What is an LLC?

Find the right LLC attorney in Quincy, 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. For hundreds of years, limited liability has been a primary 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?

Businesses in Illinois can organize using whatever form they choose. The office of the Secretary of State is the organization that accepts filings by those who want to open LLC's. However, there may be an additional fee required for forming your LLC, determined by Illinois laws that govern the formation and actions of LLC's. Applicable laws are a primary consideration in the decision of whether to organize as an LLC. The right business structure for your company may be difficult to find, but different structures can end up saving your company a lot of money.

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

Businesses in Quincy may 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 benefits and costs for forming and maintaining a LLC.

Talk to a Business Law Attorney now!

Life in Quincy

Quincy is nicknamed the "Gem City of Illinois. Perhaps this is so because it lies along the Mississippi River. It is a small city home to about 40,700 people. Interestingly, Quincy used to be the hub for the transportation of riverboats and rail service, connecting many destinations along the river.

Some major corporations located in Quincy include Niemann Foods, Gardner Denver, and Titan Wheel. Other thriving employers include the healthcare industry and school district. Many attorneys also call Quincy home, and practice in many areas of law.

Some popular attractions in Quincy include Temple B'nai Sholom, Quincy Museum, Moorish Castle, Quincy University, and the South Side German Historic District.

All in all, Quincy is a quaint place to live offering its residents small town charm!

Clients Rate LegalMatch Attorneys
(click to read reviews)

Howard B.
Howard B.

Business - Litigation

Rye Brook, NY

Mark B.
Mark B.

Business - Litigation

Roseland, NJ

David A.
David A.

Business - Litigation

Walnut Creek, CA