The LLC, or Limited Liability Company, is a business structure that was invented to offer an array of advantages normally 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. 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 North Carolina that authorized its formation.
Can My Business Be Formed as an LLC?
North Carolina 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. However, there can be an additional fee required for forming your LLC, determined by North Carolina laws that govern the formation and actions of LLC's. Applicable laws are a primary consideration in the decision of whether to organize as an LLC. The right business structure for your company might be difficult to find, but different structures can end up saving your company a lot of money.
Can I Change the Form of My Business to an LLC?
Businesses in Brevard might sometimes change form. A company is eligible for conversion to an LLC if its situation falls under circumstances that are detailed by North Carolina law.
How Can an Attorney Help?
Whether it would be advantageous for your business to form or convert to a LLC is a difficult decision. An attorney practicing business law in North Carolina can give you valuable advice.