What is an LLC?

Find the right LLC attorney in Wayne, NJ

The LLC, or Limited Liability Company, is a business structure that was invented to offer an array of benefits normally provided by other traditional business forms. An LLC has the same advantage 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 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. For hundreds of years, limited liability has been a primary goal of some business forms, but since the New Jersey legislature enacted laws authorizing its formation, the modern LLC has become more and more popular.

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 required is filing the appropriate form with the Secretary of State. However, there may be an additional fee required for forming your LLC, determined by New Jersey laws that govern the formation and actions of LLC's. When deciding whether to form a LLC, you should consider which laws would apply to your company. Although it may 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?

A business in Wayne may change its form under specific conditions. Whether or not a business is eligible for conversion to a LLC is a determination made by applicable New Jersey laws.

How Can an Attorney Help?

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

Talk to a Business Law Attorney now!

Life in Wayne

Wayne New Jersey is a beautiful Garden State city located just fifteen miles from midtown Manhattan -- making it a perfect city for the city worker to live in. With a population of over 55,000, it looks like many people may be doing just that! The city of Wayne has also been listed on the Top 100 places to live. Wayne is home to the Toys "R" Us corporate headquarters as well as the Valley National Bank headquarters. The city also houses the Ice Vault rink where many Olympians can be seen practicing on a regular basis. Wayne is home to a wide variety of activities for their residents to enjoy, including: recreational facilities, lake communities, a state university, and several parks.

Wayne is also a popular location for many lawyers to set up their practice. Specializing in a range of skills, Wayne lawyers are some of the top in the business and ready to help serve their client in whatever capacity he or she is needed! Wayne lawyers are just one more aspect that makes this city such a wonderful place to live in!

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