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. For hundreds of years, limited liability has been a main goal of some business forms, but since the Pennsylvania legislature enacted laws authorizing its formation, the modern LLC has become more and more popular.

Can My Business Be Formed as an LLC?

Businesses in Pennsylvania may 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. However, there can be an additional fee required for forming your LLC, determined by Pennsylvania laws that govern the formation and actions of LLC's. 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?

Businesses in Millersville may change their forms in certain circumstances. Whether a business may convert to a LLC or not is determined by Pennsylvania law.

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.