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, the LLC can also have an unlimited amount of shareholders, called members. Unlike a corporation however, if a member dies, files for bankruptcy, or otherwise leaves the LLC, the company is dissolved. Many business forms have historically 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 simply by filing the appropriate form with the Secretary of State. However, some charge additional fees for the formation of LLC?s, and in Pennsylvania there are certain laws that govern the actions of 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 Rochester may change their forms in particular 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 beneficial 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.