A Limited Liability Company can be best described as a hybrid between a corporation and a partnership. It provides easy management and "pass-through" taxation (profits and losses are added to the owner(s) personal tax returns) like a Sole Proprietorship/Partnership, with the liability protection of a Corporation. Its a relatively new form of business created in Wyoming in 1977 and now recognized in all 50 States and D.C.
Like a corporation, it is a separate legal entity; unlike a corporation, there is no stock and there are fewer formalities. The owners of an LLC are called "Members", instead of "Shareholders" "Directors" and "Officers". So in essence, its a like a corporation, with less complicated taxation and stock formalities.
Well file your LLC formation documents with the State and ship the completed filing to you via your chosen shipping method. Yes, its that simple! We also provide you with the necessary after-llc formation paperwork including a personalized Operating Agreement, LLC Organizational Meeting Minutes, "The New LLC Handbook" and a Startup Checklist specific to your state that details tasks like getting a business license, a sales tax permit or hiring employees. See what else is included in our LLC formation packages.
"LLC Formation" or "forming an LLC" is the process whereby you formally create a separate business entity - an official filing where you start an LLC at the state level. Depending on the state, this is accomplished by: