Limited Liablity Company (LLC) Overview:
The ease of a partnership and the protection of a corporation. Get an LLC and protect your personal assets. Start a new business and protect your personal assets by forming a Limited Liability Company (LLC). Unlike corporations, LLCs are easy to operate. You don't have to hold annual shareholder meetings since there are no shareholders in a LLC. You also don't have to record and keep minutes of meetings. LLCs have the same tax advantages of a corporation. LLCs can be taxed either as a corporation or have the pass-through tax effect of a partnership.
An LLC is owned by its member(s). Members are like shareholders in a corporation. Members can manage the day-to-day activities of the LLCs or elect a manager to run the LLCs. Members can appoint another member or a non-member to manage the LLCs. As of 1/1/2000 California recognized single-member LLCs. However to receive the tax advantages of a partnership, you must designate at least two members for the LLC.
Limited Liability Company (LLC) - How it works:
1) Get your LLC started by answering some simple questions.
Get your LLC started by answering some simple questions. We’ll check the availability of your proposed LLC name.
2) We'll then prepare and file your Articles of Organization
We'll then prepare and file your Articles of Organization and file it with the Secretary of State
3) We'll then prepare your custom Operating Agreement:
Upon completion of your filing, the original Articles of Organization will be mailed to you in a Jiffy.
Limited Liability Company (LLC) Prices:
Basic Package : $139 + $70 State fees + $15 Name Search fee
Includes : Name search, preparation and filing of Articles, custom operating agreement
Standard Package : $239 + $70 State fees + $15 Name Search fee
Includes : Name search, preparation and filing of Articles, custom operating agreement,
custom LLC kit, sample business forms
Corporate Package : $339 + $70 State fees + $15 Name Search fee
Includes : Name search, preparation and filing of Articles, custom operating agreement,
custom LLC kit, sample business forms, Tax ID form preparation
In an LLC, members own the business. Members have no personal liability, unless they guarantee a debt. Professional services cannot operate under an LLC. You can have a "one-member" LLC. Members and/or managers can run the business and make management decisions. LLC require very little paperwork to manage and meetings are normally not required. An operating agreement is recommended. If an LLC does not operate under an operating agreement, general LLC law of the State will apply. By having an operating agreement, one opts out of the general LLC statute of the state. An LLC can later be converted to a Limited Partnership or a corporation. LLCs offer an excellent way for small private business to operate with little formalities, but have limited liability and pass-through taxation. 
