Should You Form an LLC?

When you are starting a business, you must balance efficiency with your own personal protection in case something goes wrong with your venture. You could be held liable for debts and judgments if you do not have the right business structure. A limited liability corporation can potentially help you form an operating business while protecting you from liability.

The reason why people will form an LLC has to do with its name. If you have a sole proprietorship, you are the company. If you end up with business debts or you injure somebody, you could end up being made to pay yourself. When you form an LLC, your liability is limited to the assets of the business (subject to some exceptions).

An LLC is relatively easy to start. You would need an operating agreement, and you do not need a board of directors. The relatively simple structure and lesser reporting requirements mean that you could focus more on your business and less on corporate legal requirements. An LLC costs less than other types of businesses to form, and they will take less of your time. There will also be fewer regulatory requirements to follow.

Having a business that is formed and recognized by the state can give you additional credibility. People would take that as a sign that you are committed to your business.

When you are deciding what business form to choose, you should consult with an experienced attorney. Your lawyer will provide you with legal advice and work with you on the necessary documentation.

Contact a Boca Raton Business Formation Attorney Today

The attorneys at Rubino Findley work with small businesses to help them both form and continue to operate their businesses in the manner most legally effective. You can reach us online or call us today at 561.220.8464 to learn what we can do for you.