What is an LLC?

Find the right LLC attorney in Clifton, NJ

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 has the same benefit of limited liability that a corporation does, but without being taxed as its own entity. Instead, it's taxed more similarly to a sole proprietorship or partnership. Like a corporation, a LLC can have unlimited shareholders, called members. But a main 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. Business forms with limited liability have existed for hundreds of years, but the modern LLC became more popular in New Jersey since the legislature enacted laws authorizing its creation.

Can My Business Be Formed as an LLC?

A business in New Jersey can be organized using the form that it chooses. If the founders want to organize as an LLC, all that is necessary is filing the appropriate form with the Secretary of State. However, some charge additional fees for the formation of LLC?s, and in New Jersey 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 may lead to increased profits, but the process may take some time.

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

Businesses in Clifton might sometimes change form. A company is eligible for conversion to an LLC if its situation falls under circumstances that are detailed by New Jersey law.

How Can an Attorney Help?

The decision of whether to form or convert to a LLC is best considered with the advice of local lawyers practicing business law in New Jersey.

Talk to a Business Law Attorney now!

Life in Clifton

Clifton is located in Passaic County, New Jersey. As of 2010, it has a population of 84,136 people. What is interesting is that Clifton is listed under five different zip codes--07011, 07012, 07013, 07014, and 07015!

Clifton has been mentioned in media such as the film The King of Comedy, Donnie Brasco, and the television series The Sopranos.

Well-known residents include Jay Alford, David Chase, Ronald F. Maxwell, Jon Seda, Steve Smith, Dave Szott, and Ivan Wilzig.

Clifton is also home to many small law offices and law firms, who train excellent attorneys to practice in various areas of law. Therefore, the legal needs of Clifton residents will always be tended to.

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