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. Also like corporations, LLC's may have as many shareholders, or members, as it likes. Unlike a corporation however, the death or bankruptcy of one of the members will dissolve the LLC. Business forms with limited liability have existed for hundreds of years, but the modern LLC became more popular in Indiana since the legislature enacted laws authorizing its creation.

Can My Business Be Formed as an LLC?

A business in Indiana can be organized using the form that it chooses. If the founders want to organize as an LLC, all that is necessary is filing the appropriate form with the Secretary of State. However, fees are frequently required to form a LLC. The actions of LLC's as well as the costs for operating them are determined by Indiana law. 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 Martinsville can be done if a company's situation meets certain conditions. Conversion to a LLC is possible if Indiana law permits it in your situation.

How Can an Attorney Help?

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