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. For hundreds of years, limited liability has been a primary goal of some business forms, but since the California legislature enacted laws authorizing its formation, the modern LLC has become more and more popular.
Can My Business Be Formed as an LLC?
California allows a company to incorporate using the business form it chooses. To begin as an LLC, a company simply files the necessary form with the Secretary of State. There may be a fee required for opening your LLC, however. Applicable California laws govern the formation of LLC's and their actions. Applicable laws are a primary consideration in the decision of whether to organize as an LLC. The right business structure for your company may 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?
A business in Inglewood may change its form under specific conditions. Whether or not a business is eligible for conversion to a LLC is a determination made by applicable California laws.
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LLC Attorneys and Law Firms in the Largest CA Cities
Life in InglewoodInglewood, California is a city in Los Angeles County. It currently has a population of around 110,000 residents. It is located in the South Bay area of the Greater Los Angeles region.
How Can an Attorney Help?
Whether it would be advantageous 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.