LLC Formation Lawyer Connecticut
If you are thinking about forming a limited liability company (LLC), you may want to consult an LLC formation lawyer Connecticut businesses trust. A lawyer from Eric Lindh Foster Law, LLC can help you create a valid LLC operating agreement and look out for your best interests. Here are some of the benefits of forming an LLC.
You Will Have Tax Advantages
What business doesn’t want to receive tax advantages? By forming an LLC, you can do that. LLCs are classified as partnerships or sole proprietorships, so you can use the pass-through taxation, which allows you to skip paying corporate or LLC taxes. The business’s income and expenses will pass through the owner’s personal tax returns.
You Have Ownership Flexibility
With an LLC, you will also enjoy the advantages of ownership and profit flexibility. For instance, if one partner invests more money into the company, he or she may get a larger share of the profits than the other partners. If you had formed a general partnership, you would have had to split company profits easily with all partners.
If you have an LLC, you’re also not limited to a certain number of owners.
You Have Less Liability
Just like the name suggests, an LLC allows you to have less liability. It essentially separates your personal assets, including your home and vehicle, from your business. Therefore, if your business is sued, no one can come after your personal assets.
It’s Simple and Inexpensive to Form
Establishing an LLC is less costly and complicated than forming a corporation. As a Connecticut LLC formation lawyer can confirm, you do not have to worry about filling out as much paperwork or holding yearly shareholder meetings.
You Will Have More Credibility
No matter what kind of company you form, you definitely want to appear credible to your customer base. The more credible your business seems, the more likely customers will try your products or service. Forming an LLC is typically viewed as more credible than sole proprietorships and partnerships. As such, if you establish an LLC, consumers may realize that you’re serious about your business.
Hiring a Lawyer
Although an LLC is relatively easy to form, it may still be in your best interest to work with an LLC formation lawyer. He or she can assess if an LLC is the best choice for your business and help you go from there. Your lawyer can help you fill out the paperwork correctly and improve your chances of success.
Schedule a consultation with a Connecticut LLC formation lawyer from Eric Lindh Foster Law, LLC today to discuss your case.