Many business owners incorporate to avoid personal liability for their company’s financial losses and debts. When a business incorporates, owners and shareholders cannot lose more money than they had invested in the venture. Their personal assets are generally not...
If you form a Limited Liability Company (LLC), many legal requirements must be satisfied. Unlike many other states, New York imposes a specific publication requirement. This publication requirement is the last step that must be carried out after filing your Articles...
Many reasons exist for members to want to dissolve a Limited Liability Company (LLC). For example, financial problems, lack of business, and disagreements might mean it is impossible to continue operations. While members can voluntarily dissolve an LLC, the members...
If you’re starting a company, you may wonder whether a Limited Liability Company (LLC) or a corporation is the better entity type to meet your needs. LLCs and corporations are both legal entities that allow business assets and the personal assets of the owners to be...
If you’re starting a business, you may wonder which entity is best for your needs. Limited Liability Companies (LLCs) are one of the most common structures used in business (LLC) for personal liability protection, tax benefits, and other advantages they offer. An LLC...
An operating agreement is the critical governing document used by a Limited Liability Company (an “LLC”). The Operating Agreement customizes the terms of a company according to the owners' needs. The Agreement outlines how business decisions will be made in a...
