Limited Liability Companies (LLC’s) are a newer kind of business entity which have become increasingly popular over the last few years. In particular, LLCs have grown in popularity for four key reasons:
- Control: The rules that govern an LLC can be as rigid or flexible as the founding owners or “members” desire.
- Protection From Personal Liability: Once an LLC has been properly created the members cannot be sued personally as long as they follow all the requirements of an LLC.
- Taxes: An LLC generally creates a tax structure that places the lowest possible burden on its members.
- Any Business Can Do It: Unlike other business entities, such as a Limited Liability Partnership, any business can be an LLC making it widely available to the public.
Create an LLC in California:
Setting up an LLC and enjoying these advantages requires that all the proper paperwork is filed with federal, state, and local authorities. In addition, it is almost always prudent to draft and execute a carefully worded operating agreement as between the founding members. Finally, the business itself must be conducted in a particular manner, such that business and personal finances are clearly separated. This means that enjoying the tax advantages and legal protections of an LCC is an ongoing process and requires informed governance and operating procedures year-in and year-out.
Waiting to take any these steps now can expose yourself and your business to liabilities. The San Francisco Bay Area attorneys of Jones & Devoy can make sure that you are able to make business law work for you and help you avoid problems before they begin.
LLC Creation Services provided by Jones & Devoy:
The San Francisco Business Law Attorneys of Jones & Devoy can streamline the registration process for you. We will take care of all your LLC creation and governance needs by doing the following:
- Registration of your company name;
- File the Articles of Organization with the Secretary of State;
- File a Statement of Information with the Secretary of State;
- Assistance in drafting and executing a carefully worded Operating Agreement;
- Obtain necessary Federal registrations;
- Obtain local business registrations;
- Advise you on how to maintain your personal liability protection;
- Determine your tax ramifications for creation of an LLC;
Contact the San Francisco Bay Area attorneys of Jones & Devoy today for a free consultation to discuss if an LLC is right for you and your small business.