The legal business form of the LLC, or Limited Liability Company, offers the benefits of several other traditional business forms. Like a sole proprietorship or partnership, an LLC is not taxed as its own entity. However, it still has the advantage of limited liability, the same as a corporation. Also like corporations, LLC's can 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 Louisiana since the legislature enacted laws authorizing its formation.
Can My Business Be Formed as an LLC?
Louisiana allows a company to incorporate using the business form it chooses. To begin as an LLC, a company simply files the necessary form with the Secretary of State. Fees are generally charged for opening LLC's, however, and Louisiana law determines the costs for creating LLC's. When deciding whether to form a LLC, you should consider which laws would apply to your company. Although it may 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?
Under specific conditions, a business in Denham Springs may change its form. Eligibility for conversion to a LLC is determined by Louisiana law.
How Can an Attorney Help?
Whether it would be advantageous for your business to form or convert to a LLC is a difficult decision. An attorney practicing business law in Louisiana can give you valuable advice.