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As part of the LLC formation process, you’ll have choices to make. Learn about single-member LLCs versus multi-member LLCs and which ownership structure makes the most sense for you. Most people chose to form their LLC in the state where their business is located - known as a domestic LLC. But there may be situations where creating an LLC in a different state - known as a foreign LLC - might be advantageous. You’ll also want to understand the difference between member-managed and manager-managed LLCs so you can choose which management structure is right for you. If you’re a professional, you’ll need to learn about professional LLCs and the special rules that apply to licensed professionals in some states.
Most LLCs need to raise capital to get started with their business. Read about some of the more commonly-used options for obtaining funding.
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A professional limited liability company (PLLC) is a business entity designed for licensed professions, such as lawyers, doctors, architects, engineers, accountants, and chiropractors.
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Like all businesses, LLCs must follow certain record keeping rules to avoid problems with the IRS, investors, owners, and others.
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Here you will find out everything you need to know about LLCs, including the advantages of an LLC versus other business entities, how to form an LLC in your state, what to put in an LLC operating agreement, and how LLCs are taxed.
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Nolo can help you create your LLC. Use Nolo's Online LLC to form your LLC or, for a list of Nolo's business formation books, forms, and online applications, see the Business Formation section of our store.
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Starting in 2024, registered businesses must report information about their owners to FinCEN. Learn whether your business qualifies for this reporting requirement and when and how to file the BOI report.
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A limited liability company (LLC) is a popular business structure combining both the liability protection of a corporation and pass-through taxation of a partnership. One advantage of an LLC is the flexibility it offers in terms of management and ownership structure.
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