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. Also like corporations, LLC's may have as many shareholders, or members, as it likes. Unlike a corporation however, the death or bankruptcy of one of the members will dissolve the LLC. Business forms with limited liability have existed for hundreds of years, but the modern LLC became more popular in Montana since the legislature enacted laws authorizing its creation.
Can My Business Be Formed as an LLC?
Montana 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 Montana 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 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 Butte can be done if a company's situation meets particular conditions. Conversion to a LLC is possible if Montana law permits it in your situation.
How Can an Attorney Help?
Attorneys experienced in Montana business law can give you valuable input on whether your business would be more profitable as a LLC.