The Limited Liability Company, or LLC, is a legal form of business organization that offers the benefits of several other traditional structures. Limited liability is an advantage that the LLC shares with the corporation, but instead of being taxed as its own entity, it is viewed more like a sole proprietorship or partnership for tax purposes. 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. Different forms of limited liability companies have been around for hundreds years, but the modern LLC, like the legislature enacted in Idaho, became more popular in the past several decades.

Can My Business Be Formed as an LLC?

A business in Idaho can be organized using the form that it chooses. If the founders want to organize as an LLC, all that is necessary is filing the appropriate form with the Secretary of State. However, fees are regularly required to form a LLC. The actions of LLC's as well as the costs for operating them are determined by Idaho law. 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?

A business in Shelley may change its form under particular conditions. Whether or not a business is eligible for conversion to a LLC is a determination made by applicable Idaho laws.

How Can an Attorney Help?

Whether it would be beneficial for your business to form or convert to a LLC is a difficult decision. An attorney practicing business law in Idaho can give you valuable advice.