TopConsumerReviews.com
      November 20, 2017

Home  >  Company Incorporation  >  Articles

Your Information Is Secure
Online Legal Protection For Your Business Newsletter

Latest Reviews

Baby Cribs

Credit Card Consolidation

Graduation Invitations

Gutter Guards

Hair Care Products

Installment Loans

Makeup

Reverse Mortgages

Tickets

Web Hosting

 

Related Articles

What are the Main Differences between an LLC and an S-Corp?

What Is a C-Corporation?

What Is an LLC?

What Is an S-Corp?

Which Type of Company Incorporation is Right for You?

 

Top Consumer Reviews Articles

TopConsumerReviews.com provides unique articles that you won't find anywhere else on the internet. These articles are designed to help you make the most informed decisions possible.

What Is An LLC?

When you first come up with the idea of a business, it’s the most tempting thing in the world to jump right in and get started. But the realities of taxation and federal and state regulations are best faced during the planning stages of a new venture. For small business owners, the legal structure of the concern can affect taxation on both a federal and state level – as well as a host of other legal and financial matters. Among the choices in structure are sole proprietorship, limited liability corporation (LLC), S-corporation, and partnership. Of these, the LLC is prized by some but often misunderstood.

What is an LLC? An LLC is a legal entity separate from any of the individuals involved in ownership of the venture. Among the primary attractions of this structure is that no owner – or member, as defined in this structure – is individually liable for the debts or obligations of the business. This factor may not seem relevant when sales are booming and the business is flush. But during times of economic distress, if the business falls on hard times, it can save you the inconvenience of sleepless nights.

Commonly, the LLC structure is applied to partnerships and other businesses with a small number of owners. But sole proprietors too can take advantage of its benefits.

Taxation
The federal government taxes LLCs in one of two ways: As a pass-through entity or as a corporation. When an LLC is taxed as a pass-through, the profits go to the owners. The owners in turn pay taxes on those profits when they file their individual tax returns.

Formation
Each state treats the LLC structure differently. Generally, it is simplest to form an LLC in the state in which you do business. However, if you prefer, you can form an LLC in a different state. You must become familiar with the regulations of the state you choose to avoid running afoul of any rules. Some owners choose to form an LLC is a state different from their own – a foreign state – because their native state levies high taxes.

Registered Agent
A registered agent is a person or company on whom notice must be served in case of a lawsuit. It’s no fun thinking about potential legal action even before your business is off the ground, but when you form an LLC, you have to name a registered agent. You can choose an owner or manager of the LLC. But naming an independent party or even another company can lend peace of mind. In fact, any adult who lives in the state where the LLC is formed and who has a street address -- rather than a post office box -- can serve as your registered agent. Of course, you want to select a registered agent who is responsible and trustworthy.

Management
The LLC members may choose to manage the entity for themselves. If your members are scattered about the United States, however, it might be prudent to hire a manager. Of course, no matter what your choice, regular communication with the manager is essential to successful business operation.

An LLC is a business structure that may offer tax advantages. Consult your accountant and/or tax professional and consider carefully when deciding whether to form an LLC.

Almond grower: Many benefits from whole orchard soil incorporation

The loss of more than half of the biomass power generation capacity in California has left growers with few disposal alternatives for wood generated by whole orchard removals. While piling and burning pulled trees has been the standard practice ...

Published:  Wed, 15 Nov 2017 14:34:00 GMT



Freeport celebrates 125th anniversary of village incorporation

Freeport celebrated the 125th anniversary of its incorporation as a village last month, kicking off a year of history-themed events. Residents voted 214 to 132 to be incorporated as a village in what was then part of Queens County on Oct. 18, 1892, at the ...

Published:  Tue, 07 Nov 2017 08:15:00 GMT



Apple Valley visionary remembered: Dick Pearson credited with starting incorporation movement

APPLE VALLEY - Thirty-three candidates vied for the seats that would make up the first Town Council, but among the favorites was the man credited for starting the movement that led to incorporation. When votes from the Nov. 8, 1988, election were finally ...

Published:  Mon, 06 Nov 2017 23:53:00 GMT



INCYTE CORPORATION (NASDAQ:INCY) Files An 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

INCYTE CORPORATION (NASDAQ:INCY) Files An 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal YearItem 5.03 Amendment to Articles of Incorporation or Bylaws; Change in Fiscal Year. On November15, 2017, the Board of Directors (the ...

Published:  Fri, 17 Nov 2017 08:09:00 GMT



Infibeam Incorporation executes agreement with Adani Wilmar

Infibeam Incorporation has executed an agreement with Adani Wilmar to develop, integrate, implement and maintain an online ecommerce and mobile platform with integrated logistics framework for on demand customer purchase of Adani Wilmar Products.

Published:  Tue, 07 Nov 2017 21:07:00 GMT



Incorporation And Domiciliation Services

Companies incorporated in Luxembourg have to register their registered office and a business address in the territory of Luxembourg. Incorporation of a company requires various steps and documents, from choosing a type, a name and an address of the company ...

Published:  Wed, 08 Nov 2017 23:14:00 GMT



BRIEF-Fujian Aonong Biological Technology Group Incorporation unit acquires stake in two firms

* Says its unit acquired 100 percent stake in a agricultural development firm for 1 million yuan * Says its unit acquired 40.2 percent stake in Jinhua-based livestock breeding firm for 11.2 million yuan and raised 60 percent stake in the livestock breeding ...

Published:  Tue, 07 Nov 2017 18:20:00 GMT



Infibeam Incorporation Ltd Q2 consolidated PAT jumps to Rs. 21.55 crore

Infibeam Incorporation Ltd. has reported financial results for the period ended September 30, 2017. The company has reported net sales of Rs.204.75 crores during the period ended September 30, 2017 as compared to Rs.119.22 crores during the period ended ...

Published:  Tue, 14 Nov 2017 03:16:00 GMT



Share Us!    Share TopConsumerReviews.com on Twitter Share TopConsumerReviews.com on LinkedIn Share TopConsumerReviews.com on Google+ Share TopConsumerReviews.com on Pinterest

Home      About Us      Terms & Conditions      Privacy Policy      Contact Us      Disclosure