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