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. Like a corporation, the LLC can also have an unlimited amount of shareholders, called members. Unlike a corporation however, if a member dies, files for bankruptcy, or otherwise leaves the LLC, the company is dissolved. Various forms of limited liability companies have been around for hundreds years, but the modern LLC, like the legislature enacted in Florida, became more popular in the past several decades.

Can My Business Be Formed as an LLC?

In Florida, a business can be formed using the form that it chooses. Opening an LLC simply requires that the business founders file a form with the Secretary of State. There may be a fee required for opening your LLC, however. Applicable Florida 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 Kenneth City 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 Florida laws.

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.