The Limited Liability Company, or LLC, is a business structure that combines the benefits of many traditional business forms. A LLC has the advantages of a corporation's limited liability, but avoids double taxation like a partnership or sole proprietorship. LLC's, like corporations, may also have as many shareholders, or members, as desired. The LLC, however, is dissolved if one of those members files for bankruptcy or dies. Limited liability has traditionally been a primary goal of many business forms, but since the legislature authorized it in Washington, the modern LLC has become increasingly popular.
Can My Business Be Formed as an LLC?
The right business form is a decision left up to each business that openes in Washington. An LLC is started just by filing the appropriate form with the Secretary of State. However, some charge additional fees for the formation of LLC?s, and in Washington there are particular 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 might 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 Ridgefield might sometimes change form. A company is eligible for conversion to an LLC if its situation falls under circumstances that are detailed by Washington law.
How Can an Attorney Help?
Whether it would be advantageous for your business to form or convert to a LLC is a difficult decision. An attorney practicing business law in Washington can give you valuable advice.