• October 2019
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Limited Liability Company

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Start the company you’ve always wanted.

Find LLC lawyers to help you form an LLC – the popular choice with its robust personal protection and flexibility.

– Make sure your filings are in order

– Gain a fresh perspective

– Provides long-term stability


Is an LLC right for you?

A limited liability company (LLC) has quickly become the go-to business entity for those looking for something easy to run, but still be provided personal liability protection. A major benefit for LLCs is the tax arrangement. An LLC itself does not pay taxes, instead the owners pay taxes on their ownership percentage of the LLC profits and their individual tax brackets; this avoids profits from being “double taxed.” Aside from the tax advantages, an LLC provides much more. Unlike requirements for executives in corporations, owners of LLCs are unrestricted by residency requirements and have a great deal of flexibility in sharing profits. Also, the formalities necessary to maintain an LLC are infrequent compared to corporations. An LLC isn’t ideal for every business though. If you plan on bringing on outside investors then an LLC is not preferred. Generally, owners of LLCs are unable to issue stock options to their employees with the same tax advantages as a corporation. It’s also impossible to “go public” as an LLC. As such, many institutional investors, like venture capitalists, have frameworks that don’t even allow them to invest in LLCs. Finally, it can be difficult and expensive to convert your business structure down the road so it’s important to have an LLC lawyer help make the right decision in the beginning.


FAQ


Who can form an LLC?

There are no residency or legal restrictions for owners (also known as members) of an LLC. However, a few states require owners and/or managers to be at least 18 years of age.

Can I use a “do it yourself” website?

You could but you’re exposing yourself to risk. Those sites certainly have limitations, largely in that their forms are standardized and may leave out important details specific to your company. You also miss out on the ability to have an LLC lawyer examine which business entity and state is right for you.

What documents do I need to form an LLC?

Articles of Organization must be filed with the Secretary of State or appropriate state agency. Ideally, the LLC members should also enter into an operating agreement, which sets forth the rights of the members and the rules for running the company. An LLC may also need to apply for a federal employer identification number (EIN) with the IRS.

What’s limited liability protection?

It’s the biggest reason why people choose to incorporate their businesses. It provides owners protection from their personal assets against creditors’ claims. As long as the owners truly treat their business as a separate entity, they retain such protection.

What’s a registered agent?

A business or individual designated to receive service of process when a business is a party in a legal action or when the state attempts to communicate with the company. Some states, like Delaware, require entities registered within its jurisdiction to maintain an in-state registered agent.

Should I choose an LLC or an S-Corp?

While an LLC and S-Corp both have pass-through taxation, the S-Corp lacks the flexibility of an LLC in allocating income to the owners. Also, an LLC may offer several classes of membership interest while an S-Corp may only have one class of stock. In terms of ownership, any number of individuals or entities can own interests in an LLC. On the other hand, ownership interest in an S-Corp is limited to 100 shareholders and cannot be owned by other corporations, LLCs, partnerships, or nonresident aliens.


Reviews 

 


Daniel, H. | ★★★★★

“Simple and trustworthy system. The project manager through text message is a good idea and helps a lot with the process, especially their timely response.”


Rafael, R. | ★★★★★

“I was very comfortable with the environment it was my first meeting and I knew it was on the right track I did understand my lawyer I was listening I did absorb the information given to me.”


Ori, A. | ★★★★★

“Great experience all around, LawTrades was just so much more personal and much better than other startup/online on-demand solutions for legal work,. Almost feels like I handpicked and hired the attorney myself. The Attorney was available to answer questions by phone or text message, so was the LawTrades rep who set the whole thing up. And when setting up new entities you always have questions, so this was a big deal for me. The Attorney assigned to my project was available on demand to help out explain things every step of the way and I think the guys at LawTrades have done a great job with making you feel extremely comfortable. After all was done I even got an email and a call from one of the co founders of the company to make sure I had a seamless experience. I never got a call from other companies I had used in the past like Legal zoom and the whole thing always felt so automated. Yes, granted Legal zoom probably have way more clients than Lawtrades and as such would not be feasible for their management to call everyone, however, that was a nice touch which I do appreciate. I will definitely be heading back to Lawtrades whenever I require legal assistance.”


Tamas, P. | ★★★★★

“Price. I know what I am paying instead of getting surprised. Transparent pricing I know what each bit costs instead of getting a big bill and not knowing what parts cost what and how much was for service vs hard fees such as filing fees. Also things progressed rapidly.”


Yash, P. | ★★★★★

“Amazing service, i cant get over texting to get a lawyer. it’s revolutionary and can legitimately improve the US justice system for people with no access to quality lawyers.”


Janet, S. | ★★★★★

“Quick and easy, I used LawTrades and worked with attorney Jonathan Hood to review a NDA. I got my questions answered right away. Arman was a great help making the connection. Would highly recommend the service.”