FORMING AN LLC (LIMITED LIABILITY COMPANY)
The limited liability company entity is a relatively new form of business organization in California. The authorization of the LLC form of business under state statutes is intended to give flexibility to businesses in meeting their tax and business objectives.
A limited liability company combines some of the best characteristics of the partnership and corporation while eliminating some of their less desirable characteristics. The owners (called "members") of a limited liability company, like shareholders of a corporation, are not generally liable for the debts of the business. Yet, like a partnership, double taxation is avoided because the profits of the company are not subject to income tax liability imposed upon the company. Furthermore, unlike limited partners in a limited partnership, members of a limited liability company may actively participate in management without becoming subject to unlimited personal liability. The members of an LLC enjoy significant freedom under California law to fix their rights and obligations by agreement as to most matters.
One or more persons may form a limited liability company by signing and filing articles of organization with the California Secretary of State. If the members conduct business prior to filing the articles of organization, they run a substantial risk of having the LLC treated as a general partnership with liability of all members for all obligations incurred prior to filing the articles.
The articles of organization must disclose basic information about the limited liability company for public inspection, including, among other items:
The name of the California LLC;
The name and address of an agent for service of legal process on the limited liability company. (This agent may be an individual, a California limited liability company or corporation, or a foreign limited liability company or corporation authorized to do business in California);
If the company will be managed by:
More than one manager;
All limited liability company members.
The latest date, if any, on which the limited liability company must dissolve.
The articles of organization may include any other legal provisions.
The Preparation of the LLC.
Preliminary clearance of your LLC's name.
Filing of Articles of Organization.
Custom operating agreement, including provisions protecting officers and managers from liability.
LLC Kit embossed with your company name.
Official Company seal.
20 customized membership certificates with transfer ledger.
Unlimited revisions for 30 days along with lifetime customer support.
PACKAGE PRICE: $250 + State Fee
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