The Limited Liability Company, or LLC, is a legal business structure that seeks to combine benefits from across several other traditional business forms. An LLC enjoys the same type of limited liability as a corporation, but like the sole proprietorship and partnership, it is not taxed as its own entity. 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. Limited liability has historically been a primary goal of many business forms, but since the legislature authorized it in Pennsylvania, the modern LLC has become increasingly popular.

Can My Business Be Formed as an LLC?

In Pennsylvania, a business can be formed using the form that it chooses. Opening an LLC simply requires that the business founders file a form with the Secretary of State. There may be a fee required for opening your LLC, however. Applicable Pennsylvania 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 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 Fleetwood 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 Pennsylvania laws.

How Can an Attorney Help?

Whether it would be favorable for your business to form or convert to a LLC is a difficult decision. An attorney practicing business law in Pennsylvania can give you valuable advice.