The LLC, or Limited Liability Company, is a business structure that was invented to offer an array of benefits typically 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. LLC's, like corporations, can 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 historically been a primary goal of many business forms, but since the legislature authorized it in Mississippi, the modern LLC has become increasingly popular.

Can My Business Be Formed as an LLC?

In Mississippi, a business can be formed using the form that it chooses. Opening an LLC simply requires that the business founders file a form with the Secretary of State. However, fees are generally required to form a LLC. The actions of LLC's as well as the costs for operating them are determined by Mississippi law. These laws should certainly help you decide whether to organize as an LLC. The business structure that is appropriate for your business may 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?

Changing business forms in Leland can be done if a company's situation meets certain conditions. Conversion to a LLC is possible if Mississippi law permits it in your situation.

How Can an Attorney Help?

Attorneys experienced in Mississippi business law can give you valuable input on whether your business would be more profitable as a LLC.