The LLC, or Limited Liability Company, is a business structure that was invented to offer an array of advantages usually provided by other traditional business forms. Limited liability is an advantage that the LLC shares with the corporation, but instead of being taxed as its own entity, it is viewed more like a sole proprietorship or partnership for tax purposes. An LLC can also have an endless amount of shareholders, like a corporation. However, the LLC is dissolved if one of those members dies or files for bankruptcy. Different forms of limited liability companies have been around for hundreds years, but the modern LLC, like the legislature enacted in New York, became more popular in the past several decades.

Can My Business Be Formed as an LLC?

The right business form is a decision left up to each business that openes in New York. An LLC is started just by filing the appropriate form with the Secretary of State. There can be a fee required for opening your LLC, however. Applicable New York laws govern the formation of LLC's and their actions. You should consider these laws when deciding whether to organize your business as an LLC. Finding the right business structure for your company might take some effort, but it will ultimately make your business more profitable.

Can I Change the Form of My Business to an LLC?

A business in Wappingers Falls may change its form under particular conditions. Whether or not a business is eligible for conversion to a LLC is a determination made by applicable New York laws.

How Can an Attorney Help?

The decision of whether to form or convert to a LLC is best considered with the advice of local lawyers practicing business law in New York.