Start LLC Registration For Your Business

2007-03-08 10:33:40

( Business )



If you are thinking of expanding your business, consider LLC incorporation as a possible next move. When you start LLC (limited liability company) and adopt it as the legal structure of your business, you gain many advantages.

One of these advantages is that your liability for any financial obligations incurred by the LLC will be limited to the actual amount of your investment in the company. Another significant advantage is that once you start LLC operations, incomes generated by the limited liability company will largely be passed on to you and other owners without being taxed. You only get taxed on LLC-derived income when you pay personal income tax on your share. In effect, you are taxed only once on LLC income.

Some states actually allow you to start LLC alone, but most states prefer that several individuals group together in setting up a LLC. You can expand your business faster when you pool resources and talents with people whom you think can help you.

Setting up a LLC is not difficult, but it can be tedious. The first thing to do when you start LLC registration of your business is to obtain approval of your proposed business name from the office of the secretary of state. You will need the approved business name in the various forms that you will complete.

You also need to prepare articles of organization, for which you may need an attorney. You can download the other LLC registration forms from the official website of your secretary of state. There is a lot of paperwork involved in LLC incorporation. You can do everything yourself, but if you do not have the time, you can approach professional firms that offer assistance if you decide to start LLC.

Once you start LLC registration and subsequently complete setting up a LLC, you will be on more solid foundation to maximize the advantages of LLC incorporation and expand your business operations.


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