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. 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. 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 New Hampshire that authorized its formation.
Can My Business Be Formed as an LLC?
New Hampshire allows a company to incorporate using the business form it chooses. To begin as an LLC, a company simply files the necessary form with the Secretary of State. However, fees are generally required to form a LLC. The actions of LLC's as well as the costs for operating them are determined by New Hampshire law. Applicable laws are a primary consideration in the decision of whether to organize as an LLC. The right business structure for your company may 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 Seabrook 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?
Whether it would be beneficial for your business to form or convert to a LLC is a difficult decision. An attorney practicing business law in New Hampshire can give you valuable advice.