The LLC, or Limited Liability Company, is a business structure that was invented to offer an array of benefits usually provided by other traditional business forms. An LLC enjoys the same type of limited liability as a corporation, but like the sole proprietorship and partnership, it is not taxed as its own entity. Like a corporation, a LLC can have unlimited shareholders, called members. But a key difference is if one of these shareholders dies or files for bankruptcy, the LLC is dissolved and will stop operations unless the remaining members form a new LLC. Many business forms have historically 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?

The right business form is a decision left up to each business that openes in North Carolina. An LLC is started simply by filing the appropriate form with the Secretary of State. However, some charge additional fees for the formation of LLC?s, and in North Carolina there are certain laws that govern the actions of 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 can lead to increased profits, but the process may take some time.

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

Businesses in Rockingham may change their forms in particular circumstances. Whether a business may convert to a LLC or not is determined by North Carolina law.

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.