The Limited Liability Company, or LLC, is a legal form of business organization that offers the advantages of several other traditional structures. An LLC has the same advantage of limited liability that a corporation does, but without being taxed as its own entity. Instead, it's taxed more similarly to a sole proprietorship or partnership. 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. Limited liability has historically been a primary goal of many business forms, but since the legislature authorized it in Florida, the modern LLC has become increasingly popular.
Can My Business Be Formed as an LLC?
The right business form is a decision left up to each business that openes in Florida. An LLC is started simply by filing the appropriate form with the Secretary of State. However, some charge additional fees for the formation of LLC?s, and in Florida there are specific laws that govern the actions of LLC?s. 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?
Changing business forms in Cape Canaveral can be done if a company's situation meets certain conditions. Conversion to a LLC is possible if Florida law permits it in your situation.
How Can an Attorney Help?
Attorneys experienced in Florida business law can give you valuable input on whether your business would be more profitable as a LLC.