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, there can be an additional fee required for forming your LLC, determined by New Hampshire 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?
A business in Hudson may change its form under particular conditions. Whether or not a business is eligible for conversion to a LLC is a determination made by applicable New Hampshire laws.
How Can an Attorney Help?
Lawyers practicing business law in New Hampshire can advise you on whether it would be favorable for your business to form or convert to a LLC.