LLC Formation with Business Attorneys in Orange County
Posted: January 27, 2015 |
Limited liability companies are a sort of hybrid between a partnership and corporation. As such, they enjoy some of the benefits of both, while potentially avoiding some of the disadvantages. Business attorneys in Orange County can help you decide if this is the best organization for your company.
How Does an LLC Operate?
An LLC is formed in much the same way as a corporation with the filing of Articles of Organization with the state. It is best to have both a written agreement and company mission that are signed by the members. Your business lawyers in Orange County will discuss your options with you as you form your LLC, but it is worth noting that you have certain leeway in the way it is managed.
What Are Some Advantages of an LLC?
Partnerships have certain vulnerabilities. If one partner decides to leave, this often endangers the company as a whole. You can form your LLC to protect against such a situation. In addition, as an LLC, your company can have flow-through taxation if you choose. This means that you avoid the so-called “double tax” penalty of running as a corporation, while retaining much of the characteristics of one. Moreover, as your business attorneys in Orange County will tell you, with an LLC, you enjoy protection of personal assets in case the company is sued.
Work with an Attorney If You Decide upon an LLC
Whether you need further information or have decided to go the route of forming your business as a limited liability company, it is very important that you have the guidance of strong and experienced business attorneys in Orange County. Call Hogan Law Group, P.C. today at 877-302-7759.