The benefits of an LLC business structure

You have run the numbers and conducted market research. Now you are ready to take the plunge and become a Georgia small business owner. Choosing a Limited Liability Corporation as your entity’s structure has many benefits, including flexibility, as your company grows. At The Roberts Law Firm, P.C., we assist clients through all phases of their business, from startup and development to implementation and business succession.

Once you have chosen a name for your company and confirmed it is not used by another organization, you must register the business with the state. According to Inc, one of the benefits of registering an LLC is that it is simple and once completed, you can get bank accounts, business checks and an Employer ID number. There is also very little documentation such as by-laws, board meetings and other similar requirements that C- and S- corporations must have.

Another benefit of an LLC is that you can avoid the double taxation of the C-corporation business structure while still keeping your personal assets separate from your company’s. This means that you and your organization must file taxes separately, unlike a sole proprietorship. The entity also supports multiple classes of stock, which give you flexibility when it comes time to accept investors.

Although most entities establish themselves in the state where they reside, with an LLC, that is not a requirement. Some states, such as Delaware, are business-friendly and have low costs. Look into your state to check out registration guidelines and requirements of having a business and the taxes to which you are subject before making a final decision. Visit our webpage for more information on this topic.


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