The LLC, or Limited Liability Company, is a business structure that was invented to offer an array of advantages usually 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. Many business forms have traditionally 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?
A business in Missouri can be organized using the form that it chooses. If the founders want to organize as an LLC, all that is necessary is filing the appropriate 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. These laws should certainly help you decide whether to organize as an LLC. The business structure that is appropriate for your business might take some effort to find, but finding the right business form can reward you with increased profitability.
Can I Change the Form of My Business to an LLC?
Businesses in Marshfield may change their forms in particular circumstances. Whether a business may convert to a LLC or not is determined by Missouri law.
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.