A limited liability company (LLC) is a company that offers corporate liability protection, but usually operates and is usually taxed as either a sole proprietorship or a partnership.
LLCs are either member-managed or manager(s) managed.
To maximize corporate protection, it is important to seek legal advice as to:
Officers are employees of the corporation appointed by the board of directors to operate the day-to-day operations of the corporation, and they are the President or Chief Executive Officer, Secretary and Treasureror Chief Financial Officer at a minimum.
Certain licensed businesses in California can be filed as:
The decision as to what type of business structure would be best for your company includes such factors as how much liability protection from the businesses debts you want, your personal tax situation, and how formal or informal a business you want to form and operate.
An attorney can explain
A qualified attorney can also advise you on:
A CPA should be consulted with regarding the tax structures for the different types of entities.
As an attorney who has advised businesses over 20 years on corporate formation, and cleaned up many corporations formed without attorneys, the legal advice from a qualified attorney to understand what it truly means to be incorporated in California is invaluable.