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Keep Your LLC in Complete Compliance!Mindful of the complications and numerous requirements that surround LLCs, Entrepreneur and Michael Spadaccini walk you through the details of what you need to know about your state's LLC act as well as the procedures for dealing with the extensive rules and regulations.
Turn to this go-to guide for complete definitions and explanations of all concepts surrounding LLCs and even a breakdown of the roles and responsibilities of owners and managers. You'll learn about LLC legal formalities, internal governance, record-keeping, vital LLC mechanics and more--all critical information that will allow you to spend less time researching procedures and more time running a successful business!
Learn everything you need to:
- Maintain ironclad liability protection
- Maintain important business records
- Conduct and record meetings
- Take LLC actions by resolutions
- Accept investment and issue LLC stock
- Avoid IRS trouble
Plus, use sample documents, checklists, resources, and forms to get a better grasp of the LLC process.
Save thousands of dollars in attorney's fees and ensure the success of your LLC!
List of contents
IntroductionChapter 1An Overview of Business Organizations
The Sole Proprietorship
The Partnership
Varieties of Partnerships
The Limited Liability Company (LLC)
Corporations
Business Form Comparison
Chapter 2Information for All Businesses
Local Taxes, Local Licenses
Partnership/LLC Taxation
Corporate Taxation
Business Entity Terminology
Forbidden Business Purposes
Chapter 3
The Features of LLCs
How LLCs Are Governed
Professional Limited Liability Companies
Chapter 4The Ten Steps to Organizing an LLC
Defining the Essential Roles
Chapter 5Operating Your LLC
Protecting Yourself from Liability
LLC Formalities
Meetings of Members
Meetings of Managers
Holding Member and Manager Votes by Written Consent
Annual Reporting Requirements
Qualifying as a Foreign LLC
Reporting and Paying Taxes
Amending Articles of Organization and Operating Agreement
Ending the Life of Your LLC: Dissolution
Chapter 6Suing and Being Sued as an LLC
The LLC Sues
The LLC Is Sued
Owner Suits
Final Thoughts on Lawsuits
Chapter 7LLCs and Personal Liability
Disregarding the LLC Entity
Instrumentality/Alter Ego
Contract and Tort Claims
Taxicab Cases
Personal Injury Cases and Claims
Contract Creditors and Contract Claims
Government Claims
Parent as Alter Ego of Subsidiary
The Seven Most Important Liability Protection Rules
Liability Protection: Corporation Versus LLC
Final Thoughts on Liability Protection
Appendix A: Limited Liability Company Forms
Appendix B: State Reference Tables
Glossary
About the Author
Index
About the author
McGraw-Hill authors represent the leading experts in their fields and are dedicated to improving the lives, careers, and interests of readers worldwide
Summary
Mindful of the complications and numerous requirements that surround LLCs, this book provides you the details of what you need to know about your state's LLC act as well as the procedures for dealing with the extensive rules and regulations. It is suitable for complete definitions and explanations of concepts surrounding LLCs.
