An LLC can be used to combine the limited liability features of a corporation with the flexibility and tax benefits of a partnership. Owners of an LLC are generally known as “members.” Management and control of the entity resides with the members unless otherwise provided in the formation documents.
While an LLC does require the filing of Articles of Organization and the adoption of an Operating Agreement by its members, CorpNet® document filing service can provide you with the assistance you need to meet these requirements with minimal investment of your valuable time and money.
Forming a Limited Liability Company is for owners wanting a separate business entity for liability protection, but with fewer formalities. They also want the choice between pass-through and corporate taxation, as well as the ability to allocate profits and losses in proportions different from ownership interests.