What is an LLC?

Find the right LLC attorney in Central Islip, NY

The LLC, or Limited Liability Company, is a business structure that was invented to offer an array of advantages typically 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. 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. Different forms of limited liability companies have been around for hundreds years, but the modern LLC, like the legislature enacted in New York, became more popular in the past several decades.

Can My Business Be Formed as an LLC?

In New York, a business can be formed using the form that it chooses. Opening an LLC just requires that the business founders file a form with the Secretary of State. There can be a fee required for opening your LLC, however. Applicable New York laws govern the formation of LLC's and their actions. When deciding whether to form a LLC, you should consider which laws would apply to your company. Although it might 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 Central Islip may change its form under certain conditions. Whether or not a business is eligible for conversion to a LLC is a determination made by applicable New York 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 lawyers practicing business law in New York.

Talk to a Business Law Attorney now!

Life in Central Islip

Central Islip, New York is a community of about 32,000 people, as of the 2000 census. It is located in Suffolk County, on Long Island.

The name came from Islip, Northamptonshire, England, which was the hometown of William Nicoll, the first European to settle the area, in 1683.

In 1842, the Long Island Railroad's rapid eastern expansion reached Suffolk, and Suffolk Central Station was opened, which caused a rapid expansion of Central Islip.

In 1889, a large mental hospital, which would eventually become the Central Islip Psychiatric Center, was opened. By 1955, it housed over 10,000 patients, and closed in 1996, after the last of the patients were moved to other facilities.

Modernly, Central Islip largely serves as a residential suburb of New York City, especially its outer boroughs. Many residents of Central Islip commute to various parts of New York City for their jobs, but live in Central Islip to enjoy its quiet nature.

Central Islip, New York lawyers are plentiful, and are competent to hand virtually any case that an individual, family, or small business is likely to face. If you have a legal problem, you should get in touch with a Central Islip, New York lawyer today.

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