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. Limited liability has traditionally been a primary goal of many business forms, but since the legislature authorized it in Indiana, the modern LLC has become increasingly popular.

Can My Business Be Formed as an LLC?

Businesses in Indiana may 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 can be an additional fee required for forming your LLC, determined by Indiana laws that govern the formation and actions of LLC's. When deciding whether to form a LLC, you should consider which laws would apply to your company. Although it might take some time to find, choosing the right business structure for your company will lead to increased profitability.

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

A business in Sullivan 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 Indiana laws.

How Can an Attorney Help?

Lawyers practicing business law in Indiana can advise you on whether it would be favorable for your business to form or convert to a LLC.