What is an LLC?
The Limited Liability Company, or LLC, is a legal form of business organization that offers the benefits 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 benefit of limited liability, the same as a corporation. An LLC can also have an endless amount of shareholders, like a corporation. However, the LLC is dissolved if one of those members dies or files for bankruptcy. Different 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 necessary is filing the appropriate form with the Secretary of State. However, fees are regularly required to form a LLC. The actions of LLC's as well as the costs for operating them are determined by California law. In deciding whether you should organize as an LLC, you should consider carefully the applicable laws. Finding the right business structure for your company may lead to increased profits, but the process may take some time.
Can I Change the Form of My Business to an LLC?
Businesses in Burbank may change their forms in particular circumstances. Whether a business may convert to a LLC or not is determined by California law.
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LLC Attorneys and Law Firms in the Largest CA Cities
Life in BurbankBurbank, California is known as the "Media Capital of the World". It is only a few miles away from Hollywood and is home to the headquarters for many entertainment and media companies. Burbank has a population of about 104,000 and was named after David Burbank, an entrepreneur. Many famous movie and film celebrities have resided in Burbank.
Burbank's economic and social life is supported primarily by the entertainment industry. Companies that have headquarters or major productions studios in the city include: Warner Music Group, Warner Bros. Entertainment, The Walt Disney Company, Nickelodeon, ABC, NBC Universal, and Cartoon Network Studios. Burbank is considered to be a nucleus for the Southern California entertainment and media industry.
Burbank has one of the most famous downtown districts in the country. In fact, the city of Burbank has often been referred to as "Beautiful Downtown Burbank". Downtown Burbank features a diverse mix of fine dining, high-end shopping, and entertainment attractions. Burbank Mall is a popular shopping destination for visitors to the area. Several other similar shopping centers can be found throughout Burbank.
Lawyers in Burbank, California often assist their clients at the Burbank Courthouse. The Courthouse handles a very broad range of legal claims. Burbank lawyers are available to advise those who need legal advice or assistance.
How Can an Attorney Help?
Attorneys experienced in California business law can give you valuable input on whether your business would be more profitable as a LLC.