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Forming an LLC

When starting out, it is important to determine the legal structure of your business. There are several forms of ownership recognized by the government, each having their own advantages and disadvantages. A limited liability company is a form of ownership that allows members the tax benefits and operational flexibility of a partnership and the limited liability features of a corporation.
 
SGWM has years of experience in business law and helping its clients form their LLCs. Regulations vary by state, but among other things, you will need to:

  • Begin by creating a corporate name. It should be unique and one-of-a-kind. You must also incorporate the term LLC within the name.
  • File your articles of organization with your secretary of state. This is a formal document that states general information such as your LLC name, your address, your business’s purpose, and the names of your organization’s members. This document formally announces your new business entity.
  • Create an LLC operating agreement. This agreement is not mandated by most states, but it helps form guidelines for ownership and operational functions of your business. The agreement states each member’s role in the company and their interest in the business, buy-sell provisions in case of an unplanned departure of a member, how profits and losses will be allocated, and more.
 

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Contact us today if you would like to speak with one of our experienced business attorneys about starting an LLC, or you may email one of our business attorneys directly: