A Delaware LLC (aka Delaware limited liability company) is a type of business entity that is created by filing the proper Certificate of Formation with the Delaware Secretary of State. About two-thirds of all companies formed in Delaware are LLCs. Forming an LLC brings a flexible business entity with low initial costs and an affordable Franchise Tax.
If you have no plans to go public or issue stock with your company, an LLC is right for you. LLCs offer asset protection against liability and creditors, since a statutory limitation on personal liability means that LLC members cannot be held responsible for higher than his or her initial investment. The structure of an LLC is flexible in comparison to a corporation. LLC members are free to organize the company any way they want and can create their own terms to operate and oversee their company. LLC members can also choose whether to be taxed as an S Corp, C Corp, Sole Proprietorship, or Partnership by filing the proper IRS form.
All of these terms are explained in the LLC Operating Agreement, which can be changed over time if needed. When drafting the LLC Operating Agreement, you have the ability to tailor the terms and rules of your LLC to your specific business needs. Once signed and agreed by all parties, the LLC Operating Agreement becomes legal and enforceable by all parties.
Asset Protection Against Liability and Creditors
Customizable Operating Agreement
Low Start-up Costs
Choice of How Company is Taxed
Inexpensive and Easy Compliance
Getting service by one of the experts at A to Z Insurance is easy! We offer small business solutions at our local offices, online here and over the phone at 1-888-721-2511. Feel free to contact us via the contact section of our website and we will respond as fast as possible. Just want a quote? Click to apply below