What is an LLC?

Find the right LLC attorney in Des Plaines, IL

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. Limited liability has traditionally 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 just 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 specific 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 may lead to increased profits, but the process may take some time.

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

Businesses in Des Plaines may change their forms in certain circumstances. Whether a business may convert to a LLC or not is determined by Illinois law.

How Can an Attorney Help?

Lawyers practicing business law in Illinois can advise you on whether it would be favorable for your business to form or convert to a LLC.

Talk to a Business Law Attorney now!

Life in Des Plaines

Des Plaines, Illinois is a community in Cook County, with a population of about 60,000 people. It is a suburb of the city of Chicago.

Des Plaines, Illinois enjoys a fairly high median household income, and a low cost of living, with the median income being about ,000 per year, and average home prices being around ,000.

Des Plaines, for a city its size, has a robust network of educational institutions, including a community college, and several specialized high school-level institutions, such as one focusing on fostering excellence in science and the arts, and private religious schools of various denominations.

Des Plaines, Illinois is a religiously-diverse city, and has several churches of different Christian denominations, as well as a Jewish temple, and an Islamic community center.

Des Plaines, Illinois is a good place to live for people who value diversity, especially those who work in Chicago, or the surrounding area. Its close proximity to city of Chicago, and its low cost of living, make Des Plaines a good option for young professionals who are ready to settle down.

Furthermore, there are plenty of Des Plaines, Illinois lawyers who are ready to help residents of the city and nearby communities with their legal issues. Des Plaines, Illinois lawyers can handle just about any legal problem one can throw at them.

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