|
Jacksonville Limited Liability
Company Law
Jacksonville Limited Liability
Company Law
A limited liability company (LLC)
is a hybrid organization that has
features of both a corporation and
a partnership. Its owners are called
members (comparable to corporate
shareholders) receive interests
in the LLC in exchange for property,
money, or services.
Like a corporation, it is a separate
legal entity for purposes of limited
liability of its members. It has
the tax benefits, however, of a
partnership. It also has the freedom
from many of the legal formalities
that govern corporations (e.g.,
annual reports, director meetings,
shareholder requirements, etc.).
To create an LLC, members file
articles of organization with the
state and pay filing fees. Members
should also have formal operating
agreements, similar in concept to
a partnership agreement, that explains
the operation and management of
the business. Ourednik Law Offices can consult
with you on these matters.
There has been a lot of fanfare
regarding this form of business
enterprise and the law is still
germinating. Each state has its
own set of statutes governing LLCs—which
must dovetail with IRS guidelines
which are in constant evolution.
For this reason, it is a necessity
to have the advice of an qualified
tax attorney to determine how the
LLC law best applies to your situation.
Karel
Ourednik IV, Esquire
Ourednik Law Offices, P.A.
5000 Sawgrass Village Circle Suite 6
Ponte Vedra Beach, FL 32082
PH: (904) 280-2611
FAX: (904) 280-2612
EMAIL: karel@ourednik.com
Jacksonville Limited Liability Company Law
|
