A distribution from a limited liability company (LLC) is a payment of cash or property made by an LLC to the LLC’s owners, also known as members. Although state law sets forth certain default rules,…
Should You Convert Your Sole Proprietorship to an LLC?
When you are first starting a business, operating it as a sole proprietorship may make a lot of sense. Sole proprietorships are simple and inexpensive to set up and maintain: they are operated by a…
Choosing the Right Legal Entity for Your Business
Americans are hungry to start businesses, and they have more tools at their disposal than ever to tap into the United States’ free enterprise system. But starting a small business requires more than dreaming big.…
The Annual Meeting: What Every Corporation (and Many Limited Liability Corporations) Should Know
All registered corporations are required by law to hold an annual meeting. Limited liability companies (LLCs), although not subject to the same statutory requirement, may hold regular meetings in accordance with their governing documents. What…
How to End Your LLC
When you started your limited liability company (LLC), the last thing you probably had on your mind was ending it. Many LLCs are created for specific purposes, however, and when that purpose has been served,…