What is an LLC?

Find the right LLC attorney in Springfield, 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. LLC's, like corporations, can 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 formation.

Can My Business Be Formed as an LLC?

A business in Illinois can be organized using the form that it chooses. If the founders want to organize as an LLC, all that is required is filing the appropriate form with the Secretary of State. However, fees are often required to form a LLC. The actions of LLC's as well as the costs for operating them are determined by Illinois law. In deciding whether you should organize as an LLC, you should consider carefully the applicable laws. Finding the right business structure for your company can lead to increased profits, but the process may take some time.

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

A business in Springfield may change its form under certain conditions. Whether or not a business is eligible for conversion to a LLC is a determination made by applicable Illinois laws.

How Can an Attorney Help?

Attorneys 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 Springfield

Springfield, Illinois is the capital of the state of Illinois. It is also the county seat of Sangamon County. Its current population is approximately 116,000 people.

Springfield, Illinois is best known for being the longtime residence of President Abraham Lincoln, who worked as a lawyer in Springfield, Illinois before being elected president and moving to Washington, D.C.

Because it is the capital of a large state, but relatively small in population, the biggest employer in Springfield, Illinois is the state government. The state of Illinois employs a large number of Springfield, Illinois lawyers. They serve as public defenders, prosecuting attorneys, and attorneys that represent the state in civil matters.

On top of that, there are many Springfield, Illinois attorneys in private practice. So, if you need legal advice, or some other legal service, you should start by contacting a qualified Springfield, Illinois attorney.

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