The Limited Liability Company, or LLC, is a legal form of business organization that offers the benefits of several other traditional structures. An LLC has the same benefit 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. Also like corporations, LLC's may have as many shareholders, or members, as it likes. Unlike a corporation however, the death or bankruptcy of one of the members will dissolve the LLC. Business forms with limited liability have existed for hundreds of years, but the modern LLC became more popular in Georgia since the legislature enacted laws authorizing its creation.
Can My Business Be Formed as an LLC?
Georgia allows a company to incorporate using the business form it chooses. To start as an LLC, a company just files the necessary form with the Secretary of State. Fees are regularly charged for opening LLC's, however, and Georgia law determines the costs for creating 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 might 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 Elberton can be done if a company's situation meets particular conditions. Conversion to a LLC is possible if Georgia law permits it in your situation.
How Can an Attorney Help?
A lawyer versed in Georgia business law will be able to advise you of the advantages and costs for forming and maintaining a LLC.