Frequently Asked Question - Should I form an LLC?

What is a Limited Liability Corporation?


Like a Corporation, a Limited Liability Company (LLC) limits, in most cases, liability to the company and liability does not extend to the owners of the company.  An LLC is in most respects simpler to create and to operate than a Corporation and most people choose this form of business organization over a Corporation.  A person operating a business or contemplating starting a business must decide if there is sufficient risk to recommend the use of an LLC.  A person might decide that he is adequately covered by insurance and does not need the added protection of an LLC.  However, most attorneys will recommend the creation of an LLC in most types of business operations due to the ease and simplicity of forming an LLC coupled with the limited liability it provides.

Advantages of forming an LLC

  • You may have flexibility in taxes.  An LLC can elect to be taxed as a sole proprietor, partnership, S corporation, or another type of corporation if it qualifies.  
  • You may have limited liability.  The owners of the LLC, called "members" are protected from some or all liability for acts and debts of the LLC depending on state laws
  • There is much less administrative paperwork and record keeping than a corporation


Contact the Law Offices of Philips, McElyea, Carpenter & Welch P.C. for questions on LLC formation or other Business entity creation

Whether you need help planning and incorporating a new venture from the ground up, or you need legal support and documentation for your established business, the experienced lawyers at Phillips, McElyea, Carpenter & Welch, P.C. can help you with a wide variety of legal issues. Such services available to our business clients include:
  • Selecting an appropriate business form
  • Incorporation and creation of corporations, limited liability companies, partnerships, etc.
  • Drafting contracts and other legal documents
  • Winding down and dissolving your business
  • Litigation support for disputes with vendors, customers, partners, regulatory authorities or other types of business disputes
We Are Effective Camden County Lawyers for all of your legal needs.
We Are There When You Need Us.

Subscribe to our blog for interesting legal information, announcements, and happenings around Lake of the Ozarks.
---------------------------------------------------------------

Law Offices of Phillips, McElyea, Carpenter, & Welch, P.C.
The choice of a lawyer is an important decision and should not be based solely on advertising. When you need a knowledgeable attorney, we invite you to contact us to set up a consultation. Evening and weekend appointments are available. We have access to interpreters.
We accept Visa, MasterCard, and Discover

Phillips, McElyea, Carpenter & Welch, P.C.
85 Court Circle N.W., P.O. Box 559
Camdenton, MO 65020   GET A MAP
(573) 346-7231 - Telephone
(888) 236-2485 - Toll Free
(573) 346-4411 - Fax


Location: Camdenton, MO 65020, USA

Comments

Post a Comment

Popular posts from this blog

5 Reasons To Hire A Criminal Defense Attorney

Image
Criminal charges can turn your life upside down. If you are found guilty, you can suffer numerous consequences, including fines, imprisonment, and effect on your permanent record. If you are facing criminal charges, hiring an experienced criminal defense attorney can make a world of difference. Consider these reason why you should hire a criminal defense lawyer to represent your case. 1. Your Attorney Understands The Law It's no secret that the legal field is complex. Every law has exceptions, and every circumstance has different specific requirements. You need a criminal defense attorney that has experience dealing with these minute details and can help you use them to build a solid case. 2. Your Attorney Knows The Scene The Missouri Courts are like a world of their own. Each court has its own set of rules, social norms, and strict guidelines governing what behavior is and is not acceptable. If this is your first court case, you can not possibly know all of these unspo
Read more

Legal Tips to Be Aware of When Entering Into a Marriage

Image
Congratulations! It is 2019 and this is the year you are getting married. Among all of the wedding planning, you probably haven't had time to think about the legal side of getting married. While it is not the most glamorous side, it is worth taking a look into. For example, has your fiance brought up the notion of signing a prenuptial agreement (prenup)? It is best to know what all comes with a prenuptial agreement and the advantages and disadvantages of choosing to sign one. Our attorneys at the Lake of the Ozarks are here to give you a few legal tips to be aware of when entering into a marriage. If you find yourself need a prenuptial agreement drawn up, call Phillips, McElyea, Carpenter, and Welch   today for your free consultation at 573-346-7231. Legal Tips to Be Aware of When Entering Into a Marriage Do You Plan to Legally Change Your Name After You Get Married? If you plan to change your legal name after marriage, here is what you need to do. According to the Misso
Read more

Consequences Of Having A Criminal Record

Image
If you are facing criminal charges, it is imperative that you contact one of our criminal defense attorneys in Camden County MO immediately. Criminal law is complex and involved, and representing yourself can be challenging, overwhelming, and risky. Regardless of whether or not you actually committed the crime in question, being found guilty can negatively impact your life for years to come. Here is a look at some of the consequences that may result from having a criminal record. Difficulty Getting Accepted Into Schools Schools have a moral and ethical responsibility to keep their students, faculty, and staff safe. On the applications for almost every university or college, applicants must list whether or not they have been convicted of a crime in the past. If the answer is yes, the applicants may experience greater difficulty getting accepted into the schools of their choice. These challenges pursuing higher education may, in turn, make it more difficult to find quality
Read more