Create an LLC

 

 

What is a Limited Liability Company? 

 

  1. A limited liability company is registered with the secretary of state
  2. A limited liability company can absorb unlimited members and / or management
  3. Both US and Non US residents can form a limited liability company
  4. A limited liability company is a pass-through entity for the purpose of tax, profit, and loss transfers compiled into an income tax report
  5. A limited liability company has the flexibility to be used as a corporation, S corporation or a limited liability company
  6. An LLC is supported by / tethered to the operating agreement. The operating agreement is a document utilized by management that does not submit along with the article of organization to create an LLC

 

How does one register a Limited Liability Company

 

  • Name of the LLC
  • Names of all the members and the managers
  • Registered agent address
  • Percentage each owner of the company holds
  • Business description
  • Term of the LLC
  • Signature of the organizer

Generally, most states register a limited liability company the same day.

 

 

The yearly maintenance required for a Limited Liability Company: 

 

  • An LLC is maintained in most states by filing an annual report, biennial statement, franchise report or the statement of information as per the secretary of the state requirement
  • Income tax returns are filed by each member of the LLC
  • The name of an LLC is confirmed by the secretary of state prior to filing the article of organization to register a business name as an LLC.
  • Some states require publications to establish an LLC. The state of New York is one of these states; where a legal notice is required to be published in newspapers. The charges of the newspapers are based on the county

 

 

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