What is an LLC?
The Limited Liability Company, or LLC, is a legal form of business organization that offers the advantages of several other traditional structures. Like a sole proprietorship or partnership, an LLC is not taxed as its own entity. However, it still has the advantage of limited liability, the same as a corporation. An LLC can also have an unlimited amount of shareholders, like a corporation. However, the LLC is dissolved if one of those members dies or files for bankruptcy. Various forms of limited liability companies have been around for hundreds years, but the modern LLC, like the legislature enacted in California, became more popular in the past several decades.
Can My Business Be Formed as an LLC?
A business in California can be organized using the form that it chooses. If the founders want to organize as an LLC, all that is required is filing the appropriate form with the Secretary of State. However, fees are generally required to form a LLC. The actions of LLC's as well as the costs for operating them are determined by California law. You should consider these laws when deciding whether to organize your business as an LLC. Finding the right business structure for your company may take some effort, but it will ultimately make your business more profitable.
Can I Change the Form of My Business to an LLC?
Businesses in Brea may change their forms in certain circumstances. Whether a business may convert to a LLC or not is determined by California law.
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Life in BreaBrea, California is a city in Orange County, California. Its population is slightly under 40,000 people. Brea is known for its warm climate, high standard of living, and low crime rates. In 2006, it was named by Sunset Magazine as one of the best suburbs to live in the Western United States.
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 California can give you valuable advice.