to find, but different structures can end up saving your company a lot of money.

Can I Change the Form of My Business to an LLC?

Under certain conditions, a business in North Attleborough may change its form. Eligibility for conversion to a LLC is determined by Massachusetts law.

How Can an Attorney Help?

Whether it would be favorable for your business to form or convert to a LLC is a difficult decision. An attorney practicing business law in Massachusetts can give you valuable advice.