What is an LLC?

Find the right LLC attorney in Dekalb, 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. Limited liability has historically been a primary goal of many business forms, but since the legislature authorized it in Illinois, the modern LLC has become increasingly popular.

Can My Business Be Formed as an LLC?

In Illinois, 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. However, some charge additional fees for the formation of LLC?s, and in Illinois there are certain laws that govern the actions of LLC?s. In deciding whether you should organize as an LLC, you should consider carefully the applicable laws. Finding the right business structure for your company can lead to increased profits, but the process may take some time.

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

Under particular conditions, a business in Dekalb may change its form. Eligibility for conversion to a LLC is determined by Illinois law.

How Can an Attorney Help?

A lawyer versed in Illinois business law will be able to advise you of the benefits and costs for forming and maintaining a LLC.

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Life in Dekalb

DeKalb is located in DeKalb Count, Illinois. It has a population of around 44,000 people. The city is rooted in history because it is named after Johann De Kalb, the German war hero who died during the American Revolutionary War.

The top employer is Northern Illinois University. Other top employers include Kishwaukee Health System, the school district system, and Wal-Mart. Although the legal force is not included in this list, DeKalb is home to many attorneys who practice in many areas of law. Thus, DeKalb residents should not have a problem finding a solution to their legal problem.

Some popular residents of DeKalb include Cindy Crawford, Barbara Hale, Richard Jenkins, Mel Owens, Richard Powers, and A.J. Bramlett.

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