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. 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. For hundreds of years, limited liability has been a main goal of some business forms, but since the Mississippi legislature enacted laws authorizing its formation, the modern LLC has become more and more popular.

Can My Business Be Formed as an LLC?

Mississippi 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. Fees are frequently charged for opening LLC's, however, and Mississippi law determines the costs for creating LLC's. In deciding whether you should organize as an LLC, you should consider carefully the applicable laws. Finding the right business structure for your company may lead to increased profits, but the process may take some time.

Can I Change the Form of My Business to an LLC?

Businesses in Richland might sometimes change form. A company is eligible for conversion to an LLC if its situation falls under circumstances that are detailed by Mississippi law.

How Can an Attorney Help?

Lawyers practicing business law in Mississippi can advise you on whether it would be favorable for your business to form or convert to a LLC.