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- Rodney Mesriani is a former Law Clerk to U.S. District Court Honorable Judge William J. Rea and to the California Department of Corporations.
- He also appears in various TV and radio shows and hosts his own radio shows on 870AM and 670AM.
Limited Liability Corporation Establishment
Being a business owner yourself, you're going to encounter things which would require wise decisions. This is especially true when you're undergoing limited liability corporation establishment. There are many structures of business formations that would fit to your business, but so far a limited liability company offers greater flexibility for its members, particularly for tax purposes.
A limited liability company enjoys particular advantage over other companies:
- They avoid double taxation. Members are treated as partners and are not required to pay corporate taxes; instead they pay taxes at a personal level
- Lesser paperwork and recordkeeping
- Members are not required to meet with other members/shareholders
- Members are protected from debts and liable acts of the corporation
- Limited liability corporations can choose the form of profit distribution, giving them more flexibility.
Every state in the US allows limited liability corporation establishment. Though the process of limited liability corporation establishment is less complicated than a corporation, it is always advisable to create your own bylaws thru the form of operating agreements. It helps outline how your company will divide its profit among members, the member's asset ownership and its responsibilities, and how members can change, transfer or withdraw their membership.
And as always the case, you have to file your registration with the Secretary of State. The articles of incorporation may be prepared by a business attorney to save you from the hassle.
Because each state has different rules and regulations on limited liability corporation establishment, a business lawyer in your area may explain to you the rules applicable. Your lawyer will also tell you if forming a limited liability corporation will best suit each member's situation. Our business lawyers from Mesriani & Associates can guide you in deciding for your limited liability corporation establishment.
Call us today and our business lawyers will attend to your decision-making needs right away.