No, an attorney is not a legal requirement. You can prepare and file the articles of organization yourself; however, you need to be
knowledgeable in the laws of the State of Florida,
You can use our service to form your LLC and save money on attorney's fees. However, if you are unsure of what entity would be most beneficial to
your business, consult an attorney or accountant.
A limited liability company is a separate legal entity created by the state at the request of one or more individuals in order to conduct
business. An LLC combines the single level tax advantage of a partnership and the limited liability protection of a corporation.
LLC offers its members (owners) an important feature that the limited liability, in other words if your business suffers an unfortunate event creditors generally will not be able to come after your personal assets.
The owners of an LLC are called members, members are analogous to shareholders in a corporation. Members may manage
the LLC or they hire managers to do the job. After an LLC is formed members need to meet and draft the Operating Agreement.
The Operating Agreement is an agreement reached by the members of LLC in order to define management arrangement
and the members’ rights.
This is one of the main advantages of an LLC, an LLC is normally taxed like a partnership, meaning that LLCs’ income
will be passed through to the members and it will be reported and taxed on their individual tax returns. This eliminates the double
taxation faced by corporations.
Both from of business entities eliminate double taxation ie both offer the benefits of pass through taxation. However an
LLC is much more flexible and does not have the restriction that an S-corporation imposes.
LLC offers a number of advantages that makes it ideal for small and large business, some of the advantages are:
Pass through taxation ie the income of an LLC is taxed only once at the time the members file their individual
tax returns, very much like a partnership.
Limited liability for the members, the liability for members in an LLC does not go beyond the
amount the invested in the LLC.
Flexible ownership and management structure, there is no restriction on the type or number of members in an LLC and
members are free to choose the management structure they like.