The legal business form of the LLC, or Limited Liability Company, offers the advantages of several other traditional business forms. Limited liability is an advantage that the LLC shares with the corporation, but instead of being taxed as its own entity, it is viewed more like a sole proprietorship or partnership for tax purposes. 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. Limited liability has traditionally been a primary goal of many business forms, but since the legislature authorized it in Missouri, the modern LLC has become increasingly popular.
Can My Business Be Formed as an LLC?
Missouri 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. There can be a fee required for opening your LLC, however. Applicable Missouri laws govern the formation of LLC's and their actions. 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?
Businesses in Breckenridge Hills may change their forms in specific circumstances. Whether a business may convert to a LLC or not is determined by Missouri 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 Missouri can give you valuable advice.