Limited Liability Company Attorney
We understand the laws governing limited liability corporations
Corporations can be structured in many different ways. One of the most popular types of companies is a limited liability corporation (LLC). However, it’s important to carefully consider the advantages and disadvantages of forming an LLC before doing so. That’s why it’s critical to consult with an attorney familiar with his area of the law.
Our legal team at Eller Tonnsen Bach, LLC can advise you on whether an LLC is right for your business. We also regularly work with existing LLCs involved in business litigation matters in South Carolina and North Carolina. As a result, we’re familiar with the state and federal laws that apply to LLCs. We also thoroughly understand how the legal system works. That’s why we’re the law firm businesses and fellow attorneys routinely trust to handle their business litigation needs.
What is a limited liability company?
A limited liability company (LLC) is a type of business structure for privately owned corporations. In an LLC, the business is owned by a limited number of owners, known as members. Another important distinction is the LLC is a separate entity from the owners. As a result, an LLC combines the characteristics of a corporation and a sole proprietorship. This hybrid business structure has many advantages, including:
- Rules for LLCs are often less severe than regulations governing corporations.
- LLC owners/members not required to personally pay outstanding debts for an LLC.
- LLC owners/members can file taxes as either a corporation or a business partnership.
The possible disadvantages of forming an LLC include:
- LLC taxed at personal, self-employment rate instead of the lower corporate tax rate.
- Possible confusion as to who is in charge of the LLC since an LLC does not have a board of directors or other, well-defined management positions.
It’s important to carefully consider whether an LLC is the right fit for your business venture. That’s why it’s critical to consult with a business attorney familiar with corporate law and whether an LLC is the right business structure for your company.
What legal issues often involve LLCs?
Legal disputes often arise when forming or operating an LLC. Such issues may include:
- Disagreements over the management or day-to-day operations of an LLC.
- The LLC may cease to exist if an owner/member decides to leave the company.
- Legal action, including a lawsuit, filed against the LLC by consumers or other businesses.
Knowing what to do in such situations can be overwhelming. Even knowing what your rights are as an LLC might not be clear. That’s why it’s important to talk with a lawyer who understands the rules and regulations governing LLCs in South Carolina and North Carolina.
How much does it cost to create an LLC?
The cost of creating an LLC often depends on many different factors, including the complexity of the business, how many members/owners are involved and the applicable fees, including license fees, permits and the fee for filing Articles of Organization and registering the LLC.
Each state charges its own, unique filing fees. In South Carolina, the state charges a $110 fee to file the LLC’s Articles of Organization. The cost of reserving the LLC’s name is a separate $25 fee charged by the state’s Secretary of State’s office.
In North Carolina, the state’s Secretary of State’s office charges a $125 state filing fee. Reserving the LLC’s name in North Carolina is an additional $30 fee. Other fees may also apply. An experienced LLC attorney can explain how the process works and how much you can reasonably expect to spend to create an LLC in your state.
Put our knowledge and expertise to work for you. Contact us
Your LLC is only as strong as the contracts and other legal documents created to form your company. Our detail-oriented business litigation attorneys can help you create a strong operating agreement. We can also review any existing LLC legal documents and advise you on whether they need to be amended to protect your company from potential business litigation.
Our attorneys also understand the importance of keeping legal fees reasonable and completing legal tasks in a timely manner. That’s why we won’t bill you for any unnecessary hours. We’re conscious of the importance of creating cost-effective solutions. We respect your time and your money.
Discover what we can do for your business. Contact our law firm and schedule an appointment with an attorney at one of our three office locations in South Carolina and North Carolina. We’re committed to helping your business succeed on your terms.