Limited Liability Company Formation
The Limited Liability Company (LLC) is widely recognized as the most flexible choice for new business formations, while still retaining the limited liability traditionally associated with the formalities of a corporation. For most new business owners, the LLC is the best choice. They are relatively easy to form and require fewer formalities in operation.
The owners of an LLC usually opt to be taxed as a partnership, which means that they receive the benefit of flow-through tax treatment. Unlike a traditional corporation, the enterprise does not pay any taxes on its own. The savings can be substantial. For example, a corporation’s profits are taxed before distribution at rates of 15-35%, plus applicable state corporate taxes. The individual shareholders then pay taxes on the profits distributed to them in the form of dividends at their ordinary income tax rates. With an LLC, however, profits are distributed directly to the owners without being taxed at the corporate level. The Savings are substantial.
Form a Limited Liability Company in New Jersey
To begin the formation of a limited liability company in New York or New Jersey, contact us for an initial consultation you may use our real-time chat support or call us at 888-602-5990.
Business Lawyers Counseling Limited Liability Company Owners
The attorneys at McDaniel Law counsel the owners of limited liability companies on formation, management, mergers and acquisitions and litigation. Unlike on-line filing and non-lawyers services, we work with clients to develop a plan that is tailored to the specific needs of the owners of the business. We form the LLC, prepare the operating agreement, obtain a tax identification number and assist with the initial organization meetings of the business.
Our fees are competitive with non-lawyers services, but unlike these one-size-fits-all providers, we provide advice and counseling. We help our clients avoid future disputes with carefully drawn agreements that meet the needs of the specific business.
Operating Agreements are a Necessity
Many owners of limited liability companies make the mistake of starting a business without an operating agreement. Even if there is only one member of the LLC, an operating agreement provides added assurance against personal liability for claims at a later date. It is also necessary at times to be able to demonstrate to banks, customers and others that the LLC has a valid operating agreement.
Preparing an effective operating agreement requires an understanding of the business and the people involved. There are many decisions that need to be made and we assist the owners of limited liability companies in making wise decisions that protect them and their business.
Registered Agent Services are Included
Many non-lawyer services offer service as a registered agent for a substantial annual fee. As long as an LLC is a client of the firm, we act as registered agent without charge.
Create the LLC Today
We offer same day and next day services for clients that have a pressing need, including the formation of the LLC, an operating agreement for your review and a tax identification number. Additional fees apply. Our normal turnaround time is 3-5 days.
Our Network of LLC Professionals
As attorneys for many small businesses, including limited liability companies, we have a valuable network of professionals and others to whom we can refer you, including accountants, insurance providers and financial professionals. We gladly share our contacts with clients of the firm.
Contact us to start the process of forming a new limited liability company through our real-time chat support. You may also reach us at 888-602-5990