LA Business Connect

The LLC appeals to the business community because it requires less maintenance than a corporation and allows for flexible ownership agreements because unlike the corporation ownership is based on percentages not shares. Owners of an LLC are referred to as members.

The guiding document that governs the LLC is called an Operating Agreement and is generally drafted by the members upon the initial post filing meeting. The Operating Agreement typically lists the members, percentage of ownership and other guiding provisions that will determine how the company will be managed. The Operating Agreement is essentially a private partnership agreement between the members and is not filed with the state.

Advantages

• Limited personal liability
• Pass-through taxation
• Flexible ownership structure
• Less formalities and paperwork

Filing Turnaround: 7 – 10 Business Day’s

LLC Formation package:

* Includes State Filing Fees

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