The LLC, or Limited Liability Company, is a business structure that was invented to offer an array of advantages typically provided by 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. An LLC can also have an endless amount of shareholders, like a corporation. However, the LLC is dissolved if one of those members dies or files for bankruptcy. 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. However, fees are regularly required to form a LLC. The actions of LLC's as well as the costs for operating them are determined by Missouri 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 Florissant can be done if a company's situation meets certain conditions. Conversion to a LLC is possible if Missouri law permits it in your situation.
How Can an Attorney Help?
The decision of whether to form or convert to a LLC is best considered with the advice of local lawyers practicing business law in Missouri.