What is an LLC?

Find the right LLC attorney in Joliet, IL

The legal business form of the LLC, or Limited Liability Company, offers the benefits of several other traditional business forms. A LLC has the benefits of a corporation's limited liability, but avoids double taxation like a partnership or sole proprietorship. Like a corporation, the LLC can also have an unlimited amount of shareholders, called members. Unlike a corporation however, if a member dies, files for bankruptcy, or otherwise leaves the LLC, the company is dissolved. 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. There may be a fee required for opening your LLC, however. Applicable Illinois laws govern the formation of LLC's and their actions. 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?

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

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 Illinois can give you valuable advice.

Talk to a Business Law Attorney now!

Life in Joliet

Joliet, Illinois is the fastest growing city in the state. It is the seat of Will County and was incorporated as early as 1852. Joliet is nicknamed "The City of Champions" on account of the many national and state titles won by local school bands and sports teams. It is also nicknamed "The City of Steel" as well as the "City of Stone", reflecting its historical background in those industries.

Currently the city of Joliet, Illinois has attracted large numbers of new residents seeking to work and live in the area. Family entertainment in Joliet is abundant, consisting of several golf courses, bike trails, and old-style movie theaters. The city also has several landmarks that often appear in the setting of major motion picture films, such as the Rialto Square Theater.

Every year Joliet enjoys a large influx of visitors who come to the city to watch NASCAR automobile races and to participate in high-end motorsports events. These are hosted at places like the Chicagoland Speedway and the Autobahn Country Club.

Joliet, Illinois has quickly become an important hub for commerce and residential living. Lawyers in Joliet are available to assist in many different areas of law. Joliet, Illinois lawyers hone their professional skills through state and county bar associations.

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