We’ve formed LLCs for all manner of clients from manufacturers to Internet companies to real estate investors. No matter what you’re doing with an LLC, you need an experienced hand to guide you through the process, or risk losing the great protections afforded by an Ohio LLC.
What’s an LLC?
LLC stands for limited liability company. It is a legal entity, like a corporation, that is highly flexible and thus ideal for the small business owner. It combines the tax advantages of a partnership with the limited liability of the corporation. It’s also very easy to form and maintain. All 50 states recognize this entity, although different state laws have been crafted that vary across the nation.
An LLC has a feature called passthrough taxation, where the federal and state governments tax the income from your LLC as if you were a partner in a partnership, or a sole proprietor in the case of a single-member LLC. Income from a corporation is double-taxed–first at the corporate level, and then again as dividends to the owner.
An LLC owner generally can’t be sued for more than their investment in the LLC. That is, if something blows up “inside” the LLC which results in a lawsuit, then the most the plantiff can seek from the owner is the assets of the LLC, and can’t seek additional compensation from the owner. This is ideal in real estate situations where landlording can create excess liability.
How do we get started?
Carson Law Firm charges a flat fee of $399 plus state fees in order to form a single-member LLC. As part of this service, we register your LLC with the state and also provide you with an operating agreement.
We also consult for multi-member LLCs. Please feel free to inquire with your specific needs and we will respond promptly.
Here are just a few of the services we also provide with respect to your LLC:
- Comprehensive, custom operating agreement tailored to your business structure
- Buy-sell agreements
- Estate planning provisions for your LLC
- International tax planning advice
- Drafting and recording of deeds to the LLC
Whenever you buy or sell a property through your LLC, the bank or title company will likely ask you for a “resolution.” This document, with the signatures of all (or a majority) of the members, memorializes a vote or activity that the LLC has decided to undertake. Carson Law Firm can prepare a resolution for you.
LLC Operating Agreement Amendments
Sometimes your LLC’s needs change after you and your partners have signed an operating agreement. Carson Law Firm can help you modify your operating agreement pursuant to its terms and make certain that the result is legally enforceable.
Call us today at 888-403-1259 or email us using the form below.