The Limited Liability Company, or LLC, is a legal business structure that seeks to combine advantages from across several other traditional business forms. An LLC enjoys the same form 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 main 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. Many business forms have traditionally been aimed at the goal of limited liability, but the LLC is the most modern of these forms, having become popular since the enactment of laws in Pennsylvania that authorized its formation.

Can My Business Be Formed as an LLC?

The right business form is a decision left up to each business that openes in Pennsylvania. An LLC is started just by filing the appropriate form with the Secretary of State. Fees are regularly charged for opening LLC's, however, and Pennsylvania law determines the costs for creating LLC's. These laws should certainly help you decide whether to organize as an LLC. The business structure that is appropriate for your business might take some effort to find, but finding the right business form can reward you with increased profitability.

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

Under particular conditions, a business in Lansdale may change its form. Eligibility for conversion to a LLC is determined by Pennsylvania law.

How Can an Attorney Help?

Attorneys experienced in Pennsylvania business law can give you valuable input on whether your business would be more profitable as a LLC.