Limited Liability Companies (LLCs) are often considered advantageous for a small to medium-sized business. Starting out requires filing the proper Articles of Organization with the state, obtaining an EIN and signing an Operating Agreement. As it states in the name, there is limited liability protection for the owners, called members. Advantages of an LLC over a traditional corporation include the no requirement for frequent corporate meetings. As with any business, there are necessary periodic filings with the state in order to keep the LLC status active.
For a quick response to your questions regarding L.L.C.s, contact Timothy Leahy below: