What is an LLC?

Find the right LLC attorney in Syracuse, NY

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. Limited liability is an advantage that the LLC shares with the corporation, but instead of being taxed as its own entity, it is treated more like a sole proprietorship or partnership for tax purposes. An LLC can also have an unlimited amount of shareholders, like a corporation. However, the LLC is dissolved if one of those members dies or files for bankruptcy. Various 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?

Businesses in New York can organize using whatever form they choose. The office of the Secretary of State is the organization that accepts filings by those who want to open LLC's. Fees are often charged for opening LLC's, however, and New York law determines the costs for creating LLC's. You should consider these laws when deciding whether to organize your business as an LLC. Finding the right business structure for your company may take some effort, but it will ultimately make your business more profitable.

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

Businesses in Syracuse may sometimes change form. A company is eligible for conversion to an LLC if its situation falls under circumstances that are detailed by New York 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 attorneys practicing business law in New York.

Talk to a Business Law Attorney now!

Life in Syracuse

Syracuse, New York is the county seat of Onondaga County, New York. It has a population of about 145,000 people.

The first Europeans to settle the Syracuse area were French missionaries, who arrived in 1615. Before and during the Civil War, Syracuse, New York became a major center for the abolitionist movement, and was an important stop in the Underground Railroad. During this period, many Syracuse, New York lawyers who were opposed to slavery helped ensure that the constitutional rights of freed and escaped slaves were protected.

Modernly, Syracuse is home to Syracuse University, which is a major research institution. Syracuse University has a well-known and prestigious law school. Many of its graduates have gone on to become highly successful Syracuse, New York lawyers.

If you are a resident of the Syracuse, New York area, and are facing a legal problem, or believe that your legal rights have been violated, you should not hesitate to speak with a Syracuse, New York attorney as soon as possible.

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