Limited Liability Corporation Establishment
A limited liability corporation is from of business entity different from a corporation or a partnership. For an instance, an owner who engages in this type of company is called a member and not a partner or shareholder. In addition, the number of members who may incorporate in an LLC is limitless and may vary from individuals, corporations to other LLC's. The members then may benefit from the combined features of a corporation and partnership arrangement from a limited liability corporation establishment.
More like in a regular corporation, the members of an LLC is protected from any liabilities of the company since it is entirely a separate entity. Hence, the owners are not responsible for the company's debts and other legal liabilities unless they have signed any contract stating that they cancel this right. Yet, unlike a corporation wherein the stockholders have to conduct regular meetings and put them into a record, an LLC structure is not obliged to formulate minutes of the meetings or company resolutions making it easier to operate.
In a limited liability corporation establishment, the members may select from a wide range of profit distribution system. Thus, it is different from a partnership wherein the only allowed method is 50-50 distribution. Moreover, the owners will definitely prevent double taxation in paying both corporate and individual taxes because the company's profits, losses and expenses flow through all in the business.
However, setting-up and operating this type of company is much more complex than a sole-proprietorship or partnership. Therefore, a limited liability establishment must have the supervision and guidance from a competent business lawyer coming from the Expert Los Angeles Attorneys. We have skilled lawyers who can assist you in preparing and filing your articles of organization with the Secretary of State. Our legal counsel is also capable of drafting a legally acceptable operating agreement and by-laws for your company.
Do not let your efforts be jeopardize due to technicalities and other legal impediments. Have your limited liability corporation establishment be done with us. We guarantee that our qualified Los Angeles business lawyers will proficiently assist you in all the steps and procedures. Just dial that number flashed on your monitor and schedule a meeting with us.
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