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. Limited liability is an advantage that the LLC shares with the corporation, but instead of being taxed as its own entity, it is viewed more like a sole proprietorship or partnership for tax purposes. 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 Ohio, 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 Ohio. An LLC is started just by filing the appropriate form with the Secretary of State. There can be a fee required for opening your LLC, however. Applicable Ohio laws govern the formation of LLC's and their actions. Applicable laws are a primary consideration in the decision of whether to organize as an LLC. The right business structure for your company might be difficult to find, but different structures can end up saving your company a lot of money.

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

Under specific conditions, a business in Bellaire may change its form. Eligibility for conversion to a LLC is determined by Ohio law.

How Can an Attorney Help?

A lawyer versed in Ohio business law will be able to advise you of the advantages and costs for forming and maintaining a LLC.