LIMITED LIABILITY COMPANY
LLC - L.L.C.

- BY THE AMERICAN LEGAL REVIEW, THE PREMIER ONLINE RESOURCE FOR LEGAL INFORMATION AND THE EVALUATION OF LEGAL PRODUCTS AND SERVICES

Many business professionals believe LLCs present an attractive alternative to corporations and partnerships because LLCs combine many of the advantages of both: with an LLC, the members can have the corporate-like liability protection for their personal assets from business debt, while also enjoying the tax advantages of partnerships or "S" Corporations (i.e. elimination of dual taxation). The LLC has been compared to an "S" Corporation without the IRS' restrictions. LLC's allow for pass-through taxation (similar to that of partnerships and S Corporations).

An LLC is a business structure recognized by all 50 states and Washington, D.C. An LLC is a separate legal entity (as is a corporation). For money, property, expertise or "sweat equity" invested into the company, the LLC issues certificates or units that indicate the particular investor's percentage of ownership in the business (compare to a corporation that issues shares of stock to its shareholders).

Some advantages of forming a Limited Liability Company are:
- Provides protection of personal assets from business debts and other obligations;
- Profits/losses pass through to personal income tax returns of the members;
- Provides great flexibility in management and organization of the business;
- LLCs do not have the ownership restrictions of S Corporations, making them ideal business structures for "non-traditional" investors.

Some disadvantages of forming a Limited Liability Company are:
- LLCs often have a limited life (not to exceed 30 years in some states)
- The state of Massachussetts requires at least two members to form an LLC (whereas all corporations can have one shareholder);
- LLCs are not corporations and therefore do not have stock, thereby creating some difficulty in both the transfer of ownership of the company and/or the distribution of benefits.

Below are some Limited Liability Company LLC products and services examined by the American Legal Review:

LEGAL KITS | LEGAL FORMS | LEGAL SOFTWARE | LEGAL SERVICES

American Legal Review > Limited Liability Company LLC:

LIMITED LIABILITY COMPANY
from Standard Legal Software

RECOMMENDED PRODUCT: American Legal Review

Create a Limited Liability Company quickly and easily using Standard Legal's LLC Software! A detailed list of considerations for creating an LLC are presented first. Then use the most up-to-date state-specific forms available to create a legal and valid Limited Liability Company! Finally, a template for developing the LLC's Operating Agreement finishes the process. Clear instructions and pertinent advice make Standard Legal's LLC Software the perfect solution!

The Standard Legal Software LLC program includes the Articles of Organization and all of the other state-specific forms and up-to-date instructions required to create a Limited Liability Company. The program also includes three different types of Operating Agreements that allow the members of the LLC to clearly define the roles of each investor/member in managing and operating the business, and how profits will be disbursed. The software also includes a LLC Unit Certificate template that can be completed and provided to each member of the LLC, showing the number of "units" (like shares) that are held by that member.

In addition to the required forms and instructions, a detailed examination of a variety of business structures is provided, so that the members creating the LLC can make certain that an LLC structure is the best for their business situation.

LEARN MORE ABOUT LIMITED LIABILITY COMPANY SOFTWARE FROM STANDARD LEGAL

LegalFilings.com LLC Services

Create an LLC in any state for only $75 -- No Hidden Fees!

Legal Filings provides business start-ups with, easy, fast and affordable, online incorporation services. We offer complete Incorporation and LLC and non-profit formation services in all 50 States and the District of Columbia.

Express Order Processing: Your filings are prepared by our expert staff and sent state the same day your order is placed.

Over 8 years of nationwide filing experience: We have successfully formed over 9,000 entities. Read our customer testimonials!

Straight Forward Affordable Pricing: We offer you the lowest all inclusive price with NO hidden fees!

To assist you in the important decision of whether to incorporate your business or to form an LLC, Legal Filings has compiled several helpful resources to answer your questions.

LEARN MORE ABOUT LegalFilings.com -- CLICK HERE!

