The LLC, or Limited Liability Company, is a business structure that was invented to offer an array of advantages normally 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. An LLC can also have an endless amount of shareholders, like a corporation. However, the LLC is dissolved if one of those members dies or files for bankruptcy. Limited liability has traditionally been a primary goal of many business forms, but since the legislature authorized it in Nevada, the modern LLC has become increasingly popular.
Can My Business Be Formed as an LLC?
The right business form is a decision left up to each business that openes in Nevada. An LLC is started just by filing the appropriate form with the Secretary of State. However, some charge additional fees for the formation of LLC?s, and in Nevada there are particular 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 Mesquite might sometimes change form. A company is eligible for conversion to an LLC if its situation falls under circumstances that are detailed by Nevada 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 Nevada.