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

Can My Business Be Formed as an LLC?

Businesses in North Carolina can organize using whatever form they choose. The office of the Secretary of State is the organization that accepts filings by those who want to open LLC's. However, there may be an additional fee required for forming your LLC, determined by North Carolina laws that govern the formation and actions of LLC's. When deciding whether to form a LLC, you should consider which laws would apply to your company. Although it may take some time to find, choosing the right business structure for your company will lead to increased profitability.

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

Changing business forms in Belmont can be done if a company's situation meets specific conditions. Conversion to a LLC is possible if North Carolina law permits it in your situation.

How Can an Attorney Help?

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