Limited Liability Company (LLC)

A Limited Liability Company (LLC) is one business formation strategy that has a huge benefit on startup businesses especially those looking towards expanding in the future. An LLC is seen as a business structure whereby the owners are not personally liable for the company’s debts or liabilities. While forming an LLC when starting a business comes…

Transferring a personal vehicle, just like a property, to an LLC can limit your personal liability if someone is injured on the property and files a lawsuit against the owner. For instance, if the parking brake fails and results in the vehicle rolling down a hill and striking another vehicle, as an individual owner, the…

An operating agreement is a legal binding contract used by LLCs because it outlines the business’ financial and functional decisions including rules, regulations and provisions. The essence of this legal document is to govern the internal operations of the business in a way that suits the specific needs of the business owners. Once the document…

Are you about registering a multi-member LLC? If YES, here are 4 fail-proof ways to protect your LLC from the bankruptcy of an LLC member. Have it in mind that the bankruptcy of an LLC member aside from disrupting business operations also results in costly litigation. However, you can bullet proof your LLC by including…

A Limited Liability Company (LLC) is the US – specific form of a private limited company. It is a business structure that can combine the pass – through taxation of a partnership or sole proprietorship with the limited liability of a corporation. An LLC is not a corporation under state law; it is a legal…

A W-9 form is an Internal Revenue Service tax form that shows that the taxpayer is not subject to backup withholding, and is charged with paying his or her own taxes. The W-9 form is a necessary guide in completing a contractor’s tax obligations for the calendar year, either with the help of a tax…

If you own a limited liability company (LLC) and you personally declare bankruptcy, what happens next tends to depend on whether you are the company’s sole owner or you share ownership with other members. What is Bankruptcy? In the United States, bankruptcy is a legal process in which you petition the U.S. Bankruptcy Court to…

No, a registered agent address and a business address are two separate requirements that serve separate functions for your LLC or corporation. Also be aware that P.O. boxes are typically not permitted to be used as an address on the majority of state or federal filings or registrations. In the United States, you are expected…

For both questions, Yes and No! A Registered Agent has no position within the company, and no power, so cannot sign crucial business documents on behalf of an LLC. The Registered Agent’s job is merely to forward service of process to a Company’s designee, whether a Manager, Owners, Board or other authorized representative of the…

Single member LLC vs Multi-member LLC, which is best for married people? Here are factors to consider before forming an LLC as husband and wife. A limited liability company (LLC) is a business that operates like a partnership but has the benefit of added liability protection. While it operates similarly to a partnership, it is…

No, you do not always have to include “LLC” in your logo, business card, website, social media pages or marketing collateral. In the United States you don’t need “LLC” in your branding, but it’s imperative that you include “LLC” in your business name for every other legal documentation. On Business Cards Although it might not…

An LLC after a doctor’s name, just like in every other place, means a Limited Liability Company. Structured as separate legal entities from their owners, limited liability companies (LLCs) benefit from limited liability protection. They are a good option when starting a business or running a small business for liability and tax reasons. However, a…

Are you about starting an LLC and you need help to draft an LLC operating agreement? If YES, here is a sample LLC operating agreement template to help you. Although an LLC agreement is not needed in any state in the United States, it is still a vital document. However, what is an LLC operating…