New Business Entity Services (LLC)

An LLC, or Limited Liability Company, is a type of business that protects its owners from being personally responsible for the company’s debts. It combines the features of both a corporation and a partnership, giving owners flexibility and protection.

You must choose a unique business name and file Articles of Organization with your state’s Secretary of State. You may also need to create an operating agreement and obtain any required business licenses and permits.

The cost to file an LLC varies from state to state. The price typically ranges from $50 to more than $500. You may also have to pay additional costs such as annual fees, business licenses, and operating agreements.

Yes, you can have multiple businesses under one LLC, also known as a u0022series LLCu0022 in some states. However, it may be easier and offer better liability protection to create separate LLCs for each business.

Yes, a sole proprietor can form an LLC to gain personal liability protection. Changing to an LLC allows the business to operate separately from the owner’s personal finances. a sole proprietor is a separate

An LLC is flexible in how it’s managed and taxed, with owners reporting profits and losses on their taxes. A C Corp is a separate legal entity that pays its taxes, and shareholders are taxed on dividends they receive.