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. For hundreds of years, limited liability has been a primary 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 can 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. Fees are generally charged for opening LLC's, however, and Pennsylvania law determines the costs for creating 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?

Changing business forms in Titusville can be done if a company's situation meets specific conditions. Conversion to a LLC is possible if Pennsylvania law permits it in your situation.

How Can an Attorney Help?

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