Many new businesses are formed each year and it seems that for our clients, experienced attorneys and CPAs, the question always is: which business entity is the best choice for my client’s new business? One somewhat new option available in many states is the LLC. State laws surrounding the formation of an LLC vary, but certain businesses (such as banks) generally cannot be LLCs. An LLC, or Limited Liability Company is a business structure allowed by state statute that combines aspects of a partnership and corporation. Each state may use different regulations and Attorneys Corporation Service, Inc. is familiar with the rules regarding LLC formation in each of the 50 states. What’s more, Attorneys Corporation Service, Inc. can form your client’s LLC in 24 hours.
Here are a few LLC advantages that might be making it so popular among new business owners:
- Members (akin to shareholders in a corporation) are afforded limited liability and have pass-through taxes similar to a partnership.
- By forming an LLC, your client gets all the benefits of a corporation but avoids a few drawbacks that come with this business entity (however, a corporation is viable option for many business owners. Click here to learn more).
The LLC allows for multiple owners, or members. However, as many of our tax lawyers and CPAs know, if the LLC has just one owner, it will be taxed as a sole proprietorship. Additionally, the profits or losses of the business pass directly through to the owners’ personal income tax returns, on their Form 1040. The LLC files a Form 1065, and then lists each member’s taxable profit on Form K-1. In other words, the LLC itself does not file taxes; thereby avoiding double taxation.
Not surprisingly, turnaround times for forming an LLC through the Secretary of State are not quick; one of the many reasons our clients use us for their LLC formation needs. Not only can we file your client’s paperwork with the Secretary of State, but we can draft your client’s articles of organization using our Draft N’ File service and notify you when your client’s new LLC has been approved.
Need to make sure your client’s desired business name is available? Of course you do — let us run a quick thorough business name availability check for you. Lastly, let us create a professional, customized LLC kit for your clients new business! Our LLC kits are ideal for storing important business-related documents.
Contact Attorneys Corporation Service, Inc. today to form client’s new LLC in 24 hours.
Attorneys Corporation Services, Inc., has been the leading choice for top corporate attorneys, financial advisors, CPAs, enrolled agents and business professionals for over 35 years. We provide fast, reliable formation services and quality products. For customized Corporate Kits, LLC Kits, Estate Plan Organizers and Corporate Supplies, your premier source is Attorneys Corporation Service. We also have solutions for tough filing assignments. Call us at 800.462.5487 or check us out online at www.AttorneysCorpServices.com