What is an LLC?

Find the right LLC attorney in Orland Park, IL

The legal business form of the LLC, or Limited Liability Company, offers the advantages of several other traditional business forms. A LLC has the advantages 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 endless 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. For hundreds of years, limited liability has been a main goal of some business forms, but since the Illinois legislature enacted laws authorizing its formation, the modern LLC has become more and more 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. Fees are regularly charged for opening LLC's, however, and Illinois law determines the costs for creating 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 Orland Park might sometimes change form. A company is eligible for conversion to an LLC if its situation falls under circumstances that are detailed by Illinois law.

How Can an Attorney Help?

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

Talk to a Business Law Attorney now!

Life in Orland Park

Orland Park is located in Cook County, Illinois. It has a population of around 56,676 people. Interestingly, in 2006 Orland Park was awarded the title of being the "45th Best Place to Live in America" by Money Magazine. It is 25 miles southwest of Chicago.

Famous residents include John Cangelosi, Brad Fiorenza, Justin Hartley, Brian McBride, Bill Rancic, Pat Fitzgerald, Dan Hampton, Steve Martinson, and Shannon McDonnell.

Orland Park is also home to many attorneys who practice in various areas of law. Further, residents can seek look to the legal force of nearby Chicago for all their legal matters. Chicago is home to top-notch law firms that train ivy-league educated attorneys. With either option, the legal needs of Orland Park residents can easily be taken care of.

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