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LLC Formation

An LLC, or a limited liability company, operates essentially as a corporation, sole proprietorship, and partnership all in one.

Why Form an LLC:

Everything You Need to Know about an LLC.

Why form an LLC? An LLC, or a limited liability company, provides that its members and managers can never be held personally liable for the financial losses of the business. An LLC is a sole legal entity; and the name you choose for your LLC is the legal name of your company. This means that the name of your company is the name you will use when conducting business.

Advantages of Forming an LLC

  • Operating an LLC can help you gain credibility with potential customers, vendors, partners, and employees.
  • An LLC offers protection against personal liability, including personal assets; therefore, an LLC is the preferred business type when liability is an issue, i.e. when the company hires employees.
  • Owners will not be personally liable for decisions or actions taken by the LLC. When your company expands, seeking funding is a much more straightforward process.

How to Set Up an LLC

Pick a name for your company

First and foremost, you’ll want to ensure that no one else has taken the name you wish to use.

File the proper paperwork

Documents such as the certificate of organization are required to be filed in your state. Operating Agreements are not required to be filed in all states.

Choose a registered agent

This is a requirement where an individual or company accepts legal service on your behalf.

Obtain your EIN

This is always a requirement, particularly for tax purposes. You’ll need this to conduct business, open a business bank account. and credit cards. 

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