What is an LLC?

Find the right LLC attorney in Carol Stream, IL

The Limited Liability Company, or LLC, is a legal form of business organization that offers the advantages 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 treated more like a sole proprietorship or partnership for tax purposes. LLC's, like corporations, can also have as many shareholders, or members, as desired. The LLC, however, is dissolved if one of those members files for bankruptcy or dies. Business forms with limited liability have existed for hundreds of years, but the modern LLC became more popular in Illinois since the legislature enacted laws authorizing its formation.

Can My Business Be Formed as an LLC?

The right business form is a decision left up to each business that openes in Illinois. An LLC is started simply by filing the appropriate form with the Secretary of State. Fees are generally charged for opening LLC's, however, and Illinois law determines the costs for creating LLC's. These laws should certainly help you decide whether to organize as an LLC. The business structure that is appropriate for your business may take some effort to find, but finding the right business form can reward you with increased profitability.

Can I Change the Form of My Business to an LLC?

Changing business forms in Carol Stream can be done if a company's situation meets specific conditions. Conversion to a LLC is possible if Illinois law permits it in your situation.

How Can an Attorney Help?

The decision of whether to form or convert to a LLC is best considered with the advice of local attorneys practicing business law in Illinois.

Talk to a Business Law Attorney now!

Life in Carol Stream

Carol Stream is located in DuPage County, Illinois. It was named after the city's developer's daughter Carol Stream. Carol Stream is a small city with an approximate population of 44,000 people.

Some of Carol Stream's top employers include Peacock Engineering, Tyndale House, Futaba Industrial, CNS Home Health Hospice, Ingram Micro, Windsor Park Manor, Berlin Industries and Dominick's.

Although the legal industry is not huge in Carol Stream, there are many attorneys who practice in most areas of law. Thus, residents of Carol Stream can stay rest assured because their legal matters can be handled by attorneys in Carol Stream.

All in all, Carol Stream has a community-like feel, small town charm, and a wonderful quality of life to offer residents and visitors.

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