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. LLC's, like corporations, may also have as many shareholders, or members, as desired. The LLC, however, is dissolved if one of those members files for bankruptcy or dies. Business forms with limited liability have existed for hundreds of years, but the modern LLC became more popular in California since the legislature enacted laws authorizing its creation.

Can My Business Be Formed as an LLC?

The right business form is a decision left up to each business that openes in California. 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 California 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?

Businesses in San Fernando might sometimes change form. A company is eligible for conversion to an LLC if its situation falls under circumstances that are detailed by California law.

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.