A Limited Liability Company (abbreviated LLC), therefore a Limited Liability Company, is nothing more than a hybrid company form, which gives us the advantages of a Company, a Corporation, or a limited liability.
Limited liability implies that all shareholders are liable for all debts that the company incurs. In most cases, an LLC is formed where two or more people form a partnership. That is to say; they manage to run the business as co-owners.
How to create a limited liability company
The steps are simple and hassle-free. Keep in mind that top LLC companies consultations are key while doing the entire registration process.
Choose a Business Name
First of all, you need to search by name. The reason is that your LLC name shouldn’t be similar to that of an existing business. It is prudent to use a name that is simple and unique.
And not only that.
Use a name that gives an idea of what your business does. Another thing to note is that your business name should end with an “LLC” descriptor. The name must end with an acronym that suggests the business is a limited liability company. Most jurisdictions restrict companies from using names that suggest the company is a government entity. Also, words like Bank, City, and Insurance are prohibited by the laws of various territories.
Filing of articles of the organization
The articles of organization are more or less the same as in the Statute. The following is the payment of a filing fee to the relevant authorities in your state. Organization articles contain all important information about the LLC.
Draw up an LLC operating agreement
This legal document creates the parameters that will govern the LLC. It works to meet the needs similar to those of the articles of incorporation that govern a company.