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?
Businesses in California may organize using whatever form they choose. The office of the Secretary of State is the organization that accepts filings by those who want to open LLC's. However, there can be an additional fee required for forming your LLC, determined by California laws that govern the formation and actions of LLC's. When deciding whether to form a LLC, you should consider which laws would apply to your company. Although it might take some time to find, choosing the right business structure for your company will lead to increased profitability.
Can I Change the Form of My Business to an LLC?
Changing business forms in Calimesa can be done if a company's situation meets specific conditions. Conversion to a LLC is possible if California law permits it in your situation.
How Can an Attorney Help?
A lawyer versed in California business law will be able to advise you of the advantages and costs for forming and maintaining a LLC.