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. Also like corporations, LLC's can 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. Limited liability has historically been a primary goal of many business forms, but since the legislature authorized it in Georgia, the modern LLC has become increasingly popular.
Can My Business Be Formed as an LLC?
Businesses in Georgia can organize using whatever form they choose. The office of the Secretary of State is the organization that accepts filings by those who want to open LLC's. However, some charge additional fees for the formation of LLC?s, and in Georgia there are particular 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?
Businesses in Smyrna may sometimes change form. A company is eligible for conversion to an LLC if its situation falls under circumstances that are detailed by Georgia law.
How Can an Attorney Help?
A lawyer versed in Georgia business law will be able to advise you of the benefits and costs for forming and maintaining a LLC.
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