Why an LLC?
The LLC is recognized for it's flexibility and ease of use. It can insulate an owner from a business's liabilities, but it also allows "pass through taxation." When you create an LLC, you'll be creating a layer of separation between yourself, and the debts and liabilities of the business.
IS AN LLC BEST FOR MY BUSINESS?
An LLC has substantial benefits when compared to a sole proprietorship or a general partnership. As mentioned, it shields owners from the debts and liabilities of the business, but still allows "pass-through taxation." Pass through taxation allows someone to report the business's income (and sometime losses) on an individual's personal taxes. Another advantage is that an LLC is easy to maintain. It requires less paperwork, documentation of meetings, official requirements, etc. An LLC legitimizes a company well beyond the sole proprietorship or general partnership status.
Drawbacks
- Minimal Incorporating Protections
- Potential Tax Savings with Other Entities
- Can Be Viewed as Less Official Than an S Corp or C Corp
HOW CAN I CREATE AN LLC?
To form an LLC, Articles of Organization must be filed with the state. With WYBiz.com's unique processes, we'll ensure a smooth process for you and your business.
IT'S IMPORTANT TO REMEMBER:
LLCs are an official entity, so they require annual reports, often require annual fees, and additional taxes may be required.
TO BEGIN:
Creating an LLC couldn't be easier. To start the process, simply request a consultation with one of our representatives, and we'll confirm that this is the right entity for your business.