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. An LLC enjoys the same form of limited liability as a corporation, but like the sole proprietorship and partnership, it is not taxed as its own entity. 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. Limited liability has traditionally been a primary goal of many business forms, but since the legislature authorized it in New Hampshire, the modern LLC has become increasingly popular.
Can My Business Be Formed as an LLC?
Businesses in New Hampshire may 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, some charge additional fees for the formation of LLC?s, and in New Hampshire there are certain laws that govern the actions of LLC?s. When deciding whether to form a LLC, you should consider which laws would apply to your company. Although it might 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 Hanover can be done if a company's situation meets particular conditions. Conversion to a LLC is possible if New Hampshire law permits it in your situation.
How Can an Attorney Help?
A lawyer versed in New Hampshire business law will be able to advise you of the advantages and costs for forming and maintaining a LLC.