A big decision that you have to make when you make the choice to form a business is figuring out what kind of an organizational structure you are you going to operate your business under. You have several choices when it comes to deciding on a business entity. As an example, your company can be formed as a corporate structure, a limited liability company, or a sole proprietorship.
One of the most popular business structures in use today is the limited liability company, or what is more commonly referred to as an LLC. With a limited liability company, your small business will have many of the benefits of a more traditional corporate structure, but not all of the reporting requirements of a corporation. Of course, you should seek the advice of a competent professional before you decide on a structure for your business.
As you consider incorporate LLC, there is the choice of using an online limited liability company formation service such as LegalZoom. LegalZoom offers LLC formation packages starting at only $149 (plus state filing fees), so they are a very affordable alternative to using a traditional law firm. LegalZoom takes care of all of the state required paperwork for you, and provides you the paperwork you need to be able to manage your limited liability company as your state requires.
If you do go with incorporation LLC, and you create the LLC and run it the correct fashion, you are giving yourself a certain degree of personal liability protection that does not exist if your business was operating as just a sole proprietorship. Of great importance is that you decide on structure of business that will give you the liability protection that is necessary in the current lawsuit happy environment of today.
Creating an LLC is a good move if you want to become an entrepreneur. Seek professional advice before you make a decision about your business structure, but most likely you will be told that you cannot go wrong with a limited liability company. Making use of an online LLC formation company like LegalZoom just makes sense, as it will save you time and money while creating your business structure the correct way.
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