The LLC, or Limited Liability Company, is a business structure that was invented to offer an array of benefits usually provided by other traditional business forms. A LLC has the benefits of a corporation's limited liability, but avoids double taxation like a partnership or sole proprietorship. An LLC can also have an unlimited amount of shareholders, like a corporation. However, the LLC is dissolved if one of those members dies or files for bankruptcy. Many business forms have historically been aimed at the goal of limited liability, but the LLC is the most modern of these forms, having become popular since the enactment of laws in Missouri that authorized its formation.
Can My Business Be Formed as an LLC?
Missouri 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 often charged for opening LLC's, however, and Missouri law determines the costs for creating LLC's. You should consider these laws when deciding whether to organize your business as an LLC. Finding the right business structure for your company may take some effort, but it will ultimately make your business more profitable.
Can I Change the Form of My Business to an LLC?
A business in Kirksville may change its form under particular conditions. Whether or not a business is eligible for conversion to a LLC is a determination made by applicable Missouri laws.
How Can an Attorney Help?
Attorneys experienced in Missouri business law can give you valuable input on whether your business would be more profitable as a LLC.