LLC Formation

If you have decided to start your own LLC but need assistance, you have come to the right place. From understanding the legal requirements to filing the necessary paperwork, our team is here to provide you with the support you need. 

Why Should You Start an LLC?

  • Smaller Operations
  • Limited Liability Protection
  • Flexible Ownership and Management
  • Taxation Options

Smaller Operations

LLC business structure is quite popular among small businesses. If you plan to operate as a closely held company or a family business without immediate plans to seek venture capital, forming an LLC would be an optimal choice.

Limited Liability Protection

LLC business structure provides the liability protection of a corporation with the advantage of being treated as a partnership. In such a business structure, each partner is granted the liability protection typical of a corporation, meaning an individual is never solely financially liable for the other members of the firm or the firm’s debt. However, owners of the business can claim the debt against their incomes when filing taxes. This type of tax break is similar to those offered in a partnership.

Flexible Ownership and Management

An LLC’s members have the legal authority to manage the company’s operations. However, it is within the LLC’s power to specify that managers will be in charge instead through its operating agreement. This means the members can opt for a “member-managed” format, in which each member has equal rights in the management and conduct of the company business. Alternatively, if the LLC is “manager-managed,” the managers have the exclusive authority to manage and conduct the company business.

Taxation Options

The LLC business structure provides pass-through income taxation to its members, which is one of its principal advantages. According to IRS regulations, an LLC with more than one member will be treated as a partnership unless it elects to be taxed as a corporation; otherwise, it will be disregarded for tax purposes. If it is considered a partnership, the LLC’s profits will be distributed to its owners and taxed at their personal tax rates, comparable to a limited partnership’s tax treatment. However, It can elect to have corporate tax treatment, in which case it will be taxed as a corporation.

Contact us today to learn more about how we can assist you in setting up your LLC!

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    I had the pleasure of working with Oguz Law to set up my business, and I couldn't be happier with the experience. They were patient in answering all my questions during the consultation, and took care of all the paperwork. I highly recommend them to anyone thinking about starting their own business.
    Kenneth D.
    Very knowledgeable team. I never had to wait long for a response, which made me feel really taken care of. I would absolutely recommend them to anyone!
    Mike A.
    I was truly impressed by their professionalism. They were so welcoming and friendly from the moment I walked in. They took the time to understand my needs and answered all my questions. It made the whole process a breeze. Thank you, Oguz Law!
    Melissa W.

    Frequently Asked Questions

    An LLC, or Limited Liability Company, is a business structure that offers owners limited liability protection similar to a corporation while allowing for flexible management and tax options.

    The main difference between an LLC and a corporation lies in their ownership structures, taxation methods, and legal requirements. While both offer limited liability protection, corporations have more rigid structures and are subject to double taxation, whereas LLCs provide more flexibility and pass-through taxation.

    LLC formation fees differ from state to state. Kindly to contact us if you'd like to learn more about attorney fees for LLC formation.

    Obtaining an EIN is necessary if your business has employees or operates as a corporation or LLC. A Federal Tax Identification Number (EIN) is crucial for identifying your business entity.

    The time required for LLC formation varies depending on the workload of the Secretary of State’s office. However, LLC formations are usually completed within 1-2 days.
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