Chances are, if you are searching for an “LLC lawyer near me,” you may be starting a new business or partnership. A Limited Liability Company (LLC) is a special structure that limits the personal liability of the owners. While profits and losses are typically reported on the owner’s personal tax returns, the owners themselves are not personally responsible for the debts of the company.
An LLC is a mixed business venture that mixes the limited liability features of a corporation with the taxation advantages of a partnership. There are many tax advantages to filing an LLC, in addition to the protection of personal assets.
No annual shareholder meetings or board of directors is required with the LLC business structure, but it is often necessary to hire an “LLC lawyer near me” to take full advantage of all the benefits. Here’s what you need to know.
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Determine LLC Eligibility
Certain criteria must be met for LLC eligibility. While an attorney is often not required to register a business as an LLC, they do make handling the legal paperwork quite a bit easier. It can often be difficult for the layperson to decipher legal jargon, but an attorney can make that process much easier.
Home for Your Business
Many businesses operate in more than one state. Each state has its own protocols and requirements regarding businesses and LLCs. A great LLC lawyer can look at the laws of the state where a business operates and help the owners determine the best home for their business. They can advise on the best state to register an LLC where the business can enjoy the most benefits.
Draft and File Articles of Organization
Many states allow business owners to draft their own articles of incorporation and file them with the secretary of state’s website, but that doesn’t mean it’s a good idea. A skilled LLC attorney can help decipher the legal jargon to ensure the LLC is properly formed, drafted, and filed from the very beginning.
Maintain Compliance
Most states have strict regulations governing the form and operation of businesses as LLCs. The right attorney will ensure a company is compliant with all state and local laws regarding company operations. Not only does this save time and money, but it ensures a smooth experience for all involved.
Keep Detailed Records
Maintaining compliance with state governments and the internal revenue service requires meticulous record-keeping. An LLC attorney will not only ensure your company maintains accurate records, but they will help ensure those records reach the appropriate destinations at the right time. They will help protect against the negative consequences of a potential audit or lawsuit.
Save Time and Reduce Stress
There’s a lot that goes into running a company but operating an LLC appropriately requires a ton of energy and resources. Utilizing the services of an experienced LLC attorney saves time and reduces stress for business owners. They take care of the legal mumbo jumbo so that business owners can focus on running their businesses and making a profit.
Consult an Experienced LLC Lawyer Near Me Today
If you own a small business or are considering starting one, you may need to consult with an LLC lawyer near me. The right LLC attorney can help you file your business structure in the best state, maintain accurate records, and ensure compliance with state and local laws. They can help protect against the negative ramifications of an audit or frivolous lawsuit while saving time and stress for the business owner. Partnering with a great LLC attorney means you can focus on what you do best, running your business and increasing revenue.
