Frequently Asked Questions

What is the process for an individual to form an LLC?

Forming an LLC, or Limited Liability Company, is a process that involves several steps. The Revised Uniform Limited Liability Act, in Section 102, outlines who can be a member of an LLC. This includes individuals, corporations, business trusts, estates and trusts, agencies, partnerships, other LLCs, associations, joint ventures, public corporations, government subdivisions, and any legal or commercial entities. To form an LLC, an individual or a group of individuals must file articles of organization with the Secretary of State (SOS). The LLC is then regulated under state law in the state where it was formed. The process of forming an LLC can be undertaken by a single individual, creating a single-member LLC, or by multiple members, creating a multiple-member LLC. It's important to note that while corporations can be members of an LLC, they are not required to be incorporated in the same state where the LLC was formed. When a corporation is a member of an LLC, it provides an additional layer of protection from liability for the shareholders of the corporation.