Limited Liability Company (LLC)
Limited Liability Company (LLC) Overview:
Shield your personal assets the way a corporation does and enjoy ease of maintenance with a Limited Liability Company, or LLC. A Limited Liability Company (LLC) is a business structure allowed by state statute. LLCs are popular because, similar to a corporation, owners have limited personal liability for the debts and actions of the Limited Liability Company and personal assets remain protected.
Other features of Limited Liability Companies are more like a proprietorship or partnership, providing management flexibility and the benefit of pass-through taxation. Limited Liability Companies can be organized as single or multi-member entities and we specialize in fast Limited Liability Company organization.
RushFiling will be the LLC organizer executing all formation documents allowing your articles to be submitted immediately to the proper governing agency. Protect your personal assets and enjoy easier business operation by letting RushFiling set up your Limited Liability Company with our expedited filing!
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LLC - How it works:
You won't have to read any complicated instructions, and there's nothing to print out or put together on your end. RushFiling has eliminated the stress of the business formation process with just 3 Easy Steps...
Start by filling out a precise online questionnaire developed by our staff of legal advisors. Part of the RushFiling guarantee is that our professionals handle every order personally and that your data remains confidential.
Our online questionnaire is free, safe & secure! You can save your work & return to it at any time. You may also call us toll free at 1-888-634-8316.
As soon as we receive your completed questionnaire, RushFiling perform a thorough review of your information - including a check for accuracy and name availability. We then draft your articles, execute and file all required documents with the appropriate state or federal agency. RushFiling executes the formation articles as the LLC organizer which allows for immediate submission.
Once your formation documents are approved, we'll send you a completion package directly to your doorstep. Whether you choose to form an LLC, an LLP or a corporation, all you have to do is sit back and let the specialists at RushFiling take care of business.
Limited Liability Company (LLC) Prices:
Let the experts RushFiling take care of business! With us, you'll save time and costly attorney's fees when forming your Corporation, Limited Liability Partnership (LLP) or Limited Liability Company (LLC). One online visit or phone call to RushFiling is all it takes to get started on your business entity formation. Family owned and operated, RushFiling is dedicated to providing quality service for our valued clients.
- Easy! Make only one online visit or call to our online document processing center — we do the rest.
- Affordable! Much less than attorney's fees and competitive in the online market.
- Fast! We start processing your order within 24 hours or less.
- Personal! We take pride in the services we offer.
Form the business entity that's right for you!
Limited Liability Company (LLC)
A limited liability company, or LLC, is an innovative business structure that's easier to operate than a corporation, provides protection against its owners as far as personal liability for business debts and delinquencies, and allows owners to avoid the burden of double taxation that attaches to a regular corporation. A LLC combines the tax advantages of a sole proprietorship or partnership with the liability protection of a corporation.
Yes. Converting a sole proprietorship or a partnership to an LLC is an easy way for sole proprietors and partners to protect their personal assets without changing the way their business income is taxed. Some states provide a simple form for converting a partnership to an LLC (often called a "certificate of conversion"). Sole proprietors and partners in states that don't provide a conversion form must file regular articles of organization to create an LLC. In some states, before a partnership can officially convert to an LLC, it must publish a notice in a local newspaper that the partnership is being terminated. And in all states, you'll have to transfer all identification numbers, licenses, and permits to the name of your new LLC, including:
Going to the expense of hiring an attorney to help your form your Limited Liability Company is not always necessary. There's no law that requires you to use an attorney for the LLC formation process. A lawyer may provide you legal advice, direction or opinions but we would recommend you to take advantage of RushFiling's expertise and fast turnaround time in the LLC formation process.
RushFiling can handle your LLC formation with ease. All you need do is supply us with your basic information, either online or by telephone. We'll take care of everything else-including the preparation, execution and filing of all required legal documents with the appropriate governmental office of your chosen state. We'll also follow up by sending you an Limited Liability Company package that includes seals and certificates for your approved LLC formation documents.
The minimum membership requirement in each of the 50 U.S. states, as well as the District of Columbia, is one person. Keep in mind that single member or multi member LLC's fall into a very specific tax category. You can elect your Limited Liability Company to be taxed as a disregarded entity, either sole proprietor or partnership, or as a corporation.
Like the partner in a partnership, and the stockholder or shareholder of a corporation, the owner of a Limited Liability Company is known as a member. LLC managers, selected by the LLC members to manage the business, are similar to directors of a corporation. Just as a director of a corporation can also be a shareholder, a manager of a LLC can also be a member.
There are three basic documents you'll need to create and file in the formation of your LLC. The first is your LLC's Articles of Organization, usually a one-page form that states the name of your LLC, the purpose of your LLC, your registered agent and the names or your members or managers if they're known at the time of filing. This document, sometimes known as a Certificate of Formation, must be filed with the Secretary of State or similar state agency in your chosen state or states. Unless you're a single-member LLC, it's sound business to have all the LLC partners to draw up an operating agreement. Although entering into this type of contract, which defines and delineates issues that include ownership percentages and responsibilities in the running of the LLC, it could prevent confusion and misunderstanding down the line. You will also need to apply for a federal taxpayer ID number or EIN for tax purposes.
An operating agreement is a formal document that sets forth the basic understanding by and among LLC owners as to how the Limited Liability Company will exist, be managed and be run. It's an internal compilation of issues agreed to by all the members of the Limited Liability Company. It is not required by law that your LLC have an operating agreement, but it is a sound business practice to have such an agreement in place to avoid confusion and problems.
An operating agreement usually sets forth the names of the members and their corresponding ownership percentages, what is expected of each member or manager as far as business conduct and performance, procedures for transferring ownership interests or assigning profits and losses, terms for adding or removing members, and conditions under which the Limited Liability Company may be dissolved. Any other point of concern as far as LLC operation or existence may be included in the agreement.
The risk you run by not having an operating agreement in place, in addition to internal confusion, is that your LLC's limited liability status could be placed in jeopardy. Without an operating agreement, your Limited Liability Company could also be forced to operate in accordance with your home state's default operating requirements rather than the way that you as owners would prefer that your company operate. In projects taken on by your LLC in which a good deal of capital or a substantial line of credit is at stake, some lending institutions may require your LLC to have an operating agreement.
Like sole proprietorships (one owner businesses) and partnerships, a Limited Liability Company is not considered a separate entity from its owners for tax purposes unless an election is requested. This means that the LLC does not generally pay any income taxes itself; instead, the LLC owners pay taxes on their allocated share of profits (or deduct their share of business losses) on their personal tax returns.
LLC owners can elect to have their LLC taxed like a corporation. This may reduce taxes for LLC owners who need to retain a significant amount of profits in the company.
Our 3 Step Process
- 1 Get your LLC started by answering some simple questions.
- 2 We'll then prepare & file your Articles of Organization.
- 3 Upon completion of your filing, the original Articles of Organization will be mailed to you immediately.
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