Limited Liability Company Kit
Why Form An LLC? Why Use This Kit?
Attorneys typically charge between $500 and $1,000 to
form a Limited Liability Company. When a business is new, money is tight;
couldn't you find a better way to invest that money? LLCs hybrid a
corporation and partnership; the owners of an LLC receive the limited
liability of incorporating without all the paperwork and government
regulations. An LLC must have two or more owners. This Kit includes all
the documents you need to form an LLC in your state, along with full
instructions. It discusses what an LLC is and the advantages of forming an
LLC in your state. (You will need to pay state fees when you submit the
documents; fees vary from state to state, averaging $100 to
$150.)
So What Are The Advantages Of An LLC?
LIMITED LIABILITY - The liability of the owners is
limited to the extent of their investment in the LLC (with the exception
of unpaid taxes.) Creditors cannot attach property of the owners. The LLC
can enter into contracts, sue and be sued without involvement of the
owners.
MEMBER CONTRIBUTIONS - Capital can vary but it can
consist of cash, property, services, or the obligation to contribute
additional cash.
TAX OPTIONS - Properly structured, an LLC is taxed as
a partnership rather than a corporation for federal income tax purposes.
Since LLC's can be taxed as partnerships
it can avoid double
taxation.
GOVERNMENTAL REGULATION - An LLC is subject to fewer
governmental regulations and a lot less paperwork and filing fees than the
typical corporations.
Complete forms and instructions with optional 3.5 inch software disk.
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