What is an LLC?

Find the right LLC attorney in Rockford, 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. 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. 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 creation.

Can My Business Be Formed as an LLC?

Illinois allows a company to incorporate using the business form it chooses. To start as an LLC, a company just files the necessary form with the Secretary of State. Fees are frequently charged for opening LLC's, however, and Illinois law determines the costs for creating LLC's. You should consider these laws when deciding whether to organize your business as an LLC. Finding the right business structure for your company might take some effort, but it will ultimately make your business more profitable.

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

Changing business forms in Rockford can be done if a company's situation meets particular conditions. Conversion to a LLC is possible if Illinois law permits it in your situation.

How Can an Attorney Help?

Attorneys experienced in Illinois business law can give you valuable input on whether your business would be more profitable as a LLC.

Talk to a Business Law Attorney now!

Life in Rockford

Rockford, Illinois is a city on both banks of the Rock River, in Northern Illinois. It is the county seat of Winnebago County, and the third-larges city in Illinois, with a population of over 150,000 people.

Rockford, IL experienced a major economic boom in the first half of the 20th Century, largely due to the massive industrialization of the entire country that was necessary to the war effort in WWII. However, like many industrial cities, Rockford, IL went into a steep economic decline in subsequent decades.

However, with the manufacturing industry in the U.S. bouncing back faster than the rest of the economy in the wake of the recession of the late 2000s, Rockford, IL has reaped some of these benefits. One of the biggest employers in the city is a major Chrysler manufacturing plant. Part of this recovery has been due to government investment in the area, and was made possible, in part, by the government bailout of the two largest auto companies in the U.S. Several Rockford, IL lawyers were probably involved in coming up with this deal.

The lawyers of Rockford, IL are skilled in handling a wide range of cases. If you live in the Rockford area, and need a lawyer, you can't do much better than hiring a Rockford, IL attorney.

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