Business Licenses

Business Licenses

Getting a local, county or state business license can be a complicated, time-consuming task. There are over 19,000 separate licensing jurisdictions in the United States, and each has its own licensing requirements. That can mean hours spent on the phone or online chasing down the right department, getting the right forms, learning the submission rules, etc.

After you've registered your company as either a Partnership, Corporation or LLC, the next business issue to tackle is this: does my city, county or state require my business to have a license to operate?

Here's the easy way to find that answer: search the Business Licenses database.

SEARCH THE BUSINESS LICENSES DATABASE FOR REQUIRED BUSINESS LICENSES IN YOUR LOCATION -- CLICK HERE

Business Plan Pro

Business Plan Pro
Save time. Let Business Plan Pro lead you through every step of creating your business plan. The plan may be about the final document for your banker or investor, but for you it is about the process of gathering your ideas and developing and growing your business. Business Plan Pro creates a great looking document for your banker, while helping you to better understand and grow your business. Business Plan Pro 2006 includes:

- Help at Every Step with instructions and examples to build your plan quickly and easily.

- 500+ Sample Plans give you a jump-start with a diverse collection of start-up and on-going business plans.

- EasyPlan Wizard® guides you through every step from start to finish.

- Most Preferred Format to give banks, lenders, and VCs what they are looking for.

- Most Complete with everything you need to define your business, compare industry ratios, set schedules, create personnel and mini-marketing plans, and find funding.

CLICK HERE TO LEARN MORE ABOUT BUSINESS PLAN PRO!

Find an Attorney for FREE
USA LEGAL DIRECTORY

Creating a Limited Liability Company (LLC) can be a complicated legal process. There are often a significant number of legal forms to prepare and file. If you come to the decision that you cannot handle the paperwork and required legal filings, then you need to find the best local attorney you can to help you.

But what's the best way to go about finding an attorney?

At USA Legal Directory, you can post the information about your case or legal need for free. LAWYERS WILL RESPOND TO YOUR REQUEST WITH THEIR BEST OFFER -- THEN YOU PICK THE BEST ATTORNEY FOR YOUR NEEDS! You are in complete control!

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Incorporations & LLC's by LegalZoom

Limited liability companies, or LLCs, are becoming more and more popular, and it's easy to see why. They combine the personal liability protection of a corporation with the tax benefits and simplicity of a partnership. In addition, they're more flexible and require less on-going paperwork than corporations. We can help you quickly and easily set up a new LLC, or convert an existing business into an LLC. Below is our 3-step process:

Complete the LLC Questionnaire:
Fill out our easy-to-follow questionnaire, which was created by experienced attorneys. Unlike other services, you have the choice of forming a new LLC or converting an existing business. In addition, you have the option of including advanced provisions not typically found with other services.

Create and File Organizational Documentation:
We will review the answers you provide for completeness and other common mistakes, prepare your organizational documentation, and then file the Articles of Formation with the Secretary of State. We will even create a customized Operating Agreement.

Final Wrap-Up:
When we receive your filed Articles of Formation, we will forward them to you along with your other legal documents. Thereafter, simply follow our final instructions to wrap up the process.

LEARN MORE ABOUT LLC FILING WITH LEGAL ZOOM

Business in a Box - envisionSBS

Business-in-a-Box Business Legal Forms

Business-in-a-Box is the most comprehensive library of business document templates available today. Bringing together the expertise of management consultants and lawyers, and the efficiency of an executive secretary, Business-in-a-Box is the solution you need to facilitate document writing. Save valuable time, money and effort, and start concentrating on the core activities that impact your bottom line!

Includes over 1,250 essential business letters, contracts, board resolutions, plans, checklists, policies and spreadsheets!

LEARN MORE about Business-in-a-Box Business Legal Forms

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LIMITED LIABILITY COMPANY LLC - L.L.C.

American Legal Review > Limited Liability Company LLC:

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LIMITED LIABILITY COMPANY
LLC - L.L.C.